In a time where many are feeling the impact of inflation and the rising cost of living, some are also finding it difficult to make progress—or even establish—their savings goals. In fact, a Bankrate survey‡ found that 47% of adults in the U.S. have less or no savings in 2026 compared to this time in 2025.

Savings goals are often directly tied to the stage of life you are in, and evolve over time as goals are met, income changes and life circumstances change. For example, in your 20s and 30s, a savings account may be used to ensure you can handle an emergency expense, or to reach a goal such as paying for a wedding or the down payment on your first home.

As you age, savings can help you plan for the future, not only for a rainy day. A combination of short- and long-term goals is the foundation of financial independence throughout your life.

How to make saving money fun

Having fun saving money is an option that can jumpstart your goals in a sustainable way. Financial gamification is when you create a system of challenges or competitions for yourself to motivate and meet financial goals. These money games can be a good place to start if you enjoy competition or finding unique ways to approach “boring” subjects. It can turn the everyday tasks of personal finances into an enjoyable experience that also gives you emotional rewards.

To start with your “savings challenge,” be serious about the game. First, conduct a financial review so you have an accurate idea of your income and expenses. Next, create a challenging, but realistic, savings goal that aligns with your income and expenses. The point is to set achievable milestones for yourself to kickstart saving.

Then, give yourself a set time to hit certain goals, like saving $1,000 in the next six months. You could also challenge yourself to something smaller, like moving $10 a week from your checking to your savings account. However you decide to challenge yourself, focusing on smaller goals first can be motivating as you embark on the journey to reaching and establishing larger financial plans.

Creative savings challenges to try

No-spend weeks

Challenge yourself not to spend any money for a week. Track each time you would have normally spent money and calculate how much it would have cost at the end of the week. Then, transfer that amount of money into your savings account.

This challenge can also bring into sharp focus your spending habits and can help you make better financial decisions moving forward. Take this opportunity to review all your spending temptations and consider ways to approach them at a lower cost.

The friendly competition

Encourage your friends to participate in their own savings challenge and see who can save the most. This game can be as structured with rules or be as flexible as you want. Gather your friends, set a time frame and whoever has the most saved at the end of the month wins (at least bragging rights!).

Round-up challenge

When you do need to spend money, make each purchase work for you with a round-up challenge. For a month, try to track every purchase amount you make. At the end of the month, calculate how much extra it would cost to round up those expenses to the nearest dollar.

Once calculated, and when you understand those contributions are a small amount in the moment, you’ll see it add up to significant funds in service to your future financial stability. Some financial tracking apps can help with this, and some banks have programs that round up automatically to build your savings account. Research first to ensure any app you are using is safe, secure and to be aware of any fees you may have to pay for services from financial institutions.

Let your money work for you

Once you master these options or start to hit your savings goals faster, kick it up a notch by working with your financial partner to discuss alternate savings solutions such as money market or time deposit accounts. These are specific savings accounts that can boost your goals even more without you needing to take frequent action.

  • Money market accounts: These accounts typically come with higher interest-earning potential, although they may restrict your access to the funds with monthly withdrawal limits. These are great options if you are nervous about “locking up” your money, but still want your funds growing over time.
  • Time deposit (TD) / certificate of deposit (CD) accounts: These are best for those who have cash they don’t need to access or use for several months or years. TDs/CDs lock your money up in a higher interest rate account for a set term, helping you accrue interest over time. If you use these accounts for their high-earning potential, remember you likely cannot withdraw your money without taking a financial penalty. So, choose this account type if you have cash in an account that you would like to be earning money instead of lying dormant.

Other ways to help make saving easier

While savings may not always be “fun” it can at least be easy. Several other saving options can help you grow your emergency or goal funds over time.

Set up an automatic transfer

This one is easy because it only requires a small amount of upfront work with your bank and then you can reap the benefits of time and consistency. If you have something specific you are saving money for, like a car or a down payment on a house, create a savings account with your financial partner specific to that goal. Then, set up an automatic transfer to that account out of each of your direct deposits (such as biweekly paychecks).

This automatic savings transfer can be as little as $5 a week. You’ll be surprised at how much easier it is to stash money away when it’s happening automatically and not affecting what you see as your available funds.

Account perks

Check with your financial institution on the benefits and perks you can take advantage of related to your current accounts. Many banks offer promotions and benefits to customers who open a new checking or savings account. If you meet certain criteria, you might qualify for cash bonuses or other perks by maintaining a minimum balance or setting up direct deposits. Some banks also offer promotions if you bundle several types of accounts into your relationship, like checking, savings and credit.

Interest-bearing accounts

Savings accounts can offer specific interest-bearing advantages over a checking account, although they should be used primarily for long-term deposits rather than frequent withdrawals. Banks may limit the number of transactions, like withdrawals, that can be connected to certain savings accounts. Consider using a savings account to maintain an emergency fund and save for planned purchases and keeping it separate from the account you “spend” from.

There are many types of savings accounts, so select one that works for you and your savings strategy.

Find the savings option that works for you

Taking steps to build your savings and providing yourself with a financial cushion is incredibly important to achieving financial independence and achieving your goals. Be sure to connect with your bank about your needs and hopes so they can help you achieve all your financial objectives.

UMB personal banking solutions offer convenience and simplicity to meet all of your past, present and future financial needs. From home loans to auto financing and everything in between, see how UMB personal banking can work with you to find the right products for your life and lifestyle.

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