Inspired to Build Savings By Starting Small

With little-to-no money in the bank and living on a limited income with her adult daughter, Sharon wasn’t sure if building up savings for her future was even possible. “At my age, to put debts behind me would be a relief,” she said, but she wasn’t quite sure how to even get started with a savings plan. That all changed when Sharon attended the Great Lakes Michigan Saves Pay Yourself First Saver’s Summit during America Saves Week.

Great Lakes Michigan Saves Pay Yourself First Saver’s SummitShe was inspired by the saver stories shared at the event and was intrigued by the positive impact even small savings could have for someone like her. She knew she had to get started right away. After taking the Savers Pledge, she created a plan to save at least $20 a month from now on, but if she can manage more, she will. Her goal is to be stress free from bill collectors forever, and with all of the great tips she learned at the Summit, she’s taken a great first step. Now, she plans to spread the word about saving to family and friends.

Ivory is a super saver who also took the Saver Pledge at the Summit. Some time ago, she and her family created a very strict budget plan with the goal of buying a home, and purchased their first home last year. As she was saving, Ivory also improved her credit score and put money into a savings account. Though she’s been successful, it hasn’t always been easy sticking to the budget. “I have made my family sacrifice for two-and-a-half to three years, and now I would like to show them my appreciation by planning a trip,” she said. “The Saver Pledge is giving me the means to do that.”

Just like Sharon and Ivory, every participant at the Pay Yourself First Saver’s Summit took the Saver Pledge, inspired by testimonials from successful savers and examples of how Great Lakes Michigan Saves has helped many families.

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Savers who make a plan are twice as likely to save successfully. 

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Tip of the Day

  • Written by Administrator2 | January 12, 2014

    Keep track of your spending. At least once a month, use credit card, checking, and other records to review what you've purchased. Then, ask yourself if it makes sense to reallocate some of this spending to an emergency savings account. http://ow.ly/sj972

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Written by Lindsay Ferguson | June 4, 2019

“I have a goal, and I am going to achieve that goal.” 2019 SaveYourRefund Grand Prize Winner Esmeralda says that savings has always been about achieving self-sufficiency amidst tremendous adversity. “It’s hard to pay myself first,” says Esmeralda, particularly when you have to anticipate emergency expenses like a broken down car.

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