Did you know that this week — February 21-25, 2022 — is America Saves Week? Do you even know what it is? America Saves Week or ASW is a call for Americans to commit to saving. Organizations sign up as partners to promote and facilitate programs that are occurring throughout the week.
This year’s theme is Building Financial Resilience. What an important topic as the price of goods has increased over the past months. Money you had last year, will not go as far today.
For ASW each day will have a theme:
- Save Automatically – Monday
- Save for the Unexpected – Tuesday
- Save for Retirement – Wednesday
- Save by Reducing Debt – Thursday
- Save as a Family – Friday
Visit the website to find out what is being offered on each day.
Now that we have introduced the topic of savings, let’s talk details. You need a starting point and direction when it comes to savings. There are lots of financial tools out there, but I will share the Your Money Your Goals (YMYG) toolkit by the Consumer Financial Protection Bureau. You need to start with a financial assessment and goals. This is like driving a car. You need to know where you are at and where you are trying to go. Along the way you need to track your income, pay your bills, and deal with debt. The toolkit has worksheets on all of these topics.
So now you know about America Saves Week. The next step is to get involved in activities promoted. Then start your own financial journal using the tools in the YMYG toolkit. Along the way if you have questions, find your local Extension Educator that focuses on financial literacy. If you are not sure where to start, just reach out to me.