Put your savings on autopilot.

There are ways to put people's savings on autopilot, and they can get started with a minimum of paperwork and money. An automatic savings plan will help people painlessly build up assets to confront a financial emergency, pay their children's college tuition, and retire comfortably. If people have their paycheck automatically deposited into a savings or checking account, they've already taken the first step. Financial planners recommend having an emergency cash fund of three to six months' living expenses to turn to if people lose their job, suffer an extended illness, or incur any other short-term financial crisis. It should be a top savings priority. People should keep this money in a safe investment that they can access on a moment's notice, such as a savings account or money market account at a bank or credit union, or in a money market fund from one of the big-name mutual fund companies. The best and easiest place to save for retirement is in the company's 401(k) plan, or 403(b) plan if a person works for a nonprofit firm.