National Savings Day sets aside October 12th to recognize those who value the act of saving and to provide simple steps to show getting started isn’t as difficult as it may seem.
Many of us already save every day. We’ve been doing it for a long time. We collect sentimental items because they mean something to us and they evoke emotion. These objects come in all forms. For some, it might be a baseball glove that reminds you of playing catch with your dad. Another person may save an engagement ring passed down through generation. Others save boxes full of t-shirts representing years of concerts.
We save lots of things for extended periods of time, and they accumulate quite well.
Transferring this concept to a portion of our paycheck every month isn’t that far of a stretch. Consider the savings account your junk drawer or the sock basket. Only when a savings account is overflowing, you won’t be so annoyed.
HOW TO OBSERVE #NationalSavingsDay
Open a savings account if you don’t already have one. Save a portion of your paycheck each week. Set it up with your account to be automatically deposited. You’ll never miss it. Before you know it, you’ll have a portion saved up. Setting goals helps, too. Share your tips for saving money. Visit with a savings professional for more ways to save.
Professionals recommend having at least 6 months of living expenses in savings. So think about that much cash a reduce debts like credit cards at the same time. Having those savings is not only a healthy suggestion for you financial stability it will lend a confidence in your emotional wellbeing as well.
Once you’ve started growing your savings, consider safe plans to make your money work even harder for you. We all like to get paid, so why not let your money earn for you too. Explore options like savings accounts that pay interest dividends, cd’s with guarenteed returns. Chances are your bank also has a financial advisor.
Use #NationalSavingsDay to be a part of the conversation on social media.
NATIONAL SAVINGS DAY HISTORY
Capital One founded National Savings Day to empower people to feel more confident about their relationship with money by educating them on how saving money can be a simple, straightforward experience that fits more naturally into their lives and existing behaviors.