Set a Goal. Make a Plan. Save Automatically.

America Saves Week is February 19 – 26.  The theme for America Saves Week 2012 is more than just a theme; it’s a simple set of instructions to help you save successfully. Set a Goal. Make a Plan. Save Automatically. Knowing what you want to save for, how to achieve it, and then making the savings process automatic will allow you to reach your savings goal.

Set a Goal

You can save more by having a goal in mind. Visualizing what you want to save for gives your savings a purpose. You may be tempted to withdraw from your savings if it has no purpose. But

once you have a goal in place, you know that taking money out of your savings is taking away from that ultimate goal. So what are you saving for? An emergency fund, a home, retirement, a car?

Make a Plan

Once you have your goal in place, make a plan of how you are going to save. To start, cut down on your spending and reduce high-cost debt. Next, keep track of what you spend and make a budget. Once you know where your money is going each month, you can cut down on unneeded spending and save the difference.

Don’t forget to keep your savings safe, secure, and growing. Banks, credit unions, and even the government offer a variety of financial products that can help you save.

Save Automatically

It can be hard to put aside money for savings. But there is an easy way to save money without ever missing it. Once you know how much you can save, make saving automatic. Many employers allow you to divide your paycheck into different accounts through direct deposit. Take advantage by putting part of your pay into a savings account. If you get paid in cash, take a small amount to the bank or credit union to deposit into a savings account each week.

Join America Saves to get tips and advice year round.