Money you know you need or want to spend in the next few years is savings. Money you keep handy for an emergency belongs in savings. Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.

Influence is like a savings account. The less you use it, the more you've got.

If you wait to see how much money you have left at the end of the month to put toward savings, the answer may be zero. So, set up an automated monthly transfer from your checking to savings account. Once you lock into that commitment, you'll be forced to scale back spending to make ends meet.

All my money is in a savings account. My dad has explained the stock market to me maybe 75 times. I still don't understand it.

If there's not enough money in the bank account, you don't spend it.

I'm 36, but I still feel like a punk kid with $200 in my savings account.