The National Association of Insurance and Financial Advisors - SC Chapter (NAIFA-SC) announces an initiative where NAIFA-SC members share their advice on smart financial saving tips.

A few smart financial savings tips from NAIFA-SC members:

· Track your spending. The best way to save is to know what you spend. Track your spending for at least one month. Determine which expenses were necessary and which expenses were unnecessary. After analyzing your spending, make sure to create a budget that includes a line item for savings. - Sheila Chaplin, CFP, Independent Advisor, Charleston, S.C.

· What better person to take care of the older person you will someday be than the younger person that you are now? – Johnny Craven, LUTCF, Walterboro, S.C.

· Teach savings habits early. Children respond well to learning about savings - especially when there is a visual component and, of course, a reward. Try creating a savings station - an area where a picture of a coveted item can be displayed along with a piggy bank. When your child earns his/her allowance or receives monetary gifts from relatives, suggest that a portion of that money be saved. You'll soon be amazed at how often and how much they want to contribute. - Sheila Chaplin, CFP, independent advisor, Charleston, S.C.

· Pay at least 10 percent per month to start a savings fund and don't touch it. - Evelyn Butler, LUTCF, CLTC, New York Life, Greenville, S.C.

· Pay yourself first. Set up a payroll deduction or automatic bank draft to deposit to your savings. - Steve Leslie, CLU, ChFC, Leslie & Associates, Clemson S.C.

· Not planning for your long term care is a major financial planning mistake. - Joe Riley, III, Charleston, S.C.

· Create a Roth IRA account for your recent graduate. Instead of giving cash, agree to deposit that money into a Roth Individual Retirement Account. Then encourage your graduate to do the same on a monthly basis with their earnings. - Sheila Chaplin, CFP, independent advisor, Charleston, S.C.

· 401k Match - Always contribute to your 401-K the maximum amount that your employer will match, but not more than the match amount. Use the additional amount that you are able to save to fund an account that will avoid taxation as income in the future...like a Roth IRA or a cash value life insurance policy. - Steve Leslie, CLU, ChFC, Leslie & Associates, Clemson, S.C.

· Get paid what you're worth and spend less than you earn. Know what your job is worth in the marketplace. Being underpaid can have a significant effect over the course of your career. No matter how much or how little you're paid, you'll never get ahead if you spend more than you earn. - Doug Jolley, Managing Partner, Southern Health and Retirement Planning, Irmo, S.C.

“The launch of Smart Savings Month has been such a success and source of excitement among our members," said NAIFA-SC President Evelyn Butler, LUTCF, CLTC, of Greenville, S.C. "Being able to dig deep and come together with our best ideas and tips has been a great test to our skills and expertise as insurance and financial advisors. Within our membership, we have so much talent and financial wisdom. We are so excited to share our best financial savings tips and hope to inspire a financially savvy lifestyle! Be sure to follow our Facebook and Twitter for tips this month!”