And while it’s important to set up automatic withdrawals that move some of your money from a checking account to a high-yield savings account regularly, you need to make sure you know what you are saving for, notes Filip Telibasa, CFP, owner and planner at Benzina Wealth. He recommends doing the following:

• Start with core values and beliefs.

• Define what is most important to you.

• Once you establish this as a foundation, you can move on to defining specific, tangible goals that bring these things to life.