America Saves Blog

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

Saving for the Big Things

Written by Super User · 13 June 2012

June 13, 2012

By Mike Sullivan, Director of Education, Take Charge America (Follow them on Twitter)

Big purchases usually cost big bucks and that means a big challenge for someone trying to accumulate the cash.

Since it nearly always takes a long time to save a lot of money, I often suggest the Weight Watchers® approach. For the skinny folks among you, Weight Watchers is a weight loss program that uses peer support and life style changes to achieve a long term objective. And saving $1,000 dollars is a lot like losing twenty pounds—it is a big task and it takes a while to see the rewards!

You begin the process with peers. Find some workmates or classmates who also lust after some substantial item (that should be easy). Everyone doesn’t have to want the same item or need to save the same amount. A flat screen television and a week in Hawaii are all the same to a savings account. Everyone starts with a 3x5 card that has the date they started and the financial goal they hope to reach.

America Saves Reaches 300,000 Savers

Written by Super User · 11 June 2012

America Saves members commit to save nearly $35,000,000

Washington, D.C. (June 12, 2012) – Today, America Saves, a national social marketing campaign that encourages individuals and families to save money and build personal wealth, announced that 300,000 people have made a personal commitment to save by joining America Saves. America Saves helps individuals and families take charge of their financial future by having individuals set a savings goal and make a plan to save towards that goal. America Saves members have committed to save $34,880,019.08 over the past 12 years. The top five America Saves saver goals during that period are: an emergency fund, education, debt repayment, investment savings, and homeownership.

“Twelve years ago we set out to help people save more successfully. I am thrilled that in that time we have been able to help over a quarter of a million people make a plan to reach their savings goals,” said Nancy Register, national director of America Saves. “From paying down debt to saving for emergencies, we know that people, regardless of income level, have the ability to save.”

The 2012 national survey assessing household saving from America Saves found that having a savings plan with specific goals can have beneficial financial effects, even for lower-income families.  The survey also revealed that two-thirds of Americans (66%) spend less than their income and save the difference, and two-thirds (66%) have sufficient emergency saving to pay for unexpected expenses like car repairs or a doctor's visit.

“While we are encouraged by the number of people who have made a commitment to save to date, we know that there is more to be done to make sure that every person has sufficient emergency savings and a plan to build wealth,” added Register. “And we at America Saves are committed to continue to help people achieve their savings goals.”

New Theme: Saving for a Large Purchase

Written by Super User · 07 June 2012

June 7, 2012

By This email address is being protected from spambots. You need JavaScript enabled to view it., America Saves communications manager

Over the next five weeks, the America Saves blog will feature articles and guest blogs on the topic of saving for a large purchase. America Saves, along with our 52 local campaigns will be featuring information on saving for both short-term and long-term large purchases.

Traditionally when we think about saving for a large purchase we think about saving for a car or a home. But there are other short-term and life event purchases that could also fall into this category. For example, saving for a new computer, a vacation, or a wedding could all fall into the large purchase category.

You can look forward to blog topics from Americas Saves on saving for a car, a home, a ring, and a wedding. And guest blogs on tips for savings for a large purchase, saving for college, and saving for a baby.

If you would like to join the conversation about saving for a large purchase, download our latest resource packet. The resource packet contains:

  • A sample article
  • Social media content
  • Tools and resources

 

Saving for Your Future May Be Easier Than You Think

Written by Super User · 06 June 2012

Treasury Savings Options are Affordable, Safe and Convenient Ways to Reach Your Goals

 

June 6, 2012

Source: U.S. Department of the Treasury

 

Do you dream of enjoying a comfortable retirement? Sending your children to college? Buying a new home? Then you know how important it is to save money regularly to reach your goals.  Fortunately, saving for tomorrow may be easier than you think.

The U.S. Department of the Treasury offers safe savings options that can help you take control of your future. Treasury savings options are:

  • Affordable. You don’t need a lot of money to save. You can buy a digital savings bond online for just $25 and other Treasury securities for $100—and there are no fees.
  • Safe. Treasury savings options protect your original principal. In addition, you can safely buy and manage them online through TreasuryDirect—the Treasury Department’s secure, web-based system.
  • Convenient. You can buy and manage Treasury savings options online, 24/7, at the time most convenient for you—no more waiting in line.

Treasury savings options are paperless, so you don’t need to worry about misplacing or storing them. In addition, all of your digital Treasury savings options are accessible in one convenient online location, where you can view account activity such as recent purchases and current values. Plus, if you have existing paper U.S. Savings Bonds, you can convert them to digital bonds 24/7 online at www.treasurydirect.gov.

Visit the Treasury Department’s Ready.Save.Grow. site – www.treasurydirect.gov/readysavegrow – to decide which of the six Treasury savings options may be right for you. Create your free TreasuryDirect account today and build tomorrow’s savings.

Previous Blogs

Money as you Grow. What should kids know about money?

Written by Super User · 31 May 2012

The following post comes from the Military Saves Blog. Follow them on Facebook and Twitter.

May 31, 2012

By Andia Dinesen, AFC ®
Military Saves Coordinator

Kids and money.  Kids and finance.  Kids and saving. Kids and spending. These are things we should all be talking about with our kids, but when? How?  When to talk to your kids about money and how to talk to them about it can be overwhelming and exhausting.  What should your 3 year-old really know about money?  How about your 12 year-old?  Your 18 year-old?  Now, there’s a big challenge.

Once kids are in elementary school, they learn how much coins are worth, how to count them, adding, subtracting, making change; these are all important skills.  While sitting down and counting money with my 1st grader, I wondered.  She is learning the great skill of counting money; does she actually know where the magical coins in the sandwich baggie come from?  If I would have actually asked, chances are her answer would have been, “they came from your purse, Mommy”.  That is not really the answer, unless I also had a magical money-making purse (which would, of course, be fantastic!)

I have to say when I first saw the Money as You Grow interactive webpage at the President’s Advisory Council on Financial Capability meeting a few months ago, I was instantly interested.  I spent the rest of the meeting leaning over and stretching my neck out to see the screens with the mock-up of the website.  I thought, “Now, this is something I can use.”   Just so you know, I am a financial counselor and I am always talking to my daughters about personal finance, but I often wondered, how much is too much?  What is enough?  What should they really know by ages seven and nine?  I don’t want to spend time trying to shove concepts down their throats that they can’t quite grasp.  How tiresome (and boring), for everyone.

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Tip of the Day

  • Written by Administrator2 | January 7, 2014

    Second saving strategy: Save for emergencies http://ow.ly/sj3vP

Saver Stories View all »

Taking Steps Toward Financial Fitness

Written by Tammy G. Bruzon | November 7, 2014

Nicky Vasquez learned about Virginia Saves when she attended her first class with Bank On Virginia Beach. The instructor shared how important it was to have a written savings goal, and the entire class joined Virginia Saves as the first step toward financial fitness.

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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.

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Jump-Starting a Financial Makeover

Written by Katie Bryan | October 28, 2013

Nichelle Johnson, a single mom with two teenage children, knows what it’s like to stretch a dollar. When she moved back to Virginia Beach in 2008, she provided for her family with just a part-time library position.

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