Today kicks off the official start of America Saves Week (February 24 to March 1). The goal of America Saves Week, which is coordinated by America Saves and the American Savings Education Council, is to encourage consumers to save as much of their money as they can and to develop sound saving habits.
According to the 2013 Annual National Survey Assessing Household Savings, only roughly half of Americans said they had good savings habits.
Other survey findings:
- 54% of respondents said they have a savings plan with a specific goal.
- 43% said they have a spending plan that allows them to save enough money to achieve the goals of their saving plan.
- 50% of those not retired said they save for retirement at work through a 401(k) or other contributory plan.
- 41% said that outside of work they save automatically through regular preauthorized transfers from checking to savings or investments.
- 49% know their net worth.
America Saves invites you to participate in the week’s activities by signing up for their Savings Pledge. This provides the option to receive savings reminders and tips via email or text.
Want to read more stories about saving? Look out for the April issue of Black Enterprise, where we feature Wealth for Life Principle No. 4: I will save at least 10% of my income.