America Saves and Military Saves Week is an annual promotion for good saving behavior. Organized by America Saves and American Savings Education Council, every year, thousands of organizations participate and millions of people are reached through this important initiative.
America Saves motivates and supports both low and middle-income households to increase their savings and reduce their debt. Through behavioral economics and social marketing, America Saves encourages healthy savings plans and goal setting – something that all financial professionals can get behind!
In support of America Saves / Military Saves Week, AFC® professionals and AFCPE® members share some of their top savings tips and what they have planned for this important week focused on savings!
Louis Bromley, AFC®
“Start small, think big, but start.”
Plan for the week: Hosting an event at Quantico on March 2. The event will review the new Blended Retirement System and how it interacts with the Thrift Savings Program. There will be a speaker from the State Corporation Commission from Virginia speak on the different vehicles available for investing and Louis will be asking people to take the Military Saves Pledge. If they do they will receive a token for a free credit report.
Nancy Chapman, AFC®
“Set up allotment on mypay to fund your savings account.”
Plan for the week: On Nancy’s base, there will be a static display table with finance materials in the food court area. She is teaching a class on the thrift savings plan and another on the blended retirement system. Focused on starting the savings habit early, Nancy they are reading a story about needs vs. wants to children at the CDC and talking with teens at the youth center about basic finances – while making duct tape wallets!
Meghan Gardner, AFC®, FFC candidate
“We have automatic cars. We have automatic doors. We even have automatic walkways. Why don’t we automate our savings, too?”
Plan for the week: At Prosperity Connection in Missouri, Megan is facilitating four events that encourage participants to take the Savers Pledge:
- The Cost of Being Unbanked, in partnership with a local organization that provides apartments for homeless veterans. Participants will discuss the overall cost of being unbanked, understand how to avoid fees at financial institutions, and overcome fears and concerns related to applying for an account.
- Home Buying: helping participants understand FHA home loans, learn about downpayment assistance programs, and explore the mortgage process from application to approval.
- Building Wealth & Automatic Savings: a program based on the book “The Automatic Millionaire” by David Bach. Participants gain insight into the importance of paying yourself first, learn strategies for automatic savings and debt reduction, and understand financial and personal net value.
- Credit for Job Seekers: a group class reviewing the impact of credit on job seekers, the components of a credit report, and tips to improve credit.
Regina Harris, AFC®
“Make a plan and stick to it.”
Plan for the week: Regina is hosting two Lunch and Learns – one on Retirement Savings and another on Saving by Retiring Debt.
Nellie Lamers, AFC®
“Start saving now- it doesn’t matter how much, increase the amount as you can.”
Plan for the week: Nellie and the University of Missouri extension are handing out information on saving at their 5 VITA sites – including the importance of saving, determining goals you want to save for and some easy savings plans, the $100/month challenge and saving the amount of the week of the year. They are talking with their tax clients about these handouts.
Kate Mielitz, AFC®
“It’s all about starting. Start small and stick to it.”
Plan for the week: Kate, along with fellow AFCPE member, Elizabeth Kiss, recorded radio segments for America Saves/Kansas Saves Week. Both interviews offer great tips and resources for individuals and families ready to take the first steps to saving.
Barbara O’Neill, AFC®, CFP®
“Challenge yourself to save. Complete a savings challenge.”
Plan for the week: Dr. O’Neill, along with the eXtension Financial Security for All Community of Cooperative Extension is sponsoring a national #ImSavingFor Video Contest from February 1, 2017 through the end of 2017 America Saves Week on March 4, 2017. During this five-week period, Americans of all ages are encouraged to submit a one-minute video about their personal experience with saving money. Information about the eXtension #ImSavingFor contest can be found here.
Megan Scherling, AFC®
“When making a budget, save for your emergency fund and financial goals first, then take care of your ‘needs’, then spend what’s left on discretionary expenses, or wants.”
Plan for the week: Megan and the University of Nebraska-Lincoln Student Money Management Center will be hosting a social media campaign on their Twitter and Facebook pages and their blog.” Follow along: UNLMoneyMgmtCtr
We want to hear from you!
Share your #ASW17 and #MSW2017 plans below or tweet them using #ASW17 & #IamAFCPE.
And follow us all week long on Twitter @AFCPE and www.facebook.com/AFCPE for more great #savingstips!