Young America Saves
Everyone, young and old alike, can benefit from making savings a habit, and Young America Saves can help! Savers who enroll online create their own savings plan by setting a monthly savings goal, as little as $5, and then try to save that amount each month.
Saving money on a regular basis means that you are ready for what the future brings. The money will be there when you need it-- whether it’s for a new outfit, a trip to the movies, or starting a college career. So enroll in Young America Saves, create your savings plan, and start saving today!
Young America Saves offers the following advice to young people beginning to save:
- Create a savings plan and goal. Pick something you want to save for -- like your college education or a car -- and an amount that you can realistically save every month. Most young savers choose to save between $5 and $25 dollars a month, but save more if you can.
- Keep your savings in a bank account or some other place that is not easy to access. If you keep the money you want to save in your wallet, it’s too easy to spend.
- Have a plan for making regular deposits into your savings account or piggy-bank. If possible, it’s best to make your deposits automatically, by asking your employer to deposit a portion of your paycheck directly into your savings account. Or, set a schedule for yourself and pick one day each week or each month to make a deposit.
Who can be a Youth Saver?
Anyone over the age 13 who enrolls online and agrees to work towards a saving goal can be a Young Saver. Savers set a monthly savings goal, as little as $5, then try to save this amount each month. By enrolling online, Youth Savers are eligible for special Saver Benefits.