Everyone, young and old alike, can benefit from making savings a habit, and Young America Saves can help! Savers who enroll online create their own savings plan by setting a monthly savings goal, as little as $5, and then try to save that amount each month.
Saving money on a regular basis means that you are ready for what the future brings. The money will be there when you need it-- whether it’s for a new outfit, a trip to the movies, or starting a college career. So enroll in Young America Saves, create your savings plan, and start saving today!
Young America Saves offers the following advice to young people beginning to save.
Create a savings plan and goal. Pick something you want to save for -- like your college education or a car -- and an amount that you can realistically save every month. Most young savers choose to save between $5 and $25 dollars a month, but save more if you can.
Keep your savings in a bank account or some other place that is not easy to access. If you keep the money you want to save in your wallet, it’s too easy to spend.
Have a plan for making regular deposits into your savings account or piggybank. If possible, it’s best to make your deposits automatically, by asking your employer to deposit a portion of your paycheck directly into your savings account. Or, set a schedule for yourself and pick one day each week or each month to make a deposit.
Buying a car? Purchasing your first vehicle can feel like your ticket to indepdence, but getting a lousy deal can trap you in a financial hole for years. Educate yourself on smart car buying by viewing our new videos, "Don't Get Played" and "Save Money, Drive Later."
The following links offer more information on earning and saving money.
