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Savings Strategies to Reach Financial Goals

piggy bank with coin

Plan and save to find the best deals on expensive items. Save up for a major purchase and avoid high-interest options like credit and rent to own.

Create a plan for multiple savings goals such as retirement, emergency savings and paying for college, preferably using pretax savings options.

Beating inflation requires some research. Should you invest in CDs? How much do you lose in a basic savings account? Are there any inflation-safe investments? As with most investing, diversification is key.

The right way to save your money depends on your risk tolerance. Choose basic savings, CDs, money market accounts or invest in stocks and bonds.