September 2011
iPhone Leads to Saving Success
September 29, 2011
By Charlie Tiseo, Money Smart Kid Chicago 2011
Being a twelve-year-old kid I don’t really have the opportunity to get a job, but for me there are some ways to earn money such as allowance or gifts. I make a habit of only spending some of this money, not all of it. The more money I put into my savings account or piggy bank the faster I will reach my savings goal of, let’s say, buying a phone - and that’s how the story starts.
A couple of years ago I was doing lots and lots of chores to save up for an iPhone. At the time, an iPhone cost $100 and I only had $35. After about two months, I had made $80. It was getting close to my birthday and all I needed was a bit of extra cash. That bit of cash was enough to get my phone, and I was super excited. I couldn’t sit down on the way home, not only because I had an iPhone but also because I worked hard to get it.
Making Extra Money
By Katie Bryan, America Saves Communications Manager
When it comes to saving money, you have two options – cut expenses or increase your dispensable income. For most Americans, our largest expenses such as housing and transportation are fixed and cannot easily be reduced. So what do you do when you’ve cut all the expenses you can?
Get rid of things you no longer need:
- Take a look in your closets, attic, or storage space. Chances are you’ve accumulated some items you no longer need. Sell unwanted items like DVDs, video games, or comic books to specialty stores which generally give you a better deal.
- For collector’s items or items of higher value, list online through auction websites.
- Hold a garage or yard sale to get rid of your remaining items or things of lower value. If you don’t have much to sell, consider hosting a joint or neighborhood sale to increase traffic.
Saving for College: 529 Accounts
September 26, 2011
By Sean Naron, Consumer Federation of America Advocacy Associate
Recently, America Saves reached out via Facebook and Twitter to find out some common questions people had about saving more successfully. With schools finally back in session and the official start of fall right around the corner, many concerned parents have asked about college savings plans, specifically, the benefits of what is commonly known as a 529 savings plan.
What is a 529 plan?
Originally designed to be the collegiate equivalent of a 401(k), a 529 qualified tuition program (QTP) is a state administered tax-advantaged investment plan designed to allow families to prepare for the cost of college over a period of time.
The 30 Day Challenge Is Almost Over!
September 22, 2011
By Katie Bryan, America Saves Communications Manager
You’ve already set your budget and savings goals for September and have been keeping track of how much you have spent – now what? Now it’s time take another good hard look at your monthly spending. If you didn’t start the 30 day challenge with us at the beginning of September, it’s not too late to join. This week is a crucial week to check in on your finances. You might find yourself in a position where you are right on track with your spending. You may even be able to put more into savings or towards your goals than you thought.
But if you’re anything like me, this is the week you need to figure out how much money you have left to spend – and it may be less than you thought you would have.
Webinar – Savings Tips for College Seniors and New Employees
September 21, 2011
By Katie Bryan, America Saves Communications Manager
TweetAmerica Saves is conducted a free webinar with the Department of Labor and the Women’s Institute for Secure Retirement to encourage and motivate young workers and those soon to be entering the workforce to save at work.
Time is On Your Side – Savings Tips for College Seniors and New Employees
Webcast – September 22, 2011
1:00 pm to 2:15 EDT
Sponsored by the U.S. Department of Labor, Employee Benefits Security Administration
Watch the webinar now - http://event.on24.com/r.htm?e=356763&s=1&k=5B803C33F30D189F60D4EB4A945E06C0
Whether you are looking ahead to graduation or just starting your career, you probably have a number of financial decisions to make. The U.S. Department of Labor is sponsoring this webcast to provide information to help you manage your money so you can do the things you want to do in the future – both short-term and long-term. You may feel like you are not earning very much and there are a lot of demands on your income. But if you start saving even a little, that money will have time to grow.
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