Did you know you’re more likely to save a windfall than a small amount consistently over time? Hack that psychology by saving your bonuses, raises, and tax refunds.

My parents were hard-working first-generation Americans who were born during the Depression. My mother was a nurse and my father a businessman, and they were loving and supportive parents, but they were extremely frugal with money. “You’re only as rich as the money you have in the bank,” my mother used to say. “If you save nothing, you have nothing.” When we were young, my brother, three sisters and I were expected to work, and save half of everything we earned.

Studies show few Americans have adequate savings for retirement but it’s never too late – or too early – to start saving.

Written by Catherine Harvey, Senior Policy Advisor, AARP Public Policy Institute

If you’re worried about financial security in retirement, you’re not alone. A recent survey from AARP and the Ad Council found that nearly three in ten working adults (28%) believe they’re more likely to learn that Bigfoot is real than to live comfortably in retirement.

The American Bankers Association Foundation knows how much teens love to talk about money, or at least their grandiose plans to spend it. Getting students to think critically about their spending habits and understand the importance of saving, however, often poses challenges. That’s why each year the Foundation holds its annual Lights, Camera, Save! teen video contest.