Saving money can be a difficult task - especially if you don’t know where to start. Whether you’re saving a few dollars here and there or preparing for retirement, every penny counts toward your long-term goals. To help you reach those goals, we’ve put together a few tips to save money long-term.

Establish Your Budget

In order to start saving money, you need to know where your finances currently stand. A budget can help you determine how much money you earn, and how much of it you spend each month. Once you have a better understanding of where your money goes, you’ll be able to see which areas you could be more frugal in.

Build an Emergency Fund

You may be well off financially, but what if something unexpected happens? Would you be prepared? It’s crucial that you set aside money for emergencies. Though you might not think you need it now, it’s always a good idea to have a financial cushion in case of any unforeseen situations.

Set up Automatic Savings Payments

Setting up automatic savings payments is one of the easiest ways to save money long-term. Many employers provide saving opportunities, where they’ll deduct a select amount from your paycheck and transfer the money into a retirement or savings fund. It’s a great option for those who struggle to set aside portions of their paycheck for savings on their own.

Save Your Loose Change

It sounds strange, but there is some validity to digging through your couch cushions for change. A few cents you put away here or there throughout the year could end up fulfilling a huge portion of your savings goal without you even realizing it. Trust us pennies really do add up.

Use the 24-Hour Rule

Another crucial aspect of saving money is adjusting your spending habits. In the age of online shopping, it’s easier than ever to buy things we don’t need. That’s why it’s important you limit impulse purchases and focus solely on what’s necessary.

If you find yourself to be an impulse buyer, consider utilizing the 24-hour rule; think over every nonessential purchase for at least 24 hours before actually buying anything. As time passes your desire will begin to wear off and you’ll be able to analyze the situation with a clear head. Chances are, you probably don’t need whatever novelty item you were about to buy.