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America Saves Week

By MPL Staff on Feb 23, 2018 7:03 AM

" "America Saves Week 2018

You can plan your savings and learn valuable tips by visiting America Saves. There you can Take the Pledge to get your savings on track and plan for your family’s future. You can also visit our Personal Finance page for even more print and online resources.

When you have a family, it seems like there is never enough money to go around and saving money frequently gets pushed aside. However, saving money can help stabilize your family’s financial life.

Saving is putting money aside for future use and requires discipline and, at times, denial. Therefore, it’s important to discuss the importance of saving with the whole family. Generally, people save with a goal in mind. Do you have an emergency fund? Do you need a new car? Would you like to take a family vacation?

If you do not have an emergency fund, establishing one should be your first goal. Life happens and you never know when a family member or pet might get sick or have an accident. Having money set aside in case of an emergency helps you avoid building debt if a crisis occurs.

How much money should be in your emergency fund depends on your family size, income, spending habits, and job security. It is recommended, if possible, to have three months of income in your emergency fund. Saving three months of income might seem impossible, but how much you save is less important than how often you save. Small, but consistent savings add up over a period of time.

Once you have your emergency fund established you can start saving for other needs or wants!

-By Sarah M. Ellis, UF/IFAS Extension Citrus County

While saving is very important it is also important to protect your assets. Fraudsters are an increasing threat to not only your wealth, but also to your time. The library is excited to offer a series of identity theft presentations offered by Educators Credit Union. During this America Saves Week we offer the first free event at the Zablocki branch on Monday, February 26 at 6PM. Find out more and register for this event at Protecting Your Identity.

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