Setting up a nice savings account is a major goal for millennials. What if I told you it was a lot easier than you thought? Scrap the traditional budgets and the finance self-help books. These five steps will make saving $20,000 easier than you would ever expect— and faster at that.

Account For All Income

Make sure you know exactly how much money is coming in each month, down to the penny. Have a side gig or a quarterly bonus? Schedule it in your income. This will help you keep track of each penny you earn, so you don’t waste it on frivolous items.

Determine Fixed Expenses

Tally up all of your expenses that will not change month-to-month, such as rent, loan payments, groceries, gas, and more. Understanding your fixed expenses will help you get a good idea of how much you can give to yourself as an allowance, which we will go over next.

Set Your Allowance

Now, subtract your expenses from your income to find your net income. Based on this number, give yourself a conservative allowance for flexible expenses such as public transport, meeting up with friends for coffee, or whatever else you see fit. Don’t be afraid to adjust this number if you’re budget is too tight, but don’t overspend either!

Find Room For Fun

The allowance is there for a reason. If you can fit a nice dinner with friends into your monthly allowance, take the opportunity. Saving too hard and too much will make this whole process too depriving. Focus on your goals is important, but don’t be afraid to live a little at the same time.

Transfer Your Savings

Now, all that money you saved month-to-month should be moved into a high-interest savings account. DO NOT TOUCH THE MONEY IN THIS ACCOUNT. On a $45,000 salary, you should have been able to save around $1,000 per month. In less than two years, that’ll add up to $20,000 in savings.