America Saves Week has been a yearly celebration, starting two decades ago. The week acts as a call to action for Americans to commit to saving, whether for a short-term goal or the future. Thousands of organizations across the country offer seminars, incentives, and encouragement, pushing people to begin working towards their savings goals.
History of America Saves Week
The first America Saves campaign was launched in 2001 in Cleveland by the Consumer Federation of America. In the two decades since it began, a vast number of cities and organizations have thrown their support behind the cause with offers such as no-fee savings accounts. The American Savings Education Council coined the "America Saves Week," term, introducing the week as a national week of savings recognition. Now financial institutions across the country offer seminars, workshops, and special savings offers to encourage Americans to get started saving or step up an already established saving routine.2
Focus for 2022 America Saves Week
Each day of America Saves Week focuses on a different aspect of savings. This year the week's themes include:
- Save Automatically
- Save for the Unexpected
- Save to Retire
- Save by Reducing Debt
- Save as a Family
Each daily theme focuses on a different aspect of savings, all of which are designed to better prepare individuals for their future.
Building Financial Resilience
There have been financial setbacks for some Americans during the past couple of years, and that's why this year's America Saves Week is all about building financial resilience. Financial resilience is more than having access to funds. To be financially resilient, have an awareness of your financial landscape, the resources available to you, and how to find opportunities to improve financial wellness.1
Celebrate America Saves Week
Whether you are making a large step in your savings goals or a small one, the focus of America Saves Week is getting started in the proper direction. So, this America Saves Week, consider:
- Attending a savings workshop or seminar.
- Opening a savings account or increasing your contributions to your current one.
- Increasing your 401(k) contributions.
- Inquiring about different savings products.
- Developing a savings plan to strive for your specific financial goals.2
Get ready to start saving this America Saves Week and help prepare yourself for a brighter financial future. Even the smallest step toward your financial goals may help you reach your goals.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.
This article was prepared by WriterAccess.
LPL Tracking: 1-05216739
1Building Financial Resilience, americasavesweek.org, https://americasavesweek.org/
2Social Security Collaborates with America Saves Week, Social Security Administration, https://blog.ssa.gov/social-security-collaborates-with-america-saves-week/