America Saves Week 2020 is Here!

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Today is the second day of America Saves Week 2020, #ASW20. Today’s theme is Save With a Plan. Yesterday’s theme was Save Automatically. If you are asking yourself where I got these themes, head on over to the America Saves Week website (americasavesweek.org) and check out all of the cool stuff they have to offer.

Saving money is key to building wealth. Not everyone is on the same path or at the same place with their savings journey. Whether you are just starting your savings journey, or you are an advanced saver looking for additional ways to save, the America Saves Week site has tips to get you going.

For beginners, just getting started can be a challenge. But in the end, you’ll be glad you did. Be sure to use the tools provided from the America Saves Week website to get you going. Don’t worry about the amount you can save in the beginning. Just get started. For example, starting early in your teens or twenties will mean you can save smaller amounts over a longer period of time. If you are late to the savings party and in your fifties, for example, you may have to make tougher decisions, but it’s still not too late to save!

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Intermediate savers have an edge. You are already started on your savings goals and can use this week to review your goals, tweak them, and then adjust your savings path accordingly. Maybe you are on-track so you just need to keep an eye on spending. Maybe you need to up your savings amount by a small percentage, or cut out a service or subscription you no longer need. Just stay vigilant and keep monitoring your progress.

Advanced savers, you can participate as well. If you are an advanced saver, it’s time to review how and where you are saving. Of course, you need to have that cash emergency fund, but don’t keep too much cash in an account not earning interest. Talk with your financial planner and see if there are other ways to save that match your risk tolerance. For example, you may have enough cash and be able to save in CDs, a money market fund, or have access to other accounts that better suit your needs.

You can read my tips on The Importance of an Emergency Fund, and also how to determine how  much to have in an emergency fund. My post, Government Shutdown Highlights Need for Emergency Fund explains in more detail how much to have on hand.

I am providing a link to a free digital toolkit, America Saves Week 2020 Digital Toolkit, that you can access and share with friends and family. If you cannot access the toolkit online, email me and I’ll send you information.

Here are the different daily themes for America Saves Week 2020:

Monday: Save Automatically

Tuesday: Save with a Plan

Wednesday: Save for the Unexpected

Thursday: Save to Retire

Friday: Save by Reducing Debt

Saturday: Save as a Family

As an independent Certified Financial Planner™, I can help you start saving, manage debt, and begin your wealth-building journey.  Contact me and let’s get started on a savings plan! #talktometuesday #education #Hireaplanner #AmericaSaves #AmericaSavesWeek #savings #ASW20