- 43% of Americans have a savings plan that allows them to save enough money to achieve their goals.
- 49% know their net worth.
- 50% save through a retirement plan at work.
Steps for Starting a Savings Plan
If you have a solid plan for saving, you’ll be more likely to spend less than your income and save more, according to America Saves.
If you’re looking for a guideline to help you get started, America Saves has a great outline on its website for how you can use this week to drive your plan.Monday: Begin saving for emergencies.
Tuesday: Put a plan in place to pay down high-interest debt.
Wednesday: Set savings on auto pilot through direct deposit or an automatic transfer from your checking to savings account. Only about 41% of Americans do this, according to America Saves.
Thursday: Evaluate your retirement savings. If you don’t contribute to a plan, start saving now.
Friday: Begin saving for a large purchase. Don’t rely on credit cards to bridge the gap. Even though you intend to put the money back on your credit card, it’s very easy to forget.
Saturday: Make a pledge to engage in long-term savings.
SOURCE: AmericaSaves.org
Now that you have a guideline, start saving! Also check out @SheiresaNgo for savings tips throughout America Saves Week.