How many of you out there know that saving money is just about as simple and easy as the proverbial falling off a log? We’re not sure how well known it is, but next Monday (Feb. 24) is the start of America Saves Week.
America Saves Week, which runs between February 24 and March 1, 2014, is a week wherein various organizations engage the communities they serve to promote consumers making a savings commitment, and then gaining access to ideas, tools, and other resources that help the consumers to reach the goal. In particular, the Week encourages consumers to think about ways to automate saving toward a goal, such as through regular transfers into a savings fund. The FDIC has developed educational resources to help consumers evaluate savings options. Check out their site at http://americasaves.org/ for lots of great ideas.
Did You Know?
♦ Only 54% of Americans say they have a savings plan with specific goals.
♦ Only 43% of Americans say they have a spending plan that allows them to save enough money to achieve the goals of their savings plan.
♦ Only 66% of Americans have sufficient emergency funds for unexpected expenses like car repairs or a doctor’s visit.
♦ The U.S. Treasury says that Americans hold about $15 billion in loose change.
It’s hard to save consistently every week or month to meet some long-term goal. However, if you set small, short-term goals for saving money you will probably find you can do it. You can also earn considerable interest from the savings and feel really good about meeting one of a series of small saving goals. Waldo General is always here to help you meet expenses in an emergency or for a special purpose but we’re also big advocates of doing everything you can to put money into savings. Our installment loans help people save in ways that payday or title loans can’t – generally our cost is less! We will also be launching a new product soon that will make saving money as easy as breathing and the money in the savings account portion will earn 5% APY in an FDIC insured account!!
Stay tuned in the next week for more fun and interesting facts about saving, spending and budgeting brought to you by America Saves Week.