America Saves Week, February 24-March 1st, is a time to review your finances, decide what you want to save for, and set up a system that will allow you to save automatically. That's why the America Saves Week theme is Set a Goal. Make a Plan. Save Automatically.
Even if you are already saving, it's good to take a look at your goals and decide if you can save more or start a new savings goal. Join thousands of others who are pledging to pay down debt, save money, and take financial action during America Saves Week. Set a savings goal at America Saves website.
Not sure what to save for or what to save for next? Here are the most popular saving goals of those who have pledged to save through America Saves:
- Save for Emergencies - nearly a quarter of savers who have pledged to save have chosen "emergency savings" as their first wealth-building goal.
- Save for Education - Saving for education is the second most popular goal savers select when they pledge to save with America Saves. There are many different things to factor in when saving and paying for college. You can learn more at the America Saves website.
- Pay Down Debt - Getting out of debt is the #3 goal Savers select when they pledge to save. That does not come as a surprise since a 2012 survey found that 45% of families with annual incomes under $50,000 rely on credit cards to pay for basic needs such as rent, utilities, insurance and food.
- Save for a Home - For decades, home ownership has been the main path to wealth for most Americans. Today, home equity - the market value of a home minus the balance on any home loans - represents more than four-fifths of the typical family's wealth.
- Save for Retirement - Retirement savings is a top priority for many Savers. Saving for retirement now will ensure that you have enough money to maintain a comfortable standard of living when you stop or reduce the amount of hours you work.
Set a savings goal, access high-quality educational information from America Saves through their website and newsletter, and even sign-up for text messages with savings tips if you like. Join 350,000 other Americans who are America Savers! Join today at www.AmericaSaves.org.