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Tips, advice, and the latest news from the savings world.

Successful Savings and Your Credit History

Written by Super User · 24 April 2012

April 24, 2012

By Katie Bryan, America Saves communications manager

April is Financial Literacy month and we want to make sure you understand the importance of your credit history and how this ties into successful saving. It is important for all Americans to have savings. Having a savings account allows you to pay for emergencies, gives you financial freedom, and can help you avoid credit problems that could hurt credit scores.

Having a strong credit history, reflected in good credit scores, allows you to qualify for lower interest rates and fees. This helps you to free up additional money to set aside for emergencies, retirement, and other smaller unexpected expenses.

The connection between successful savings and good credit plays an important role in your financial life. Not only is it essential for obvious things like qualifying for a loan or getting a credit card, but also for less obvious things like getting cellular telephone service, renting a car, and perhaps even getting a job.

Want to learn more about the importance of credit history and successful savings?

Download the Importance of Credit History and Successful Savings packet, which includes information on:

New Financial Aid Comparison Shopper

Written by Super User · 19 April 2012

April 19, 2011

By Katie Bryan, America Saves communications manager

April is the peak time when colleges send letters of acceptance. Approximately 1.5 million students will sift through 5 million letters this year. But acceptance doesn’t end the process.  Millions of American families also need to determine how to pay for school.  Unfortunately, financial aid information is often jargon-filled and unique to the institution sending it.  This can make it difficult for families to understand costs, evaluate loan options, and figure out how much debt to take on.

The Consumer Financial Protection Bureau (CFPB) launched the next phase of its Know Before You Owe student loan project by releasing a beta version of the Financial Aid Comparison Shopper, an interactive, online tool designed to help families plan for the costs of post-secondary education.

The Financial Aid Comparison Shopper is available here: www.consumerfinance.gov/payingforcollege

“Student loan debt has crossed the $1 trillion mark and tuition continues to climb,” said CFPB Director Richard Cordray. “Now more than ever, students and their families need to know before they owe. Our Financial Aid Comparison Shopper helps students make apples to apples comparisons of their offers and pick the one that works best for their financial future.”

CFPB Director Richard Cordray unveiled the tool at an event in South Dakota today with Sen. Tim Johnson, Chairman of the Senate Banking Committee.

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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 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.”

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Starting Over

Written by Katie Bryan | October 28, 2013

Until last summer, Michael Lindman spent money freely. “I was a union truck driver for 35 years and had a good income,” said Lindman. “I owned my own home, saved a little, and tried to live within my own budget. You always think there’s going to be that much coming in, but things can change in a split second.”

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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.

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