GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you might read more about oureditorial guidelinesand our products and servicesreview methodology.
Heres alook at the results.
How Much Should You Aim To Add To Your Savings This Year?
The appropriate amount to add to your savings in 2025 will depend on your own unique circumstances.
A good rule of thumb is to save 15% between investments for retirement and emergency fund savings.
Building a robust emergency fund should be your top priority if you do not yet have one in place.
To grow your savings quicker, consider utilizing a high-yield savings account.
Once your emergency fund is built, focus on funneling savings into retirement accounts.
Renner recommends putting funds into retirement accounts rather than savings accounts after you snag an emergency fund in place.
Retirement accounts are a great way to save and usually have some tax perks, she said.
The overall goal is to get your money to work for you through compound interest.
More From GOBankingRates
Share This Article:
