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Are You Saving Enough?

February 20th, 2010 at 05:36 pm



Next week, February 21-28, 2010, is America Saves Week.

With a persistently low personal savings rate, inadequate retirement savings and a frequent shortfall in emergency savings, Americans clearly need to "build wealth, not debt."

Although America Saves Week is intended to encourage institutions like employers, banks, credit unions and lenders to promote saving, it also seeks to encourage individuals to take charge of their finances.

When visiting the website, individuals can:

* See the humor in saving by viewing a variety of videos.

* Read or subscribe to monthly e-Wealth messages on a range of timely topics like Retirement Savings in a Bad Economy, Developing a Debt-Free Game Plan and Saving Your Tax Refund.

* Read the inspiring personal stories of ordinary individuals who have overcome a specific financial challenge. You can also submit your own story.

* Test your savings knowledge.

* Assess how you're doing.

America Saves Week is jointly sponsored by America Saves, which is managed by the Consumer Federation of America, and the American Savings Education Council (ASEC), which is managed by the Employee Benefits Research Institute (EBRI).

If you had to submit a story about your greatest savings challenge, past or present, what would it be about?

2 Responses to “Are You Saving Enough?”

  1. NJDebbie Says:

    Thanks Wild Blue Yonder for posting. Even though we have our savings in auto pilot I'm always afraid that we are not saving enough for life's unexpected occurrences. I'm a bit paranoid about it!

  2. SavingBucks Says:

    My greatest savings challenge happened when I divorced. I needed to take a leave from work to go to school full-time for a semester or else I would be 90 before I got my degree! Smile But here I was, newly divorced with a 5 year old son. I had a house with a mortgage as well. So I sat down and figured out my bills for the 4 month period and saved every single dime I could. I did get some child support as well. My goal was $10000 (this was in 1993). Done! I was able to go to college full-time, volunteer at my son's school (he was in K), and even managed to pay $400 extra each month on the mortgage. I also repeated this the following year. The added plus --- I met my DH in one of my classes! It was sure worth it!

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