« Deciphering Food... | Main | The Do Not Call... »
 

Entry bubble America Saves Week

By: Sommer | February 22, 2008 | Category: Money

Washington's head on the quarterHow many of us can say we save enough money for our families to be secure? Whether we’re saving for retirement, to buy a home, an emergency fund, that fun tropical vacation or an incredible pair of shoes, it’s a practice that will serve us all well in the long run. Reducing our levels of personal debt is also a form of saving money, so pay off those credit cards, folks!

You’ve probably heard in the news that in the U.S. the personal saving rate is at an all time low. Despite increasing levels of wealth, Americans still save less than 1% of disposable income. That can all change during America Saves Week, February 24-March 2, if we each commit to set a goal to save or reduce personal debt levels.

America Saves encourages individuals to set a goal to save money or reduce debt and then make a plan to reach it. If you have a local group in your area you can join with other savers to start a savings club or take money management classes. During America Saves Week, you can order a free package of publications about saving and investing from USA.gov’s Money and Taxes page so be sure to check it out.

Good luck saving (or paying off your credit cards)!

| Comments [4] | envelope Email This Entry | Tags: america  credit  debt  money  saves  saving  sommer 

Comments:

We welcome your comments and expect that our conversation will follow the general rules of respectful civil discourse. This is a moderated blog, and we will only post comments from bloggers over 13 years of age that relate to topics on Gov Gab: Your U.S. Government Blog. We will review comments for posting within one business day. You are fully responsible for everything that you submit in your comments, and all posted comments are in the public domain. We do not discriminate against any views, but we reserve the right not to post comments.


I love to read anything about ways to save more money. My husband and I are some of the many Americans that have used credit cards too freely and we are now working our way out of the hole. I really enjoy reading this blog and loved today's post. I wanted to share a relevant site I read about in Reader's Digest and just starting using this month - mint.com. It's free and I love what it does for us. I think it's really going to help us save money and pay off credit cards.

Posted by Haydn on February 22, 2008 at 12:23 PM EST #

Haydn,
Thanks for your comment, I'm glad you enjoyed the post. Utah State University also has a great program called PowerPay (https://powerpay.org/) that offers information to help you pay off your credit cards. It's amazing how much of a difference having a plan can make! That's the only way I got my cards paid off after graduate school.
Have a great weekend!
Sommer

Posted by Sommer on February 22, 2008 at 12:28 PM EST #

Not to plug corporate America, but this is one reason I like Bank of America. They encourage saving with their "Keep the Change" program. It really gives you a little lift when you start seeing the pennies add up. Even if you're in a position to only save pennies, "Every little bit helps," as my Dad says. And when you see those few pennies drop into your account here and there, you start believing, "Hey. I can save more." A wonderful motivator to saving money. I just wish all corporations did this!

Eric Bryant, CEO
Gnosis Arts Multimedia Communications
http://www.gnosisarts.com

Posted by Eric on February 23, 2008 at 03:24 AM EST #

You are so right about this. I, like a lot of other Americans, have found myself in a position where I am just struggling to pay my bills let alone save anything. I am hoping this year I can turn things around and save more. What I don't understand is why congress hasn't done something to limit the 18% compounded twice monthly rates banks are charging. Tony Soprano charges less interest. How is this not usury?

Posted by Citizen Jmaximus on February 23, 2008 at 07:57 AM EST #

Post a Comment:
Comments are closed for this entry.