Do you want to save more money, but haven’t gotten around to it? Having emergency savings can reduce the stress of dealing with life’s hiccups, whether it’s an auto repair or loss of income, or to help avoid going into debt. The Prince George’s CASH (Creating Assets, Savings and Hope) Campaign has launched Prince George’s […]
The Prince George’s CASH (Creating Assets, Savings and Hope) Campaign has launched Prince George’s Saves, a year-long initiative where county residents can make a pledge to save and receive helpful reminders and savings tips via text messages. Prince George’s Saves, a partner in the America Saves campaign, is helping members of the community build wealth through savings and the reduction of debt.
Prince George’s Saves provides tools and tips to help Prince George’s Savers reach their personal financial goals. Residents set their own saving goal, which can be any amount, by going online and completing the pledge form. They will then receive goal-specific text messages. Text messages will come in the form of tips to help find ways money to save, as well as advice and reminders on saving for the person’s specific goal. Standard text messaging rates apply and texts will start about within 2 weeks of signing up. There are approximately 3 texts a month.
$1· The pros and cons of various savings tools (from stashing the cash at home to savings bonds and bank deposit accounts)
$1· The distinction between “spending less” and “saving,” and
$1· The wonders of compound interest.
* Set a savings goal. Create a visual reminder of the goal. This could be a picture to put on your door, or even a piece of paper in your wallet with the savings goal written on it.
* Put money towards your savings goal in the beginning of the month. If you wait until the end, there may not be any money left over.
* If you use a checking account, think about setting up a separate savings account. Set up automatic transfer from your checking into your savings account at the same time each month.
*Create a savings box with your family.
* Instead of getting pizza for dinner one night, put that money in the savings.
*Collect loose change and put in a jar. Watch it grow and at the end of a month, take it and deposit the money into a savings account.