The #FridayFive: PSI, FBF, & the Vault
If you aren’t already on the Twitter bandwagon, it’s possible that you missed out on some great tweets from @AmericaSaves! ICYMI, we want to share with you the top five pieces that highlight important topics for savers and partners alike.
Whether they’re articles or blog posts from America Saves, its local campaigns, or its partners, we’re sharing with you the best of this week’s personal finance, savings, and financial news.
This week’s #FridayFive are:
1. Early this week, America Saves released its latest Personal Savings Index report. Perhaps unsurprisingly, the report indicated a notable decline in personal savings interest and effort among millenials between September 2013 and September 2014. Continued low and under employment married with high debts are thought to be a major contributor to this drop. The report was launched just prior to the release of the "15 Economic Facts About Millenials" report from the President's Council of Economic Advisors. I know that I, for one, will be interested to compare the results of the PSI with the data explored in the White House report.
2. This fall, the CFPB and FDIC have paired up to work on a joint education and awareness campaign directed at parents about savings; specifically about teaching their children about savings. If you've read it once, you've read it a million times: parents are the earliest and most influential source for financial (read: SAVINGS) education. Are you talking with your children about savings? Can you imagine how much easier it would be to wrap your head around budgeting or prioritizing an expense if you'd simply overheard your parents talking about how they make decisions aloud? It really can be that easy to start the conversation.
3. In the weeks that followed cfed's Assets Learning Conference, there has been continued discussion of the need for asset building at an early age and the impact of establishing good savings behaviors from an early age. This week, cfed President Andrea Levere published a stellar op-ed that provided the general public with basic insight on what Children's Savings Accounts are and what they're capable of.
4. America Saves Communications Director Katie Bryan was featured in this week's Experian #CreditChat on Money Management Tips for Couples. In addition to the great share of information that takes place during these chats, we learned that nomenclature can mean everything! Do you cringe at the sound of the word "budget"? Call it a "Money Plan" instead! "Emergency fund" have to much accessibility in the name? Call it the "Vault" - a place where money goes in and doesn't come out. Has a ring of permanence to it, no?
5. Our fifth on the list is a #fbf (flash back Friday, for you non-Twitter folk) style post! September was a stellar month for America Saves, and in all the activities, we missed these super awesome and amazing (too many superlatives?) shout outs from CNBC Personal Finance Correspondent Sharon Epperson! In her article on CNBC and on TODAY Money, Sharon discusses 10 tips to save $1,000 by the end of the year. As studies showed us all this summer, most folks don't have an emergency savings of $500. Check out her article for some of these quick tips for savings. Thanks for calling on us, Sharon!
A little can go a long way: Sharon Epperson's 10 tips to save $1,000 by year-end http://t.co/vfgbDTNgQB— TODAYMoney (@TODAYmoney) September 18, 2014
Thanks for joining us for this week’s #FridayFive! We’ll see you here next week.
- Written by Tammy G. Bruzon
- Category: Blog
- Published: 10 October 2014