Many consumers have heard that term but fail to implement it as a strategy in their own personal finance.  A great way to save for a financial goal (or retirement) is to set up a routine, automatic periodic investment program into a solid growth and income mutual fund.  It’s less complicated than its name.  Just specify the amount per month (say $100) that you think you can afford. The amount can be withdrawn automatically from your checking account.  And, try to save at least 25% of annual bonuses or windfalls by writing a check and depositing using a tear off coupon-type deposit slip you receive after the first routine deposit.  This investment style, sometimes referred to as “dollar cost averaging” is a good approach to investing because you end up purchasing more shares when the price of the fund is low.  It’s a proven technique, but remember, dollar cost averaging does not assure a profit or protect again loss in declining markets.