Set a Goal, Make a Plan, Save Automatically.

February 20, 2012

By Katie Bryan, America Saves communications manager

The theme for America Saves Week 2012 is more than just a theme; it’s a simple set of instructions to help you save successfully. Set a Goal. Make a Plan. Save Automatically. Knowing what you want to save for, how to achieve it, and then making the savings process automatic will allow you to reach your savings goal.

Set a Goal

You can save more by having a goal in mind. Visualizing what you want to save for gives your savings a purpose. You may be tempted to withdraw from your savings if it has no purpose. But once you have a goal in place, you know that taking money out of your savings is taking away from that ultimate goal. So what are you saving for? An emergency fund, a home, retirement, a car? Go Viral with Your Savings Goal.

Make a Plan

Once you have your goal in place, make a plan of how you are going to save. To start, cut down on your spending and reduce high-cost debt. Next, keep track of what you spend and make a budget. Once you know where your money is going each month, you can cut down on unneeded spending and save the difference.

Don’t forget to keep your savings safe, secure, and growing. Banks, credit unions, and even the government offer a variety of financial products that can help you save.

Save Automatically

It can be hard to put aside money for savings. But there is an easy way to save money without ever missing it. Once you know how much you can save, make saving automatic. Many employers allow you to divide your paycheck into different accounts through direct deposit. Take advantage by putting part of your pay into a savings account. If you get paid in cash, take a small amount to the bank to deposit into a savings account each week.

 

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Tip of the Day

  • Written by Tammy G. Bruzon | February 2, 2018

    Save and invest wisely this America Saves Week by asking these important questions from the @SEC about the fees you pay: http://bit.ly/2nPXwtr #ASW18

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To celebrate America Saves Week (Feb. 26-March 3, 2018), America Saves is launching the #ImSavingForSweepstakes. It’s easy to enter. Start by taking the America Saves Pledge below for your chance to win $500 toward your goal, then boost your potential prize by an additional $250 by sharing your savings goal, story, or tip on Facebook, Instagram, or Twitter. After pledging, you will receive an email to confirm your entry and instructions on how to enhance your entry by sharing on social media. See the Offical Rules. Questions or problems entering? Contact us

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