It’s America Saves Week! Each year we encourage our community to dedicate this week to pause and do a financial check-in, and this year is no different. Join us this week to get a clear view of where your finances are, where you want them to be, and what small steps you can take to put you on a path forward.
We all have unique circumstances, that in many cases make it difficult (or nearly impossible) for many to save at this stage of their lives.
Despite this, we understand that people are still committed to doing the work, taking control of their finances, and becoming more financially stable – in every stage of life.
We kick off Day One of America Saves Week by focusing on the easiest and most effective way to save— AUTOMATICALLY.
Sometimes the smallest things have the greatest impact— like building the habit of saving, even if it’s just a little bit at a time. In fact, saving is a habit, not a destination! Check out this blog post from the America Saves Team, who breaks it all down.
Today, we encourage you to do the following (if you haven’t already):
- Set up automatic savings, either through your employer or through your credit union
- Revisit the amount you contribute, if you have already established automatic savings
- Assess whether you have the best possible account for your savings and consider switching to a high-yield savings account to get the most out of savings
Whether you choose to split your direct deposit or set up an auto-transfer through your credit union, you benefit by automatic savings in two ways: first, by establishing the habit, and second by setting and reaching attainable milestones that will be incredibly useful if & when an unexpected expense arises.
