America Saves Week: A Financially Confident You
Many equate financial confidence with financial stability, but while financial stability generally means you are debt free and have money saved to cover emergencies and future expenses, financial confidence goes beyond that. It means you are committed to becoming financially stable and taking control of your finances.
America Saves Week (ASW) is an annual reminder to evaluate personal finances and commit to saving successfully.
Throughout the week, the organization will be focusing on the following themes:
Monday – Saving Automatically
We automate many of our daily tasks, why not do the same with our savings? Whether setting up a separate direct deposit for savings or setting up an automatic transfer through your financial institution, no amount is too small when it comes to saving.
Tuesday – Saving for the Unexpected
It’s a good idea to have an emergency fund for unexpected emergencies, such as a broken furnace or car repairs, or opportunities, like a last-minute getaway. Setting up a short-term savings account will help prevent you from dipping into everyday or long-term savings.
Wednesday – Saving for Major Milestones
An overwhelming part of saving is determining how much to save for several competing priorities. The good news is there are many ways to plan and save in ways that fit into your current situation. ASW offers nine goals to keep in mind when formulating a plan.
Thursday – Paying Down Debt is Saving
When you reduce debt, you can save money on interest and fees, and build your credit score and cash flow.
On this day, ASW will offer some advice on how to create a positive relationship with credit and strategies for paying down debt.
Friday – Saving at Any Age
The final and possibly most important ASW theme is that you are never to young to learn good financial hygiene, and you’re never to hold to make positive changes and break cycles when it comes to your finances.
Financial confidence begins with a positive mindset and relationship with money. ASW will provide tips on how to jumpstart your new savings journey and adopt a positive financial mindset.
Want to learn more? Follow our Facebook page for more ASW tips and strategies throughout the week.
