5 Tips on How to Keep the Change for a Rainy Day:

1. Never refuse free money.

If your company or your bank offers you free money, take it and watch it grow. Check out the Keep the Change program at Bank of America.

2. Use time when it is on your side.

Young people should start investing earlier than they are. According to a new survey by Bank of America, one in five 18 – 34-year-olds have never thought about saving for a rainy day.

3. Set up automatic savings plans.

There are many programs that encourage improved savings behavior and require very little from you. For example, US Bonds, company savings plans and the Keep the Change program from Bank of America are all automatic savings plans.

4. We live in the “sandwich generation.”

Americas are faced with more challenges now as their parents live longer, forcing them to take on more financial responsibility for the older and younger generations. Seek savings plans that encourage a change in your savings behavior and ensure a solid future for you and your dependants.

5. Know where you spend your money.

Americans tend to lose track of where their money goes. An automatic savings plan helps to offset some of those behaviors and encourages better management of your finances.