Whether you're building an emergency fund, college fund or retirement account, there are plenty of reasons to build your savings. But, there are also major expenses associated with significant events and celebrations in life. For example, weddings, the birth of children and long overdue vacations are milestones you may be looking forward to. You're going to need a substantial amount of money for most of those things, so here are some tips to help you budget and build your savings in preparation for these special occasions.

Saving for a wedding

There are entire books on how to budget and save for weddings, but if you're looking for a few tips to get you started, keep these things in mind as you plan for the big day.

1. Determine who is paying for the wedding. Whether you'll have support from one of your families or will be financing the event yourself, this may be an important factor in determining how much you need to save.
2. Create a budget. Do your research and get a sense for how much venues, food, entertainment and wedding attire will cost in your area. To set a budget you can stick to, you need to make it realistic. Consider creating a checklist or spreadsheet with estimates of all your expenses.
3. Open a savings account [http://www.citizensbank.com/savings-and-cds/savings.aspx]. Having a dedicated wedding fund will help you stick to a budget, and online banking can help you can monitor the balance. Label this account "Wedding," and use it only for that purpose. You may choose to open a joint savings account, so that both you and your partner can make contributions.
4. Contribute to your savings each week or month. You can set up automatic deposits to make saving for the wedding even easier. For example, if you have a year to save, divide your goal amount by 52 weeks and contribute that amount to your savings each week. Saving and budgeting responsibly will help you enjoy your big day.

Saving for a baby

With the wedding behind you, it may be time to think about having children. This major life milestone will end up being more expensive than the wedding in the long-run, so position your family for financial success by following some of these tips.

1. Open a savings account or money market account. If you're planning to have children, open a savings account as soon as you and your partner (if you have one) make that decision. You'll be facing increased costs like health insurance, life insurance, baby clothes, formula, etc. Basically, you can't save too much for this momentous event.
2. Set a savings goal. Rather than haphazardly throwing money into your new savings account, set a savings goal. There are goal-oriented savings programs that can help you set a goal and stick to it. For example, the GoalTrack SavingsSM program from Citizens Bank will help you track your savings progress and even reward you when you achieve your goal. Plus, with a savings or money market account, you can access the money as you need it to buy things for your child.
3. Accept hand-me-downs. When you're expecting a new addition to the family, other parents may offer their old baby clothes and toys. Take advantage of these freebies. This will let you put all of your energy into building your savings for the future rather than buying things you could get for free. The only exception to this tip is equipment like car seats and cribs. You want to be sure you have the manual and the most updated safety features and warranties on these critical pieces.

Saving for vacation

If you've always wanted to spend a week in Hawaii, see the Grand Canyon or travel to Paris, it's time to start making that dream come true. Depending on the extent of your imagination, the amount of money you'll need to save for vacation may range from reasonable to extraordinary. But, if you start saving now and stick to a plan, you'll find your dream trip within reach.

1. Choose your destination. The first step in establishing your budget and setting a savings goal is to do some quick research and learn which destinations are within your reach. You may already have a dream getaway in mind, so explore that destination to see if it's feasible to do on your budget.
2. Estimate costs. Just like life's other expensive events, you need to start by assessing all foreseeable costs. How much is airfare? What about car rentals or public transportation? Don't forget about hotels, food, excursions, tours and souvenirs. Setting a realistic picture of how much you'll spend will help you save enough so that, when you take the trip, the spending will be guilt-free.
3. Open a savings or money market account. Vacations can be costly, so you'll want to start saving and earning a solid interest rate. Look into money market accounts to get your vacation fund started. You'll find competitive interest rates and, when the time comes to access the funds, you'll be able to do so easily.

No matter the event or expense, it's always wise to not spend more than you have. Avoid running up credit cards for life's major expenses. Follow these tips to save for a vacation, wedding or children, and you'll likely find these milestones are a little less stressful.