By: Amy Hannold
24/7 Moms Frugal Living Editor
February 19-26, 2012, is “America Saves Week”, an annual reminder that contrary to cultural encouragement to build debt, we should instead be saving money. Growing personal wealth and financial stability is good for the present and the future, especially in families with children. The America Saves Week campaign has been in place since 2007 to advocate on behalf of America’s consumers
February is a fitting time for America Saves Week because it comes at a time when the effects of common holiday spending hangovers are still a struggle to see past. What we may have resolved in January to change may need resuscitation– and here it is!
Begin by enrolling as an “America Saver” at AmericaSavesWeek.org. You’ll begin receiving a monthly email, which will serve as a great reminder to review your progress. A great list of topics is available for reading now, from previous e-coach newsletters. Resources are available to help you begin creating a “spending map” and become better informed on any area of finances which you may be concerned about.
At AmericaSavesWeek.org, view a one-page list of resources for common financial concerns (located on their “Additional Resources” page).
In brief, here are some tips from AmericaSavesWeek.org and their partner organizations:
Always live below your means. This is a good example to live for your children, so that they are better able to determine “needs” from “wants’.
Americans, on average spend $2,000.00 every year on unexpected expenses. Expenditures most commonly occurred with either a medical or motor-vehicle emergency. Are you prepared? Begin by saving change in a jar (off limits to you until it’s on its way to the bank). Boost that change jar total with a few skipped movie rentals, mochas or other treat.
Visit AmericaSaves.org to read the “Five Strategies for Saving”. You’ll be directed to resources which can best help you. Becoming more intentional with our finances can sound like a whole lot of math to some, but thanks to the internet, we have help via the internet. Interactive tools such as the “Personal Wealth Estimator” are designed to easily give you a “big picture” perspective– they do the math for you. Don’t be afraid of the numbers. The sooner you start, the better off your tomorrows will be.