From Yahoo Finance: 2025-06-02 13:01:00

Financial advisor turned social media influencer Humphrey Yang believes it’s possible to double your savings in just one year by making strategic changes to major expenses. He suggests focusing on high-cost categories like housing, transportation, food, and insurance to see significant gains in your savings. Yang also recommends reverse budgeting and aiming to save 20% of your income for a comfortable retirement. To achieve this, he advises breaking down large savings goals into manageable chunks and keeping your savings in a separate “vault” account to prevent casual spending.

Read more: How To Double Your Savings in a Year, According to Humphrey Yang