America Saves Week is a nationwide celebration encouraging Americans to save successfully from February 28 to March 3, 2023.
Mountain America Credit Union (MACU) is taking part by helping their members achieve their financial dreams, which often requires some savings.
Krystalina Brown, Director of Strategic Communications and Social Media at MACU, says, "We also know the economy has shifted rapidly and we want our community to feel confident that they have the resources they need to navigate financial uncertainty and build a secure future."
Brown says Mountain America is encouraging everyone to take the pledge and save more in 2023.
Studies show that individuals who take a pledge or make a commitment and share it with others are more likely to stick to their plans long-term.
That's why it's a great idea to share your pledge with a friend or family member who can check in with you to see how you're progressing.
Brown gave us tips to do before taking the pledge:
• Be sure to set a savings goal.
• Specifically, you'll want to decide what you're saving for and how much you will need to achieve your goal.
• For example, your goal might be to increase your emergency fund or pay for a large or upcoming expense.
• Next, you'll want to look at your budget and decide how much you can contribute each week or month.
• After you have that information, you're ready to take the pledge.
Once you've created the plan to save, Brown says you will want to determine the best place to put your savings.
Specifically, you'll want to look for accounts offering competitive annual percentage yields to maximize your money's potential.
For example, financial institutions including Mountain America offer a variety of savings vehicles...from Money Market accounts to certificates there are a lot of options to help maximize your savings plan.
Brown says she encourages people to make small, sustainable contributions to their savings and leverage automatic transfers to a savings account.
These two behaviors can help people maintain motivation because the amount doesn't seem overwhelming and they can see their savings grow without having to remember to make transfers.
For more information please visit: macu.com/americasaves.
