A good rule of thumb is to save 20% of your income, but this depends on your goals and timeline. Use our calculator to determine the exact amount needed to reach your specific savings goal by your target date.

Set up automatic transfers from your checking to savings account right after payday. This "pay yourself first" approach ensures you save before spending on other things. Many banks offer free automatic transfer services.

Yes, but prioritize them. Start with an emergency fund, then focus on high-priority goals. You can save for multiple goals simultaneously by allocating different amounts to each, but avoid spreading yourself too thin.

For short-term goals (under 2 years), use high-yield savings accounts or CDs. For medium-term goals (2-5 years), consider conservative investments. For long-term goals (5+ years), you might consider more aggressive investments with higher potential returns.

Start with what you can afford, even if it's less than the calculated amount. You can adjust your timeline, reduce your goal amount, or find ways to increase income or reduce expenses. The important thing is to start saving consistently.

Review your savings goals quarterly or whenever you have major life changes (job change, income increase, new expenses). This helps you stay on track and adjust your plan as needed to meet your goals.