For many young professionals like you, there’s simply too much going on to think about your financial goals on a regular basis. That’s why we’ve pulled together this list of simple tips that can help you save money and prepare for a more stable future.

1. Record all of your transactions.

The first step toward reaching your financial goals is to keep track of how you spend your money. Diligent monitoring can help you see not only what consistent expenditures you need to account for, but also where most of your income goes. For example, 71% of people under 30 blame money woes on lifestyle purchases ¹ such as dining and entertainment. Which brings up the next point…

2. Reduce spending where you can.

Sure, most of us need our morning coffee, but at $5 a pop, you can save $100 a month just by brewing at home. These small reductions add up - check out our "4 easy ways to kick-start your retirement savings" to see exactly how.

3. Budget accordingly.

Duke University’s Personal Finance resource says the best budgets are ones that keep it SMART: Specific, Measurable, Achievable, Relevant, and Time-Framed.² Placing a hard limit on the amount spent per month on certain activities is a good way to allow yourself to have fun, while still staying on pace to reach your financial goals.

4. Plan for future purchases.

Your current finances are in order, but why stop there? Planning ahead for future purchases – automobile, home, etc. – is not only a smart budgeting move, but also helps remove the stress associated with larger purchases. In a pinch, the money set aside for these can also be used as an emergency fund if needed.³