Most days we’re all about spending money. This week, let’s shake it up and celebrate saving money!
We all know that saving money is important but it can be hard to get started and to grow your savings. America Saves Week, February 22 – 27th, encourages people to save money.
This week, take time to think about what you’d like to save for and how much money you need to reach your goal. Then, go to Champaign County Saves website and set your savings pledge. Research shows that you’re much more likely to reach your goal if you write it down — make a savings pledge now!
Starting to save is more important than the amount you save initially. The important steps to success are:
- set a goal,
- save regularly, and
- make it automatic (such as setting up automatic deductions from your paycheck).
This week anyone who makes a savings pledge at Champaign County Saves will be in a drawing to win gift cards and piggy banks! Winning is a quick way to jumpstart your savings!
Another way is to start by saving pennies a day.
How much do you think you’d save in one year if you put:
- One penny in a piggy bank the first day;
- Two pennies in the bank the second day;
- Three pennies in the bank the third day; and
- Four pennies the next day … and so on?
Believe it or not, you’d have over $667 in one year! Want to try it? Go to University of Illinois Extension’s Unit #13 website to find a handy guide to Pennies Add Up to Big Savings.
Becoming a Champaign County Saver is free and no one will check to see if you make your goal. However, you will receive a quarterly eNewsletter from America Saves with excellent articles about saving money and how to stay on track with your goals.
Champaign County Saves is sponsored by University of Illinois Extension Serving Champaign, Ford, Iroquois, and Vermilion Counties; Bluestem Financial Advisors, LLC; Habitat for Humanity of Champaign County; Health Alliance; United Way of Champaign County; University of Illinois Community Credit Union; and University of Illinois-USFSCO.
For more information about saving money to reach your goals, go to University of Illinois Extension’s Plan Well, Retire Well blog. #CCSaves #ASW2016
