When people think about saving, they often think about big goals like retirement or buying a home. But good money habits also mean planning for smaller goals that are just a few months or years away.

By planning ahead for things like buying a new car, taking a trip, or reaching another money goal, you can avoid using high-interest credit cards, taking out costly loans, or dipping into your long-term savings.

4 steps to save for short-term goals

Follow these steps to help you reach your short-term goals faster-and build the habit of saving.

1. Start an emergency fund
   Doing this before starting to save for other things will give you a money cushion for when needed. Keep this money in a separate savings account so it's there for unexpected expenses. Add to it each month until you have three to six months' worth of living costs saved.
2. Open a no-fee savings account for each goal
   Think about what you want to save for, like a vacation or new furniture. Open a separate account for each goal.
3. Give each account a clear name
   Instead of just "Vacation," try something specific like "Smith Family Oregon Road Trip." You can rename your accounts anytime in Coastal Community online banking.
4. Set up automatic transfers
   In online banking, set a fixed amount to go into each goal's savings account every month. The amount you choose will depend on your budget and expenses. You can change the transfer amount anytime.

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