There is a Jamaican proverb that goes “Save money and money will save you.” Regardless if you are a believer in the Law of Attraction or a pragmatic investor, most people would agree that saving money is a good thing.

However, I’ve found that unless you have a compelling reason to save money, it becomes really easy to put off saving or, worse yet, use your those savings on frivolous things.

So what are you saving for? Create a savings plan that will not only get you there but will also create a cushion that reduces the temptation or need to take savings earmarked for one thing and use it for something else. Here are three purposes you can put your savings to. Doing all three will help you sock away some money every month toward achieving better financial wellness and living a life you choose.

1. Emergency fund.

This is money you keep in a special savings account that you use for surprise expenses such as fixing your car, repairing broken appliances and other things that often are urgent and expensive. Keeping $2,000 in this account at all times will help relieve a lot of stress when your radiator bursts!

2. Retirement

Put aside money for the future. I like to put some aside every month into a savings account and then, once it reaches a certain amount, transfer that into a retirement fund. That way the money is always working for me and earning interest.

3. Fun

To live a balanced life, you need to include you in your savings plan. This savings account can be used for vacations, special fun things you’ve got your eye on, or even going out to a fancy restaurant once in a while.

Brigham Young said, “If you wish to get rich, save what you get.” And Warren Buffet advises “Do not save what is left after spending, but spend what is left after saving.” So make saving a priority, even if it is just a small amount every month. It will add up over time.

One final tip: Put your savings in an actual savings account, but make sure that savings account does not come with fees. Many banks will charge you if your savings account drops below a certain balance. I use Capital One 360 because there is no minimum balance, you start earning interest with a very small amount, and because it is online, I’m less tempted to spend it on other things.

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Originally created for the TidBitts.com platform, launched in September of 2014, my content on Fridays helps you “Own Your Awesome” in the eight facets of your life.