Savings strategies are methods that help individuals set aside money for future needs or goals. Common strategies include creating a budget to track income and expenses, setting specific savings goals, and using high-yield savings accounts to earn more interest on saved funds. Automating savings by scheduling regular transfers from checking to savings accounts can also make saving easier. Another effective strategy is the 50/30/20 rule, which suggests allocating 50% of income to needs, 30% to wants, and 20% to savings. Additionally, using tools like envelope budgeting or savings apps can help individuals stay disciplined and motivated in their savings journey.