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America Saves Week is your opportunity to do a check-in on your finances over five days, take advantage of tools and resources to help you achieve better financial stability and make a commitment to save successfully. Check this page each day during the week of Feb. 22-26 for daily blog posts, videos and more.

During this year’s event, the EACC is launching its new Financial Wellness Webinar Series with Financial Wellness Counselor Cecelia Boyd. The series kicks off Tuesday, Feb. 23 at 12 p.m. with "Saving for the Unexpected." Click here to register.


FRIDAY, FEB. 26

Friday, Feb. 26 | Save as a Family

Did you learn what you needed to know about money as a child, from your parents, other adult role models, or school? For many Americans, that answer is no.

As we round out America Saves Week, we want you to spend time thinking about how you can instill ways to #ThinkLikeASaver in the young people in your life. After all, savings can be both tangible (like saving in a piggy bank) and intangible (like preserving energy by turning off the lights).


Tools to Help You Save

  • Assess Your Savings Plan: Like your health, you should assess your savings annually to make sure you are saving for all the right things. Complete the assessment to see if you are saving adequately and create a savings plan.
  • Join the #ThinkLikeASaver Facebook Group: hosted by America Saves, to get ongoing support and interact with like-minded people committed to saving effectively.

MONDAY, FEB. 22

Monday, Feb. 22 | Save Automatically

How do you save automatically? The two best ways to save automatically are:

  1. Splitting Your Direct Deposit: Have your employer direct a certain amount from your paycheck each pay period and transfer it to a retirement or savings account (or both). Traditionally, you can set this up using your employer’s direct deposit program. Contact your HR representative for more details, and set this up today. No amount is too small!
  2. Setting Up an Automatic Bank Transfer: At a chosen time, your bank or credit union will transfer a fixed amount from your checking account to a savings or investment account. Talk to your local bank or credit union to set this up.

Having a “set it and forget it” approach to saving increases your success rate. Remember, savings is a HABIT, not a destination. When starting your savings journey, getting into the habit of saving is so important. Start small and THINK BIG. Even if your savings goal is $10 a week until you accumulate your first $500 in your emergency fund, you’ll be better prepared for those pesky unexpected emergencies and can simply pay it with your cash savings!


Tools to Help You Save

TUESDAY, FEB. 23

Tuesday, Feb. 23 | Save for the Unexpected

Day two of America Saves Week has us preparing for something that we should all actually expect: To have an “unexpected” financial emergency. Today, we’ll check in with ourselves to ensure that we are building an emergency fund.

Yesterday we mentioned that saving is a habit, not a destination. The best place to put that into practice is when you are building an emergency fund.

For decades financial gurus have told us that you need to have 3 to 6 months of expenses saved to be financially secure. While the more you can have socked away for a rainy day, the better, for most Americans, saving that amount is overwhelming and scary. But, when you focus on building your habit of saving and start with a small goal of just $500, that seems much more attainable. Then, once you achieve that milestone, you can confidently keep going!

Before you know it, saving has become a lifestyle. You’re saving automatically and building your rainy day fund!


Events


Tools to Help You Save

WEDNESDAY, FEB. 24

Wednesday, Feb. 24 | Save to Retire

Many of us have thought about retirement. You may already be saving for it, which is excellent. But have you thought about how you want to retire? More specifically, have you thought about what it will take to continue to live the lifestyle you have or the lifestyle you want once you retire?

Many Americans have expressed that the pandemic has helped them realize what matters most to them. Family, stability, creating memories, and travel were sentiments that we repeatedly heard when asked what was most meaningful to them.

Being able to have the type of lifestyle you want during retirement — spending quality time with loved ones, traveling, and not being a financial burden on your family, means that you have to prepare today. As you sit down to do a financial check-in within yourself around your retirement today, consider not just IF you’re saving for retirement, but if you’re saving enough for retirement.


Tools to Help You Save

THURSDAY, FEB. 25

Thursday, Feb. 25 | Save by Reducing Debt

Here’s the one take away you need to know as you consider today’s focus, “Save by Reducing Debt”: When you pay down your debt, you’re saving!

By actively reducing your debt, you are saving on interest. When you pay on time, you save on late fees and maintain your credit score — saving money long-term. With so many Americans being affected financially by the pandemic, actively paying down your debt may not be a priority, and that’s okay. Be sure that you talk to your creditors and take advantage of any repayment options or arrangements that allow you to keep your credit score intact and avoid additional interest and late payment fees.


Events


Tools to Help You Save

  • Paying Down Debt Is Saving: Tips, resources and tools to give you a clear view of your finances and decide how to best approach reducing your debt and expenses
  • Saver Checklist Tool: This checklist is made up of characteristics of successful savers, which include debt management. It can serve as a useful starting point for evaluating one's savings preparedness.


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