https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:budgeting-and-saving/x647545bbd61df4a7:saving-money/v/why-and-how-to-save 2022-11-13T23:48:56.222355513Z Why and how to save There are a number of reasons why you should save money. Having savings can help you be prepared for unexpected expenses, work towards long-term goals, and reduce stress by providing a sense of financial security. To save, it's important to budget and identify areas where you can cut expenses. Automating your savings through direct deposit or apps can help make the process easier, and keeping your savings in a separate account can help you resist the temptation to spend it. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/aecb1f00-ff29-446f-b9a8-35d612beff3b_1280_720_base.png Why and how to save There are a number of reasons why you should save money. Having savings can help you be prepared for unexpected expenses, work towards long-term goals, and reduce stress by providing a sense of financial security. To save, it's important to budget and identify areas where you can cut expenses. Automating your savings through direct deposit or apps can help make the process easier, and keeping your savings in a separate account can help you resist the temptation to spend it. https://cdn.kastatic.org/ka-youtube-converted/cnW_HDIBmz4.mp4/cnW_HDIBmz4.mp4 145 Saving money https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:budgeting-and-saving/x647545bbd61df4a7:saving-money/a/why-and-how-should-i-save-money 2026-04-04T02:06:38.980527203Z Why and how should I save money? Learn the reasons and strategies for saving money. article https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:budgeting-and-saving/x647545bbd61df4a7:saving-money/a/smart-saving-strategies 2025-07-11T12:39:44.041748439Z Planned and unplanned expenses Saving money can be hard, but it's one of the most important things you can do to ensure your financial stability. One of the first things you need to do when trying to save money is to understand the difference between planned and unplanned expenses. article https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:budgeting-and-saving/x647545bbd61df4a7:saving-money/a/how-do-i-save-wisely 2025-08-11T19:09:49.411741542Z I am ready to save. What is the next step? An emergency fund is one of the first things you should save for because it helps you handle surprise costs without going into debt. Even a small amount can make a big difference when something unexpected happens. article https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:budgeting-and-saving/x647545bbd61df4a7:saving-money/e/emergency-fund 2025-09-11T23:01:03.793775027Z Emergency fund Practice building an emergency fund from living expenses. Elvira Valdez exercise https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:budgeting-and-saving/x647545bbd61df4a7:saving-money/v/emergency-funds 2025-02-10T16:06:46.170958301Z Saving wisely: emergency fund Emergency funds are savings specifically set aside to cover unexpected costs, like medical bills or car repairs. They are important because they can keep you from falling into debt or being unable to pay your bills if something unexpected comes up. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/a671101b-aa9e-4846-88af-d62b3b47c321_1280_720_base.png Saving wisely: emergency fund Emergency funds are savings specifically set aside to cover unexpected costs, like medical bills or car repairs. They are important because they can keep you from falling into debt or being unable to pay your bills if something unexpected comes up. https://cdn.kastatic.org/ka-youtube-converted/n4YoZDQs6VA.mp4/n4YoZDQs6VA.mp4 149 Saving money https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:budgeting-and-saving/x647545bbd61df4a7:saving-money/a/saving-wisely 2023-09-19T14:59:19.841289713Z Saving wisely Learn about saving money over time by splitting the cost throughout the year. article https://www.khanacademy.org/college-careers-more/financial-literacy/xa6995ea67a8e9fdd:budgeting-and-saving/xa6995ea67a8e9fdd:saving-money/e/saving-wisely-planned-expenses 2023-07-31T15:21:16.502696282Z Saving wisely: planned expenses Practice calculating the amount needed for savings when dealing with planned expenses. Elvira Valdez exercise https://www.khanacademy.org/college-careers-more/financial-literacy/xa6995ea67a8e9fdd:budgeting-and-saving/xa6995ea67a8e9fdd:saving-money/v/paying-yourself-first 2022-11-11T00:02:31.87501783Z Paying yourself first Paying yourself first means that before you spend any of your money on bills, food, or other expenses, you put some of it into savings. This way, you're making sure that you're saving money each time you get paid, rather than hoping there's something left over at the end of the month. This can be a good way to build up your savings over time and get into the habit of spending less than you earn. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/776acf20-b86b-4bb1-8b6f-058b9e0a2cec_1280_720_base.png Paying yourself first Paying yourself first means that before you spend any of your money on bills, food, or other expenses, you put some of it into savings. This way, you're making sure that you're saving money each time you get paid, rather than hoping there's something left over at the end of the month. This can be a good way to build up your savings over time and get into the habit of spending less than you earn. https://cdn.kastatic.org/ka-youtube-converted/k-RTEIaYvAg.mp4/k-RTEIaYvAg.mp4 238 Saving money https://www.khanacademy.org/college-careers-more/financial-literacy/xa6995ea67a8e9fdd:budgeting-and-saving/xa6995ea67a8e9fdd:saving-money/a/pay-yourself-first 2025-04-03T14:12:08.996078611Z Pay yourself first Learn how to structure your paychecks around paying yourself first. article https://www.khanacademy.org/college-careers-more/financial-literacy/xa6995ea67a8e9fdd:budgeting-and-saving/xa6995ea67a8e9fdd:saving-money/e/paying-yourself-first 2025-03-04T18:16:22.552778242Z Paying yourself first Practice learning the principles behind paying yourself first. Elvira Valdez exercise