Mom, Dad, and young son smiling and laughing in a park.

Saving as a Family

By Sarah M. Ellis, UF/IFAS Extension Citrus County

When you have a family, it seems like there is never enough money to go around and saving money frequently gets pushed aside. However, saving money can help stabilize your family’s financial life.

Saving is putting money aside for future use and requires discipline and, at times, denial. Therefore, it’s important to discuss the importance of saving with the whole family. Generally, people save with a goal in mind. Do you have an emergency fund? Do you need a new car? Would you like to take a family vacation?

If you do not have an emergency fund, establishing one should be your first goal. Life happens and you never know when a family member or pet might get sick or have an accident. Having money set aside in case of an emergency helps you avoid building debt if a crisis occurs.

How much money should be in your emergency fund depends on your family size, income, spending habits, and job security. It is recommended, if possible, to have three months of income in your emergency fund. Saving three months of income might seem impossible, but how much you save is less important than how often you save. Small, but consistent, savings add up over a period of time.

Once you have your emergency fund established you can start saving for other needs or wants!

For saving tips visit America Saves’ 54 Ways to Save Money.


Let America Saves help you save money so you can feel confident about your finances. It all starts when you make a commitment to yourself to save. Take the first step today and take the America Saves pledge to save money, reduce debt, and build wealth over time. And it doesn't stop there. America Saves will keep you motivated with information, advice, tips, and reminders to help you reach your goal. Think of us as your own personal support system.

TAKE THE PLEDGE


Here's how saving money can help stabilize your family's life >> http://bit.ly/2F1crF3 @AmericaSaves

Tweet this now

Take the Pledge

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Take the America Saves Pledge

Tip of the Day

  • Written by Katie Bryan | November 20, 2013

    Don't be left in a lurch. Plan for your #holiday #spending! http://ow.ly/r0Sg0

Saver Stories View all »

Developing a Savings "Game Plan"

Written by Katie Bryan | October 28, 2013

Eunice Diaz, a teacher in Colorado Springs, had been noticing a pattern. Despite the fact that she and her husband were “making good money,” they were spending their entire earnings and “were still struggling at the end of the month.”

Read more...

Learning to Save

Written by Katie Bryan | October 28, 2013

Kisha Barns’s financial situation was undisciplined, unrestricted, and impulsive before she came into contact with her local America Saves campaign, Charlotte Saves.

Read more...

Another Dream Realized

Written by Tammy G. Bruzon | November 7, 2014

Mary Brown was already a disciplined individual when she came to Wisconsin Saves coordinator Wisconsin Women’s Business Initiative Corporation (WWBIC) in last summer. She had successfully completed her bachelor’s degree with the assistance of her husband and son, and was now ready to tackle her next big dream – homeownership.

Read more...

Receive Updates

Sign up for Texts

Written by Tammy G. Bruzon | July 15, 2014

Sign Up

Sign up for Emails

Written by Super User | September 16, 2013

Get Emails

Take the Pledge

Written by Super User | September 16, 2013

Start Saving