Welcome to Kansas Saves
This America Saves Week: Set a Goal. Make a Plan. Save Automatically.
by Katie Bryan, America Saves Communication Manager
The theme for America Saves Week 2014 is more than just a theme; it's the essence of a sound approach to savings, designed to help individuals take financial action. Set a Goal. Make a Plan. Save Automatically. Knowing what you want to save for, how to achieve it, and then making the savings process automatic will allow you to reach your savings goal.
Set a Goal
You can save more by having a goal in mind. Visualizing what you want to save for gives your savings a purpose. You may be tempted to withdraw from your savings if it has no purpose. But once you have a goal in place, you know that taking money out of your savings is taking away from that ultimate goal. So what are you saving for? An emergency fund, a home, retirement, a car?
Make a Plan
Once you have your goal in place, make a plan for how you are going to save. To start, cut down on your spending and reduce high-cost debt. Next, keep track of what you spend and make a budget. Once you know where your money is going each month, you can cut down on unneeded spending and save the difference.
Don't forget to keep your savings safe, secure, and growing. Banks, credit unions, and even the government offer a variety of financial products that can you save.
It can be hard to put aside money for savings. But there is an easy way to save money without ever missing it. Once you know how much you can save, make saving automatic. Many employers allow you to divide your paycheck into different accounts through direct deposit. Take advantage by putting part of your pay into a savings account. If you get paid in cash, take a small amount to the bank to deposit into a savings account each week.
Take the Kansas Saves Pledge (or re-pledge) today to set your savings goal and make a plan to save.
America Saves Week is coordinated by America Saves and the American Savings Education Council. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own savings status.
A personal finance expert from a Cooperative Extension land-grant university can provide you with information and resources. Visit their eXtension website today.
Meet a Saver
Aimee Shaffer worked as a Public Service News Director for radio for years until one day her employer downsized, resulting in Aimee losing her job. "I was without a steady income for the first time, said Aimee. With the little unemployment she received, she made sure to pay her bills. While looking for work, she took the time to reflect on her work life. "I didn't want to live paycheck to paycheck anymore."
She decided to open her own business doing what she loved to do−working with animals. Shortly after starting her own business, Aimee's Ford Aspire "expired." Aimee did not have any credit in her own name. Working with the dealership, she was able to lease a car and establish credit. After two years of payments, she was able to qualify for a car loan. Because Aimee wanted to learn about her finances, she took a money course. She discovered that she was on the right track with her finances. "I was so happy to see that all my hard work to earn credit actually paid off." Read her story.
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Promo Support and Resources for Local Saves Campaigns
Local saves campaigns can connect employers, financial institutions, organizations, educators and others to jointly promote and support saving, financial education and local financial issues.
Contact your local K-State Research and Extension agent
To inquire about educational opportunities near you. K-State Research and Extension is an America Saves Campaign partner; supports Kansas Saves resources.
Contact Kansas Saves Coordinator
Email: Elizabeth Kiss