Are you a saver or a spender?
Americans are spending too much time doing one, and not enough time doing the other, according to research out this week from the American Savings Education Council.
The 10th annual America Saves Week survey revealed that fewer than two-fifths (38%) of American households report good or excellent progress in meeting their savings needs, with over one-quarter (27%) indicating no progress at all.
Organizers of the annual America Saves Week, which runs Feb. 27 to March 6, suggest trying these five simple steps to help yourself save automatically – and successfully:
1. Assess Your Savings
Like your health, you should assess your savings annually to make sure your savings priorities are on the right track. Complete this simple 12-question assessment to find out your current standing and help you plan for the future.
2. Evaluate your Savings Preparedness
Check off your savings accomplishments on the Saver Checklist to further evaluate where your savings habits need strengthening for your future goals.
3. Take the America Saves Pledge
Those with a savings plan are two times as likely to save for emergencies and retirement than those without one. Join more than 500,000 American Savers who have already committed to save. When you take the pledge, you can choose to receive text message tips and reminders to help you save towards your goals.
4. Share Your Savings Goal
Take part in the 2017 #ImSavingFor photo contest. Share a selfie or video that shows what you’re saving for on Facebook, Twitter, or Instagram. Then check americasaves.org to learn more about contest entry details and prizes. Savings never looked so good.
5. Make Your Savings Social
Are you on Twitter or Facebook? Join America Saves and the American Savings Education Council in encouraging your friends, family, and colleagues to save.
America Saves Week is coordinated by America Saves and the American Savings Education Council. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status.