The next step is to determine your net worth and begin adding to it.
Determine Your Net Worth:
Your net worth is what you own minus what you owe. Programs such as Mint.com, Quicken, and Microsoft Money will calculate your net worth for you, automatically.
You can also determine your net worth simply by adding up all that you own, including all of your investments, the equity you may have paid into your home, the value of your car, and any other assets you possess; and subtracting what you owe in remaining debts.
Set Up a Savings Account:
Once you know where you stand, you'll be ready to set up a savings account. You can do this through your regular bank, or begin investing in a mutual fund that pays interest.
Even if you can only afford to set aside $25 or $50 per month, it will begin to add up.
Before you know it, you'll have an emergency savings plan in place, to protect you in the event that your car breaks down, or your home needs a major repair.
In addition, this regular savings will help you increase your net worth over time.