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

Five Ways You Can Save $100 or More

Written by Katie Bryan · 25 August 2011

Kick Start Your SavingsToday’s challenge is to find $100 to save. We all want to save money. It’s the “how” that causes some confusion. Below are a few ways you might be able to save $100 to put towards high cost debt, an emergency fund, or retirement. So take some time out your schedule today to find $100 to save – it’s worth it. Tell us where you found $100 to save!

Here are five ways that you can save $100 or more in 2011:

Want to Raise More Money?

Written by Guest Blogger · 23 August 2011

By Andrea Pokorny, Executive Editor & Founder of MainstreamMom
Join her on Facebook and Follower her @MainstreamMom

Raising money

Money management and raising children are very similar. Money requires TLC just like the kids. And if you have children, you know they grow in what seems to be like lightening speed (your money can do that too). So if you begin to manage our money with a fraction of the time you spend raising your kids, first off you might be more inclined to take better care of it. Secondly, your little "clams" will stretch further than you think and grow faster than you'd ever expected. If you were to scrutinize your "money parenting", would you find yourself neglectful? Have you deprived and ignored those sweet little clams? Let's face it, money isn't everything. But, managing it well will allow you to spend it when you want, give it when you want and of course it provides financial security. It will give you freedom and peace of mind. That's all. Learning how to manage your money better takes a little education. Paying off your debt, establishing an emergency fund and saving for big expenses or even retirement takes dedication. The good news is, it's all simple math.

Wealth Gap Highlights Importance of Saving for Low-Income Households

Written by Katie Bryan · 22 August 2011

Pew Wealth GapLast week we release a statement on the Pew Research Center’s findings that the median wealth of white households is 20 times that of black households and 19 times that of Hispanic households:

“We are disappointed but not surprised to learn that the economic recession took a far greater toll on the wealth of minorities than whites. The Pew Research Center’s report found that about a third of black and Hispanic households had zero or negative net worth in 2009, compared with only 15 percent of white households. These results only reaffirm that creating a culture of savings in America needs to be a top priority – especially among low-income earners. We need to continue to work diligently to encourage people to save or the wealth gap will only widen.

Savings Tips from Our Readers

Written by Katie Bryan · 18 August 2011

Some of the best, and most innovative, tips we get come from you the reader. That’s why for your weekly dose of motivation to Kick Start Your Savings we are sharing your tips. Whether it’s from our American Saver newsletter, on our Facebook page, or on our Twitter page, you are always willing to share your tips to help each other out. Keep it up! Together we can start small to save big.

Tips from American Saver

Every payday I would get a roll of quarters ($10) and put it in a jar at home. Now it’s a roll of dollars ($25) every payday to put in a jar that I don’t touch. Every other month, I deposit the rolled coins into a side account that is outside of town. That way I’m less tempted to touch it. - Linda Jones, Virginia

Lowering Debt Can Raise Your Credit Score

Debt Credit History Credit Score
Written by Katie Bryan · 17 August 2011

Credit scores affect everything from the interest rates you pay when you borrow money to whether you can rent an apartment or get a job. Obviously then, it is important to know how credit scores work and how high-interest debt can affect your credit score. However, a recent survey by Consumer Federation of America and VantageScore Solutions found that most Americans do not know what a strong score is and do not understand the financial cost of a poor score.

Credit Score Basics

Your credit score is a number lenders use to help them decide how likely it is that they will be repaid on time if they give you a loan or a credit card. This credit score is built on your credit history. The score is based on several factors, including your total debt, the types of accounts you have, the number of late payments you have made, and the age of your accounts.

Having a lower credit score means you will end up paying higher interest rates on all your consumer and mortgage loans. For example, on a $20,000, 60-month auto loan, you can pay up to $5,000 more in interest with a bad score than a good one. A low credit score can also make it harder to rent an apartment, get utility services, and even get a job.

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Tip of the Day

  • Written by Tammy G. Bruzon | January 16, 2017

    Free tax help and free tax preparation are available in person and online. http://bit.ly/2hZ235z @AmericaSaves

Saver Stories View all »

Another Dream Realized

Written by Tammy G. Bruzon | November 7, 2014

Mary Brown was already a disciplined individual when she came to Wisconsin Saves coordinator Wisconsin Women’s Business Initiative Corporation (WWBIC) in last summer. She had successfully completed her bachelor’s degree with the assistance of her husband and son, and was now ready to tackle her next big dream – homeownership.

Read more...

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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Coping with a Lost Job

Written by Katie Bryan | October 28, 2013

Aimee Shaffer worked as a Public Service News Director for radio for years until one day her employer downsized the company, resulting in hundreds of lost jobs, including Aimee’s.

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