America Saves Blog

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

True Story: Save Automatically. Win Rewards!

Written by Super User · 25 April 2012

April 25, 2012

By Jean Park, SaveUp director of marketing

Back in January, America Saves teamed up with SaveUp, an innovative free rewards program where American Savers can get rewarded for saving money and paying down debt.Together, we hosted a $1000 Savings Prize to motivate Americans keep their New Year’s resolution to save more money. This prize was awarded to Laura Nyberg of Amalga, Utah. Laura works at a government agency that helps low-income families improve their financial asset building by setting goals, creating budgets, and building savings---which is how she came to learn about America Saves.

Although Laura was already pretty money-savvy when it came to her personal finances, America Saves has also helped her plan for the future of her own family, particularly in terms of retirement for Laura and her husband, and their children’s education. This year’s theme for America Saves Week, “Set a goal. Make a plan. Save automatically” especially helped motivate her to save:

 

I had all these intentions to start savings accounts for my kids, but we always had new expenses--something’s always breaking down. I was reading through a lot of the America Saves newsletters and they really encouraged me. Now, as soon as I get paid, money automatically goes into a savings account for my kids and an account for me.

-Laura

 

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.

Getting Teens Ready to Face Huge Financial Events

Written by Super User · 16 April 2012

April 16, 2012

April is Financial Literacy Month and Channel One News wants to help you give teens the knowledge to make educated, financial decisions now, and throughout their lives. From preparing for prom or buying a car, to saving for college or getting risky credit card offers in the mail when they turn 18, young people need to be ready to handle the spending, saving, and yes…even debt… coming their way as the school year comes to an end.

ChannelOne.com/GenerationMoney

Tools for teachers. The Generation Money micro site, features discussion guides and straightforward, informative lesson plans for download, including:

1)      Lesson Plan: The Emergency Fund
2)      Lesson Plan: Debt Elimination
3)      Lesson Plan: The True Cost of Owning a Car
4)      Lesson Plan: Opportunity Costs
5)      Lesson Plan: Before You Choose a Credit Card
6)      Lesson Plan: Understanding Credit Scores
7)      Lesson Plan: Introduction to Earning Interest

Learning adventures for teens. Consider having students take the “Test Your Financial Knowledge Quiz” to find out how much they know about financial matters.  They’ll also find fun and interactive calculators to learn about compound interest and ways of saving for college.  Plus, there’s plenty of reading material tailored for teens about how banks, stocks, bonds and other financial institutions and tools work.

Made possible by:

Events for Financial Literacy Month

Written by Super User · 11 April 2012

April 11, 2012

By Katie Bryan, America Saves communications manager

It’s Financial Literacy Month and a number of organizations are holding free events to help you improve your finances. From webinars for college seniors to learning how to live on less during retirement, there is a free event out there for you.

Today (4/11/2012)

Tuesday 4/17/2012

  • Learn How to Live on Less in Retirement with the Ultimate Cheapskate! AARP Financial Webinars

Wednesday 4/18/2012

  • Key Financial Steps for College Seniors and Young Workers
    • U.S. Department of Labor will be joined by speakers from the Consumer Federation of America/America Saves, the National Endowment for Financial Education, and the Society for Financial Education and Professional Development
    • 4:00 pm to 5:15pm EDT
    • Click Here to Register

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Tip of the Day

  • Written by Katie Bryan | November 23, 2013

    Tip to #Save: Pay off Credit Cards as Soon as Possible. http://ow.ly/FJyDM via @Bankrate

Saver Stories View all »

Starting and Continuing a Personal Finance Journey

Written by Sara Cooper | December 23, 2013

When Kiara Hardin, now a junior at Western Illinois University, became an intern with the Chicago Summer Business Institute during her sophomore year of high school, she began her personal finance journey. The program required participants to open a savings account.

Read more...

The Gift of Homeownership

Written by Tammy G. Bruzon | August 5, 2015

Quaneka Willis, a single mother of three children, was receiving rental assistance through the Housing Authority of the City of Milwaukee when she decided to take control of her finances. So, in September of 2013 she attended the Make Your Money Talk program and pledged as a Wisconsin Saver. In less than 12 months, she had maximized her savings and was beginning the process of purchasing her first home.

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Transforming “I Can’t Save” to “I Will Save”

Written by Guest Blogger | January 13, 2016

You will not believe what it took to completely change my life. About three years ago, the HR Administrator of the corporation where I worked (as a temp with no benefits) forwarded an email to me. Fifteen seconds. One small act of kindness. That's it - that's all it took!

Read more...

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