--- title: "Make Smart Financial Moves: 4 Habits That Will Save You Money" description: These four money habits will help you build savings, reduce debt, and achieve all your financial goals. image: https://go.hfcu.org/hubfs/young%20woman%20paying%20bills%20on%20couch.png --- [![MoneyWisdom_HFCU_r2](https://go.hfcu.org/hs-fs/hubfs/MoneyWisdom_HFCU_r2.png?width=464&name=MoneyWisdom_HFCU_r2.png "MoneyWisdom_HFCU_r2")](https://go.hfcu.org/blog) Filter by Category** - [Show All](https://go.hfcu.org/blog) - [Security](https://go.hfcu.org/blog/topic/security) - [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance) - [Auto](https://go.hfcu.org/blog/topic/auto) - [Business](https://go.hfcu.org/blog/topic/business) - [Credit Score](https://go.hfcu.org/blog/topic/credit-score) - [Home](https://go.hfcu.org/blog/topic/home) - [Credit Cards](https://go.hfcu.org/blog/topic/credit-cards) - [Life Changes](https://go.hfcu.org/blog/topic/life-changes) - [Insurance](https://go.hfcu.org/blog/topic/insurance) - 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[Pets (1)](https://go.hfcu.org/blog/topic/pets) - [dormant account (1)](https://go.hfcu.org/blog/topic/dormant-account) - [inactive account (1)](https://go.hfcu.org/blog/topic/inactive-account) # Make Smart Financial Moves: 4 Habits That Will Save You Money ** [Hanscom Federal Credit Union](https://go.hfcu.org/blog/author/hanscom-federal-credit-union) ** Dec 31, 2022 ![dark haired woman sitting on couch with paperwork in front of her on coffee table](https://go.hfcu.org/hubfs/young%20woman%20paying%20bills%20on%20couch.png) Money management can be intimidating and overwhelming, but it doesn’t have to be. By developing the right money habits and strategies, you can keep more of your hard-earned money in your pocket. Here are four smart money habits you can adopt this year that will help you boost your finances. 1. **Set Financial Goals**. The first step to making smart financial decisions is setting specific financial goals. Whether it’s saving for a [home down payment](https://go.hfcu.org/blog/4-things-youll-need-to-buy-a-house-this-year) or [retirement](https://go.hfcu.org/blog/an-age-by-age-guide-to-saving-for-retirement), having clear objectives will serve as a roadmap for reaching your desired destination. Start by writing down your goals and then breaking them down into smaller steps that are easy to track and measure. For instance, if one of your goals is to save $50,000 for a house in five years, break that goal down into smaller goals such as saving $416 a month or $9,600 per year. Setting goals you know you can achieve will make it easier to stay motivated! 2. **Cut Spending Where Possible**. One of the best ways to keep more of your money is by [cutting unnecessary expenses](https://go.hfcu.org/blog/5-easy-ways-to-cut-monthly-expenses-s18) out of your budget. With an increasing number of subscription services popping up every day, it’s easy to get caught up in spending too much on items you don’t need or use regularly. Take the time to go through all of the bills and subscriptions you pay each month and cancel any services you don’t need or use very often. That extra cash can be used towards savings or debt reduction instead. 3. **Automate Savings & Bill Payments**. Another great way to stick with good financial habits is by [automating savings deposits](https://go.hfcu.org/blog/cu-thrive-the-automated-savings-program-that-pays-2.00-apy) and bill payments. Automation takes emotions out of the equation by removing the temptation of managing funds manually, lessening the chance you'll decide to skip putting money into your savings account. [Automated transfers](https://go.hfcu.org/blog/3-easy-ways-to-transfer-your-money) also reduce the chances of human error when entering numbers into an account, which can lead to costly fees from missed payments or overpayments. Overall, automation helps make sure that bills are paid on time while still allowing some room in the budget for savings contributions as well. 4. **Create an Emergency Fund.** Emergencies happen - whether it’s unexpected car repairs or medical bills - so it's important that you have a [rainy day fund](https://go.hfcu.org/blog/why-emergency-funds-are-no-longer-optional) ready when emergencies pop up. Experts recommend having at least three months' worth of living expenses saved up in case of emergency; however, six to nine months is even better. It may take some time to build up this fund but even small contributions will move you forward toward achieving this goal, so start today. Once your fund is established, refrain from using this money unless absolutely necessary since it won't be available when you really *really *need it! Learning how to make smart financial moves won't happen overnight, but with dedication and consistency, you can create positive financial habits over time. Setting realistic financial goals, cutting unnecessary expenses out of your [budget](https://go.hfcu.org/blog/how-many-americans-use-a-budget), automating savings deposits/bill payments, and creating an emergency fund are all great steps toward achieving greater financial success. By applying these strategies regularly along with other money management techniques like budgeting, you can set yourself up for long-term financial stability. [![Download your Build-A-Budget eBook](https://no-cache.hubspot.com/cta/default/118438/deaf408c-d0da-4758-8a46-dd8d68ad3c9a.png)](https://cta-redirect.hubspot.com/cta/redirect/118438/deaf408c-d0da-4758-8a46-dd8d68ad3c9a)   *Others are reading:* - [3 Ways to Build Wealth With Direct Deposit](https://go.hfcu.org/blog/3-ways-to-build-wealth-with-direct-deposit) - [A 9-Step Plan for Dealing With Unexpected Job Loss](https://go.hfcu.org/blog/a-9-step-plan-for-dealing-with-unexpected-job-loss) - [7 Winter Energy Savings Tips](https://go.hfcu.org/blog/7-ways-to-cut-heating-costs-this-winter) - [The Best Way to Avoid ATM Fees](https://go.hfcu.org/blog/the-best-way-to-avoid-atm-fees) - [Is It Better to Buy or Lease a Car?](https://go.hfcu.org/blog/should-you-buy-or-lease-your-new-car) ** [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance), [Savings](https://go.hfcu.org/blog/topic/savings), [Budget](https://go.hfcu.org/blog/topic/budget) [** 9 Smart Moves for Lottery Winners ](https://go.hfcu.org/blog/lottery) [** How To Refinance Your Car Loan ](https://go.hfcu.org/blog/should-you-refinance-your-car-loan) ### About Author ![Hanscom Federal Credit Union](https://go.hfcu.org/hubfs/HFCU-Profile-1000x1000.jpg) Hanscom Federal Credit Union Hanscom Federal Credit Union, a purpose-driven $1.9 billion organization based in Littleton, MA, empowers its members to achieve financial wellness. Hanscom FCU serves over 95,000 members across the country and overseas through 16 branches, over 100,000 surcharge-free ATMs, 5,000 contact centers, and a web-based branch. Related Posts [![Navigating Financial Challenges After a Job Loss](https://go.hfcu.org/hubfs/iStock-1444494544.jpg) Navigating Financial Challenges After a Job Loss ](https://go.hfcu.org/blog/job-loss) [![Three Tips to Build a Financial Safety Net](https://go.hfcu.org/hubfs/2-2.png) Three Tips to Build a Financial Safety Net ](https://go.hfcu.org/blog/safety-net) [![Traveling this summer? 9 credit card tips to know](https://go.hfcu.org/hubfs/two%20women%20at%20cafe%20on%20vacation.png) Traveling this summer? 9 credit card tips to know ](https://go.hfcu.org/blog/traveling-this-summer-9-credit-card-tips-to-know) ** - [**](http://www.facebook.com/share.php?u=https://go.hfcu.org/blog/smart-money-moves-4-habits/) - [**](https://X.com/share?url=https://go.hfcu.org/blog/smart-money-moves-4-habits/) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://go.hfcu.org/blog/smart-money-moves-4-habits/&summary=&source=CeBIT) ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. 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Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://X.com/HanscomFCU The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://www.instagram.com/hanscomfcu/ The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### https://www.linkedin.com/company/hanscomfcu/ The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** ### http://www.youtube.com/c/HanscomFederalCreditUnion The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. ### Popular Posts [What You Need to Know About Putting Your Home in a Trust](https://go.hfcu.org/blog/what-you-need-to-know-about-putting-your-home-in-a-trust) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Untitled%20design%20-%202022-02-10T072804.753.jpg) [What You Need to Know About Your Federal Tax Bracket](https://go.hfcu.org/blog/what-you-need-to-know-about-your-tax-bracket) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Untitled%20design%20-%202021-03-22T123305.900.jpg) [6 Boat Types to Get on the Water](https://go.hfcu.org/blog/6-boat-types-to-get-on-the-water) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/images/Jet_Ski.jpg) [23 Organizations Dedicated to the Needs of Seniors](https://go.hfcu.org/blog/23-organizations-dedicated-to-the-needs-of-seniors) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/Senior%20citizens.jpg) [9 Smart Moves for Lottery Winners](https://go.hfcu.org/blog/lottery) ![older man looking at top retirement worry on digital device](https://go.hfcu.org/hubfs/images/lottery_winner.jpg) ### Recent Posts - [![National Credit Union Administration](https://go.hfcu.org/hs-fs/hubfs/NCUA-logo-small.png?width=95&name=NCUA-logo-small.png) ](https://www.ncua.gov/) [![Equal Housing Lender](https://go.hfcu.org/hs-fs/hubfs/EHL-logo-small.png?width=65&name=EHL-logo-small.png)](https://www.hud.gov/fairhousing) - @ 2023 [Hanscom Federal Credit Union](https://www.hfcu.org/) - Federally insured by the National Credit Union Administration. - [Privacy Policy](https://www.hfcu.org/content/docs/Privacy_Notice.pdf) **Disclosure:** Hanscom Federal Credit Union does not provide and is not responsible for any products, services, or overall website content available at any third-party sites linked within this blog. 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Please consult the privacy disclosures on those linked sites for further information. ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Hanscom Federal Credit Union" }, "dateModified" : "December 31, 2022, 5:23:23 PM", "datePublished" : "2022-12-31 17:23:23", "description" : "These four money habits will help you build savings, reduce debt, and achieve all your financial goals.", "headline" : "Make Smart Financial Moves: 4 Habits That Will Save You Money", "image" : { "@type" : "ImageObject", "url" : "https://118438.fs1.hubspotusercontent-na1.net/hubfs/118438/young%20woman%20paying%20bills%20on%20couch.png" }, "mainEntityOfPage" : { "@id" : "https://go.hfcu.org/blog/smart-money-moves-4-habits", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://cdn2.hubspot.net/hubfs/118438/Logo%202.jpg" }, "name" : "Hanscom Federal Credit Union" } } ```