When it comes to saving money, it's often not a lack of ability that prevents us from getting started, but feeling unsure about where to start — a recent survey found that approximately 36 percent of workers have less than $1,000 in savings and investments. Yikes. But you don't have to be one of the 36 percent: use this infographic, created in partnership with State Farm, to confidently build your savings plan.
In it, you'll find stats that may surprise you, such as you should be socking away 10% to 15% of your income if you're in your twenties and you'll need a healthy mix of stocks, bonds, bank accounts and even real estate to reach your retirement savings goals.
Although it can feel overwhelming at first, the concept of saving money is actually simple. Check out the infographic below and begin planning your bright financial future.
Saving money doesn't have to be a daunting task. Now that you're equipped with the knowledge you need, stick to the basic rules outlined above and your bank account balance will begin growing in no time. Remember, the best thing you can do for your savings is to start. Now that you have the wisdom you'll need to start saving like an expert, let State Farm help you to protect your stuff.
Casey Bond is a seasoned personal finance writer and currently serves as the Content Director and voice of GOBankingRates.com.