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Saving isn't always as much fun as spending, but it is vital in providing you with a financially secure future.  And, as it turns out, the feeling of financial security is generally a very enjoyable one.  Savings refers to money set aside for later use--think "savings account."  Our savings serve as temporary storage for funds we're setting aside for a big purchase and as a safety net for the uncertainties that lie ahead.   

As you become financially independent, you will need to maintain some savings.  The general rule of thumb is to have enough money in your savings account to cover three to six months of your living expenses.  Beyond that, if you are saving for a large purchase such as a bicycle or a car, a savings account is an ideal place to store your money: there is no risk of losing any of it, and you will be able to withdraw it promptly when you are ready.  You want your money to be "liquid".  You can open a savings account with very little cash at any bank or credit union.  

Once you are financially stable and have enough savings to pay for any unexpected expenses, you should think about investing part of your income. Investing is crucial for retirement and can, in the long term, improve your standard of living much more than spending the cash at present.

The younger you start saving and investing, the richer you'll be.   The longer your money has to grow, the more interest you'll earn, and the larger the compounding effect.  When you're in your twenties and thirties, your best friend is TIME.

How do I get started?

Whenever you receive money, no matter what the source, immediately put some of it aside into an account that is not easily accessible.  The first dollar you spend should always be on your future.  

Initially, this will take some self-control, and may be a little difficult to do, but over time, you'll find it gets easier, it will become a habit.