February 27, 2023 - March 3, 2023
WHAT IS AMERICA SAVES WEEK?
CCPS is a proud participant in America Saves Week, an annual national campaign that encourages individuals and families to check-in on their finances by highlighting several key areas that contribute to financial stability; such as saving automatically, preparing for unexpected expenses, retirement, and reducing debt. America Saves Week is February 27, 2023 - March 3, 2023.
America Saves Week 2023 has one single focus: Building Financial Confidence
Video: Building Financial Confidence
DURING THE WEEK, WE'LL BE FOCUSING ON THE FOLLOWING THEMES:
Day One | Save Automatically
Monday, February 27, 2023
“Saving is a habit, not a destination.” Automatic savings is one way to easily build that habit. On this day we’ll collectively encourage and share the following messages, strategies, and tips:
- Ways to incorporate automatic savings into your money habits.
- How to overcome mindset blocks and negative self-talk to help you confidently save.
- No amount is too small when it comes to saving.
Day Two | Saving For The Unexpected
Tuesday, February 28, 2003
Having short-term savings is essential to overall financial stability and boosts your financial confidence. What are short-term savings? Having savings set aside for those unexpected emergencies and opportunities that arise. On this day we'll elevate the following messages:
- The importance of building a short-term savings account for emergencies and opportunities.
- If you're just starting out with a short-term savings account, set a realistic goal for yourself to build a savings habit.
- Saving is cyclical. While you're building savings, you will have to spend it. You can release any shame around dipping into your savings account when you've set up automatic savings.
Day Three | Saving for Major Milestones
Wednesday, March 1, 2023
How do you save for so many things at once? One of the most overwhelming parts of saving for everyday Americans is balancing saving between so many competing priorities. Not only do you need to save for short-term emergencies and opportunities, but also future and long-term goals. Those long-term goals include milestones like education, homeownership and retirement.
On this day we’ll share strategies and resources that will allow you to plan for those major life milestones in addition to emergencies and present needs, helping you feel more financially confident.
- Determining which milestones you're saving for.
- How to get a clear view of your finances so that you can include saving for major life milestones.
- Why your future self will thank you for saving for something that feels so far away.
Video: Saving for Major Milestones
Blog: Saving for Major Milestones
Podcasts: Saving for Major Life Milestones
Day Four | Paying Down Debt is Saving
Thursday, March 2, 2023
When you make the decision to pay down or pay off your debt you are saving! Some of the benefits of reducing your debt include saving on interest, late fees, and maintaining or increasing your credit score. As you pay off your debt, you free up cash flow, allowing you to steward those funds towards saving for something else that is meaningful. Paying down your debt and being able to save for what's important to you contributes greatly towards your financial confidence and stability.
On this day we’ll elevate the following messages:
- The ways in which paying down your debt is saving.
- The different options and strategies for paying down your debt.
- How to cultivate a positive relationship with credit.
Day Five | Saving At Any Age
Friday, March 3, 2023
Saving is a lifelong skill and habit. You're never too young to start learning and implementing positive savings behaviors. You're also never too old to make positive changes, break cycles, and chart a different path when it comes to your finances.
Because there are a lot of emotions tied to finances, creating a positive mindset and relationship with money builds our financial confidence.
On this day we want to encourage savers to take control of their finances no matter where they are in their journey, along with ways they can ensure the young people in their lives have a good foundation of financial education.
We'll elevate the following messages:
- The tangible and intangible ways to introduce a savings mindset to children and young adults.
- How to release any negative emotions and stories you may be telling yourself about your relationship with money.
- How to jumpstart your new savings journey if you are ready to take control of your finances.