March 2012
Young Illinois Saves Leader Listening Session Video
March 22, 2012
In November, 2011 Young Illinois Saves was featured at the President’s Financial Capability Advisory Council Listening Session in Chicago.
The event at Michelle Clark High School was attended by more than 100 civic and educational leaders including Council Chairmen John Rogers, CEO of Ariel Investments and council member and Beth Kobliner, national financial journalist. These civic and educational leaders had the opportunity to see the peer based program that generates positive savings behavior led by Young Illinois Saves.
Below is video of teen leaders teaching others about saving at the event.
2011 Top America Saves Saver Goals
March 21, 2012
By Katie Bryan, America Saves communications manager
A recent study found that having a savings plan has beneficial financial effects, even for lower-income families. No matter what you are saving for we want to help you reach your goals. When you join America Saves we ask you to choose a goal, an amount to save towards that goal, and the number of months you want to save for.
In 2011, America Saves Savers top goals included:
So what are you waiting for? Choose your goal and make your savings plan today by becoming an America Saves saver.
Take our Facebook poll to let us know your saving goal.
The Importance of Building a Nest Egg
March 14, 2012
By George Tanaka
Senior Vice President, Retail Specialized Markets Division
Union Bank, N.A.
Whether they would like to set money aside for a down payment on a home, build an emergency fund or save for retirement, many of our clients are interested in ways to save and create a nest egg for the future.
Financial advisors agree that saving should be a part of every household budget. Unfortunately, many Americans aren’t prepared for financial emergencies and are not saving enough for retirement. Like most skills, saving money gets easier with commitment and practice. Just as an artist hones his skill to master an art, consumers can develop their skills and creativity to master the art of saving.
By identifying your savings goals, creating a plan and reviewing it periodically to determine if any modifications are needed, you can start on the road to savings. Consider these tips:
- Assess your spending. When creating a savings plan, it is important to make sure you are spending less than you earn. Start by looking at exactly how you spend your money; carefully track your spending for one or more months to see precisely where your money is going. Many people are surprised to see how, for example, the cost of a daily cup of coffee adds up, or the budget effects of regularly dining out. Once you have a handle on how you are actually spending, it may be easier to identify specific areas where you can cut back.
- Open a savings account. Establishing a savings account and contributing to it regularly will help promote savings. Almost all financial institutions allow account holders to set up automatic weekly or monthly funds transfers from their checking to their savings account. This method of saving allows savings to grow, even if you don’t take further action, and helps you approach savings as a “bill” that must be regularly paid.
How I Learned to Budget in D.C.
March 12, 2012
By Kristina Wedseltoft, America Saves Intern
Moving from California to Washington D.C. for 3 months was a drastic change in it itself, but learning how to budget my money effectively was an entirely different kind of change. In San Diego I had a job working at our school bookstore and for the most part didn’t really concern myself with creating or following a budget. But once I came to D.C. my only source of income was going to be the money my mom gave me on the first of each month. Before I left California I decided to create a budget that I thought would be perfect. But it wasn’t until I was here in D.C. that I figured out my spending habits had to change.
Only being here for a short period of time, I figured it would be easy. For the first couple of weeks I tracked everything I spent from each Starbucks coffee to grocery shopping. I quickly realized that I needed some help, so the first things I looked into was utilizing some budgeting applications that I could keep with me at all times on my iPhone. But even though I created a budget, I found that the quickest way to learn how to save money was from my mistakes.
There is an easily accessible ATM in the lobby of our building, that’s what I thought until I learned firsthand about all the charges that come with the “convenience factor”. I definitely learned the hard way, because after falling for the ATM trap, I ended up with $6 in fees. Not only did the ATM charge me a fee, but so did my bank! Many people, including those I’m living with, tend to ignore these fees that can be easily avoided and could be saving about $150 a year! Instead of using an ATM that may charge you a fee, try locating the closest ATM of you bank, it could be just around the corner. Also many stores today offer a ‘cash back’ option, so if you’re desperate with no ATM, pick up a pack of gum or mints and take out cash that way.
Top 10 Complaint Categories for 2011
March 7, 2012
By Kristina Wedseltoft, America Saves Intern
Last week the Federal Trade Commission (FTC) released the Top 10 Complaint Categories for 2011, with identity theft ranking first for the 12th consecutive year. Of the 1.8 million complaints filed with the FTC in 2011, roughly 15% were identity theft complaints. The FTC maintains an online secure database called the Consumer Sentinel that it enters the complaints into. These are then accessible to more than 2,000 civil and criminal law enforcement agencies in the US and abroad, helping identify victims, research cases and track targets. To learn more about how you can protect yourself against identity theft visit www.IDTheftInfo.org
David Vladeck, Director of the agency’s Bureau of Consumer Protections said the “Consumer Sentinel Network is an incredibly powerful tool for law enforcers who are working to protect consumers and go after the bad guys”.
Following identity theft, the list of complaints in the top 10 included:
- Debt Collections with a complaint rate of about 10% of respondents
- Prizes, Sweepstakes and Lotteries with 6% of respondents
- Internet Services with 5% of respondents
- Imposter scams with 4% of respondents
- Advance-Fee Loans and Credit Protection/Repair with 3% of respondents
You can find the complete list of all 30 complaint categories and the Press release for the Top 10 Complaint Categories here. If you would like to file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357).
More Articles...
Page 2 of 3
«StartPrev123NextEnd»