America Saves Week is a full week dedicated to helping you kickstart your savings by promoting healthy money habits and a commitment to financial wellness. To celebrate, we’ve put together some key resources to help you save smarter — so whether you’re just starting out on your journey to saving successfully, or you’re looking for ways to stay motivated, we’re here to help! Keep reading for some important tips, and make sure to join our webinar on debt reduction tomorrow, 2/25 at 1 P.M. and in Spanish at 5 P.M.
Setting Goals
The first step to any successful savings plan is to have attainable goals. Take a look at your finances. How much do you want to save? How quickly do you want to pay down your debt? There are some simple things you can start doing to work towards these goals, like automating your finances so you’re putting money into your savings and making regular payments on your bills without it even being at the forefront of your mind.
The other question you should ask yourself is, are these goals reasonable for your lifestyle? Remember to always save for the unexpected!
Making a Budget
Making a budget is an easy place to start and a great way to hold yourself accountable. Think about the parts of your life you want to invest in, like retirement! Start by making a retirement plan and asking yourself the right questions like, should you take early retirement?
Paying off Debt
Paying down any debt you have is a form of saving, and you’ll thank yourself for taking action sooner rather than later. Check out these 5 Things Not to Do when working on a debt repayment plan.
Learning
Finances aren’t always straightforward, so it’s important to always keep learning and to make sure your whole family is practicing good money habits. HUECU has some advice on how to save as a family during the recent pandemic: Family Finances During a Pandemic. We also have a whole library of short financial education videos to get you started on a path toward a healthy financial future.
For more, check out our financial wellness resources, and be sure to follow us on social media for more America Saves tips throughout the week!
