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America Saves Week is an annual event that encourages you to check-in on your finances and make a commitment to save successfully. This year, the focus is on building financial resilience, with a week of resources and events to help families recovering from the economic effects of the pandemic. Check this page each day during the week of February 21-25 for daily blog posts, videos and more.

Register for Saving for the Unexpected with Gina Cannady of Legacy Credit Union, and learn tips to save during unexpected times. This America Saves Week at UAB webinar is Tuesday, February 22 at noon.

  • FRIDAY, FEB. 25

    Save as a Family

    Together, we have spent the last several days learning tools to assist with becoming financial resilient. Today, we will focus on creating a financial stable economy to ensure the young people in our lives have the personal finance tools needed. Use the tools provided to spend time thinking about how you can instill ways to #ThinkLikeASaver in the young people in your life.

    Tools to Help You Save

    Videos

  • MONDAY, FEB. 21

    Save Automatically

    “Saving is a habit, not a destination.” This is a core belief of America Saves. How do you make saving a habit? Save automatically using the following tips:

    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 an “out of sight, out of mind” approach increases your success rate. Unlink your savings accounts from your virtual accounts & refrain from checking balances regularly.

    Events

    Tools to Help You Save

    Videos

  • TUESDAY, FEB. 22

    Save for the Unexpected

    If the pandemic taught us anything, it was to expect the unexpected. With that in mind, we should be preparing/prepared for an “unexpected” financial emergency. Today, we will focus on evaluating ourselves to ensure we are building an “emergency fund”.

    Studies have recommended that you need 3 to 6 months of income saved to be financially secure. However, the more you have saved for a rainy day-the better. For many Americans, saving is overwhelming and a little scary, but it doesn’t have to be! The key is start with a small goal (something easily attainable). Then once achieved, increase your goal.

    Events

    Tools to Help You Save

  • WEDNESDAY, FEB. 23

    Save to Retire

    Competing financial priorities of the present, may make it difficult to save for the future. However, retirement should be a present priority for us all. Today, sit down and complete a personal financial check-in, consider the following:

    1. Know your retirement needs: 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? Experts estimate that you will need at least 70% of your pre-retirement income to maintain your standard of living.
    2. Begin by Saving NOW: It’s never too early or too late to start saving for retirement.
    3. Contribute to your employer’s retirement savings plan.
    4. Consider basic investment principles.
    5. Don’t touch your retirement savings: Withdrawing your retirement savings may come with lost principle, interest and penalties.

    Tools to Help You Save

  • THURSDAY, FEB. 24

    Save by Reducing Debt

    One of the most important parts of building financial resilience is reducing the amount of debt you are carrying. By actively reducing your debt, you are saving on interest & increase your disposable income. When you pay on time, you save on late fees and maintain your credit score (saves money long term).

    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


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