The #FridayFive: Building Financial Literacy

Do you follow @AmericaSaves on Twitter? If not, you may have missed out on great articles or posts this week about personal finance, savings, or news from America Saves and its campaigns. ICYMI, we share with you each Friday the top five pieces that highlight important topics for savers and partners alike. 

This week’s #FridayFive are:

1. Education savings is on the brain here at America Saves HQ! This week, USA Today shared details from a recent study by Allianz Life of single parents' savings habits. They found that nearly half of single parent respondents "identified their children's education as their primary motivation for developing and executing a long-term financial plan." In many instances, this translates to: children's education now, retirement later...maybe. While we were excited to hear that goal-based savings played a significant role, don't forget that retirement savings can often be an easy "set it and forget it" means of future planning!

 

2. 85% of young people surveyed by TIAA-CREF indicated that they would want to have conversations with their grandparents about money and savings. Surprised? Whether it's saving for college, planning for a big purchase, learning to invest or simply learning how to save, having the conversation can help grandchildren of all ages learn smart lessons!

 

3. The Urban Institute recently revealed that 35% of Americans have accounts in collections, bringing up the ever-asked question: Why aren't people reaching out for help? In the 2014 NFCC Financial Literacy Survey, consumers admitted to the often false beliefs that have kept them from seeking assistance. Misconceptions about financial counseling, embarrassment, and fear of the impact on (perhaps already damaged) credit topped the list.

 

4. We certainly think that this could apply to many things in life, but when you're seeking out someone to help you organize your present in order to plan for your future, the last thing you want is someone who gets you further lost in the weeds. Credentials are important, but not the whole; find someone who speaks your financial language!

 

5. Credit myths are like hydras - just when you think you've squashed one, two more grow in its place. This one, however, is really intriguing and really calls attention to the fact that everyone has more than one credit score and therefore more than one credit report! #themoreyouknow, #amiright?

 

Thanks for joining us for this week’s #FridayFive! We’ll see you here next week.

 

Did you come across a savings-focused article or blog that is a must read? Share it with us on Twitter (@AmericaSaves) using #FridayFive or send an email to This email address is being protected from spambots. You need JavaScript enabled to view it. with #FridayFive as the subject.

Take the Pledge

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

Take the America Saves Pledge

Tip of the Day

  • Written by Administrator2 | January 14, 2014

    To minimize interest charges, limit credit card purchases to those you can pay off in full at the end of the month. In the end you'll have more for emergency savings. http://ow.ly/FJyVP

Saver Tips and Stories View all »

Meet Esmeralda: 2019 SaveYourRefund Grand Prize Winner

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.

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...

#ImSavingFor Winner Story

Written by Lindsay Ferguson | June 13, 2019

America Saves awarded one lucky saver, Pedram R. from California, $750 for sharing his #ImSavingFor story. Pedram said, “Saving is important to me because it proves I am not willing to buy unnecessary things to please others or to be perceived as successful.”

Read more...

Receive Updates

Take the Pledge

Written by Super User | September 16, 2013

Start Saving

Receive Texts

Written by Tammy G. Bruzon | July 15, 2014

Learn More

Partner News & Updates

Written by Katie Bryan | October 18, 2013

Sign Up