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America Saves Week 2020

Save today for tomorrow.

Since 2007, America Saves Week has been a call to action for Americans to recommit to successful saving. This year, America Saves Week is February 24 to 29 and will feature the following themes.
Monday, February 24 | Save Automatically — Boost your savings success by automating your savings. Here are two easy ways to automatically save a portion of your earnings:
  • Split Deposit. Ask your employer to split your pay between your checking, savings, and retirement accounts.
  • Automatic Bank Transfer. Ask your financial institution to automatically transfer some of your deposited earnings from your checking account into a savings account or retirement account.  
Even small amounts add up. For example, saving $50 per month accumulates to $600 a year and $3,000 after five years.
Finally, there’s the old-fashioned, but effective, way — save your loose change. Coins can literally pile up over time, so take them to your financial institution and make a deposit.
Tuesday, February 25 | Save with a Plan — Savers who plan are more than twice as likely to save successfully. Wherever you are in your savings journey, commit now to a plan and take the America Saves Pledge. Goals are great, but you need a plan.
Goal: I’m going to save $500 for an emergency fund.
Plan: I’m going to save $500 for an emergency fund by saving $20 a week for 25 consecutive weeks.
Wednesday, February 26 | Save for the Unexpected — Whether it’s a plumbing repair, replacing a flat tire, or buying tickets to see your favorite artist, that emergency fund will make the unexpected manageable. If you maintain a savings account with an easily accessible $400, you will have more savings than approximately 60% of Americans.
Thursday, February 27 | Save to Retire — With so many immediate needs and expenses, it’s sometimes tough to think about tomorrow, but even small savings add up over time. And the earlier you start, the better. Saving early will give your money more time to grow.
Friday, February 28 | Save by Reducing Debt — Too much debt to save? Paying down your debt is a way to save — and it’s an excellent place to start! You’ll save on interest and late fees by paying down your debts.
Saturday, February 29 | Save as a Family — Children should be shielded from financial stress, but talking about money matters helps them to understand the benefits of saving. Get them involved early so they know they are an integral part of the family goal. Explain how saving on utilities not only helps save the environment, it also saves money that can be used to take the family to a movie. Choosing to cook simple dinners instead of going to a restaurant saves money that can be used for a special meal while you’re on vacation. Visual lessons have an impact on children, too. Have them save coins in a plastic “bank” so they can see their savings add up. 
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