7.) Make savings easy via "set it and forget it."

Automated changes, like increasing workplace 401(k) plan contributions, setting up direct deposits from paychecks into dedicated savings accounts, and arranging for monthly transfers into an IRA and/or 529 college savings accounts all add up quickly, McBride said.

It is critical to save for retirement. Consider that the median retirement savings in the U.S. is a mere $87,000 per household, according to The Motley Fool.