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Use the questions -- and the resources listed beneath them -- to assess your savings plan.

1) Do you spend less than your income and save the difference? 

AARP Benefits of Spending Less Calculator

Ever want to know how much extra money you could save each month if you cut out that daily coffee or weekly dinner?  Use this handy calculator to determine your monthly savings if you spend less per month and invested the savings.  See how eliminating certain budget, utility, and entertainment expenses will help you save big in the long run!

2) Do you have a personal savings goal and a plan to achieve this goal? 

Take the America Saves Pledge

Set a goal and make a plan to save. Join over 310,000 people who have pledged to save and take the America Saves Pledge today. Already taken the pledge? America Saves encourages you to recommit to your savings goal and re-pledge today.

3) Do you have at least $500 of emergency savings to pay for unexpected expenses like car repairs and medical treatment? 

AICPA's Emergency Savings Calculator

Saving for a rainy day is always important, and with the Emergency Savings Calculator you can calculate how long it will take you to build up your emergency savings fund by taking emergency expenses, living expenses, and insurance deductibles into consideration.  Don’t be caught in a lurch, use the calculator and find out how much extra you should save per month to be prepared for life’s unexpected events.

4) Do you save automatically through regular transfers from a checking account to saving or investment account? 

AICPA's Savings Calculator 

Learn how consistent contributions to a savings account can add up over the years.  Watch your wealth grow with the magic of interest!

5) Do you save a portion of tax refunds, gifts, bonuses, or other financial windfalls? 

Choose to Save's tips on What to Do With Your Refund 

Before you consider frivolously spending your tax refund, consider using the extra funds to contribute to an IRA, make an extra credit card payment, buy a savings bond, or one of many other options that will benefit your financial future. 

6) Do you have revolving credit card debt? If so, are you reducing this debt? 

Federal Reserve Credit Card Calculator

Based on the information you provide, the calculator will give you an estimate of how long it will take you to pay off your credit card balance.

7) Have you ever had to turn to payday loans to cover expenses?

Consumer Federation of America Pay Day Loan Consumer Information

Payday loans are extremely expensive cash advances that must be repaid in full on the borrower's next payday to keep the personal check required to secure the loan from bouncing. Cash-strapped consumers run the risk of becoming trapped in repeat borrowing due to triple-digit interest rates, unaffordable repayment terms, and coercive collection tactics made possible by check-holding. Learn how these loans work and get tips on alternatives to high-cost payday loans and advice on coping with payday loan problems.

8) Are you saving enough for a retirement? 

Ballpark E$timate Worksheet

The Ballpark E$timate helps you quickly and easily determine how much money you need to save to afford a comfortable retirement by taking complicated issues like Social Security benefits and earnings assumptions, and converting them into language and numbers that are easier to understand.  Available in an Interactive online version, a printable worksheet, and an iPhone “app.”

9) Do you save for retirement at work through a 401(k) or other contributory plan? 

FINRA's 401(k) Investing Advice

Smart 401(k) Investing tips is full of advice on how to open a 401(k), different plan options, strategies on proper investing, as well as rules on how to manage, move, and withdraw funds from your account.  Confused about the terminology?  Visit the 401(k) glossary for help.  Take charge of your 401(k) and become an expert!

10) Are you building equity in your home or other property?

America Saves – Save for a Home Page

Learn why home ownership is the main path to personal wealth, how home ownership increase homeowner wealth, and estimate your current and future home wealth with the America Saves Home Wealth Estimator.

11) Do you expect to pay off all mortgage loans before retirement? 

AICPA's Mortgage Payoff Calculator 

With the AICPA Mortgage Payoff Calculator, you can discover how much money in interest payments you can save if you increase your monthly mortgage payment.  Simply input the number of years remaining on your mortgage, the total length, amount, interest rate, and possible additional monthly payment you can make to determine how much money you will save overall!

12) Do you know your net worth that is, the dollar amount representing all your assets minus your debts? 

America Saves Wealth Calculator 

Discover what your current and future net worth are with America Saves’ Personal Wealth Estimator!  By listing your financial and nonfinancial assets and debts, the Personal Wealth Estimator is able to calculate your current and future wealth for 5, 10, 20, 30, 40 or 50 years in the future.