Don’t miss a beat

A savings and financial strategy helps you plan today for tomorrow’s big moments.

First, pay yourself

Your money meets lots of needs each month: your housing, your food, your transportation. Put your future at the front of the line by automatically setting aside part of each paycheck into a savings or retirement account.

The key:
Start early!

The sooner you begin, the more you can make the power of compound interest work for you.

Say you want to invest $100 each month. (We'll use U.S. dollars for this example, but the approach works for any currency.) And let's assume your investments earn 4% annually.

Starting at age 25, you'd contribute $48,000 to your investment over 40 years. But thanks to compound interest, you end up with much, much more: $114,031.

Here's how starting later — and investing $48,000 in monthly increments over time — can mean missing out.    

Your investment $48,000

Starting age Saved per month Saved for Amount saved
25 $100 40 years Yields $114,031
35 $150 30 years Yields $100,953
45 $200 20 years Yields $71,467

Choose the right tool

Consider your goals for your money when deciding where to invest it.

Manage your expenses

  1. Pay off your debt. Banks charge you far more on your debt than they pay on your deposits. Right now, you’re probably paying significantly more interest on your credit card balance than you’d earn on your savings account. Aim to pay it off each month. Use automatic payments to make sure you don’t miss any deadlines.
  2. Shop around. Is it time to sign up again for your home or renter's insurance? Phone service due for renewal? Spending a few moments online can help you save if you find a better rate.
  3. Schedule a spending checkup. Once a year — put a date in your calendar — check whether it makes sense to pay down or refinance your mortgage or other loans. (Maybe there's a free counseling service that can advise you.)
  4. Know your options. Look for freebies and discounts. Don't miss out on your AbbVie benefits.