The Federal Reserve cut interest rate cuts three times in the past four months, making many loans, credit cards, and auto financing less expensive.

However, interest rates are still at their highest in decades and Americans thinking about their future finances more than ever. Remember: high-interest environments favor the saver.

No matter your age, putting money aside consistently can restore confidence and build savings. Making simple changes to build positive habits can make a big difference.

Mathematically speaking, the earlier you start, the more potential savings can grow. This basic concept of compound interest is a cornerstone of building wealth over time. Get started today. When money earns interest, the interest itself earns more interest, creating a snowball effect.

One of the hardest parts of saving is finding money to save. Start with the simplest things. Start recording expenses. Cut out any non-essential spending, and direct that free cash toward savings. Any unexpected windfalls, such as bonus checks or gifts, should go directly into savings, as well.

What you don’t save, you should invest - wisely. Most analysts still recommend the “forced savings” concept behind buying a home. Home equity can be a source of important income as you age, as well as providing a place for you to live.

Contributions to employer-sponsored 401Ks or similar savings plans are often tax-deferred, which can also help reduce taxable income in the present. * As life changes, whether through promotions, career shifts, or other milestones, contributions can be adjusted accordingly.

Simply put: To save money, live below your means, not beyond them. Whether earning $50,000 a year or $500,000, when people make more, they almost always end up spending more. If you make a habit of saving and avoid lifestyle inflation, you’ll be in a better position to build wealth regardless of your income level.

*Consult a tax advisor