Most of us have heard or read that we should be contributing at least ten percent of our money that we earning into a savings account. For a large majority of us, considering the current economic environment this is a very difficult thing to do. However, since we are evaluating and ranking our expenses by importance, our savings has priority over extras and we are advised to save a percentage of our income before the extras money is available for distribution. Do not use your savings money unless it is for items on your essentials list necessary for health and survival. Decide on a percentage which can be adjusted later. Just start by saving 1% if times are tough because this will get you into the habit of not spending each and every dime the moment you get your paycheck. Gradually you can increase this amount once you are not living paycheck to paycheck. Once your income increases you can start increasing this percentage and then you can begin using this money to invest and earn interest or dividends in low risk investments.