America Saves Week
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. Typically thousands of organizations participate in the Week, reaching millions of people.
Community Bank is proud to announce that it will again be participating in America Saves Week, which takes place February 22-27, 2016. The goals of America Saves Week are to raise awareness of issues pertaining to savings and to encourage people to begin the process of planning for their financial future. Far too many Americans do not make a plan to save money, and very few actively contribute to their savings on a regular basis. Whatever the reason, it is crucial that people begin saving for their financial future as soon as possible.
Throughout the week Community Bank will be posting information and tips on how to save. Simply follow the Bank on Facebook and Twitter. Information on savings will also be available at both Community Bank locations, and personal bankers will be on hand to discuss ways people can begin preparing for their financial future.
The 2015 Annual National Survey Assessing Household Savings revealed that having a savings plan with specific goals can have beneficial financial effects, especially for lower-income families. The survey also found that:
- Only 66% of Americans spend less than their income and save the difference
- Only 66% of Americans have sufficient emergency savings to pay for unexpected expenses like car repairs or a doctor's visit
- Only 42% of Americans say they have a savings plan with specific goals
- Only 52% of non-retired Americans think they are saving enough for a retirement in which they will have a desirable standard of living
With more societal encouragement and support, more Americans will be persuaded to Set a Goal. Make a Plan. Save Automatically.
To help people save more successfully and encourage more people to save, we'll be posting articles that contain tips and details to help people build wealth, not debt.