Saving for a Bright Future

Kristin Hendricks, a single mother from Texas, understands the importance of saving money and following a tight budget. She decided to make saving money a priority when she gave birth to her son.

Kristin took the America Saves pledge and made a commitment to save money in January 2018, after reading an America Saves post on Facebook. Since then, Kristin has met and exceeded her original savings goal, and continues saving money each time she gets paid.

Kristin works as a medical receptionist. Each time she gets paid, she sets aside money into a separate savings account for her son, Zaiden.

“I want Zaiden to look back and say, ‘My mom did everything she could to raise me and I have everything I’ve ever needed,’” she said.

Kristin also saves money in her personal savings account.

“You have to know how to budget and focus, especially by putting your needs before your wants,” she said. “Even if you don’t have any money after your needs, at least you have your necessities.”

Kristin always prioritizes the necessities of her family. After setting money aside into their savings accounts, she pays her bills including daycare, rent, a car note and insurance. With what’s left, Kristin is always sure to buy some of the things her son wants.

“I can give him what he wants sometimes,” she said. “But not every time because that would break the budget.”

It’s not easy to say no to her son, but Kristin knows that in the future he’ll understand and appreciate her diligence and commitment to saving money. Kristin’s continued ability to stick to her savings plan has allowed her to save successfully.

“It’s not easy but I’m very proud of myself because of how much I’ve saved this year,” she said. “I want to instill the same values in Zaiden.”

Kristin hopes to teach her son the importance of saving. She plans to save enough money to purchase his first car and pay for his college tuition.

“My son has more money in his savings account than I do,” she said.

Kristin’s goal is to ensure a bright future for her son. He is already doing great in school.

As for Kristin, she hopes to one day begin a career in forensics or accounting.

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Tip of the Day

  • Keep track of your spending. At least once a month, use credit card, checking, and other records to review what you've purchased. Then, ask yourself if it makes sense to reallocate some of this spending to an emergency savings account. http://ow.ly/sj972

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