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CT BBB Tip: Why Saving is More Important Now Than Ever Before

 

   
   
CROMWELL, Conn.—As our country continues to recover from the health & financial crisis, there is no better time to stress the importance of saving to ensure long-term financial health. As part of America Saves Week 2021, February 22 – February 26, several local organizations are spreading the message of saving and urging its network to save automatically. 
 
The Connecticut Saves Campaign has planned several events in celebration including a free virtual kick off event designed for everyone from business owners to families and will include an interactive trivia. This free virtual event will be help Monday February 22nd at noon. Residents can register for the event at bit.ly/CTSaves2021
 
A key feature of the savings campaign is the opportunity to take the Connecticut Saves Pledge. It's an opportunity for savers to set a financial goal and to receive information and encouragement to help them make progress toward achieving it. 
 
You can take the pledge by texting “CTSaves” to 877877 or by visiting ConnecticutSaves.org
 
Each day of America Saves Week highlights a unique theme offering fresh opportunities to promote personal savings and reasons why it's important. 
 
Save automatically. Direct a part of your paycheck to go directly into a savings account. You can do this through your HR department at work or by setting up an auto-transfer at your bank or credit union.
 
Save for the unexpected. As our country continues to recover from the health & financial crisis, there are many reasons to ensure that you save for unexpected expenses, both big & small. 
 
Save to retire. You may be contributing to your 401K, TSP, or IRA… but are you saving ENOUGH for retirement? Increasing your retirement contributions by one percent each year can go a long way. 
 
Save by reducing debt. Paying down debt is saving! By reducing debt you’re saving on interest, late fees, & maintaining/increasing your credit score.
 
Save as a family. What better way to strengthen your family’s bond than to save as a family? Let’s make saving a family tradition by setting a yearly goal and making a plan to reach it. It all starts with a conversation!
 
The Connecticut Saves Campaign is primarily coordinated by UConn Extension. Partnering organizations in this effort to promote saving include the Better Business Bureau Serving Connecticut, Chelsea Groton Bank, Connecticut Association for Human Services, Connecticut Department of Banking, Connecticut State Library and Human Resource Agency of New Britain.
 
For more information on the Connecticut Saves Campaign visit www.ConnecticutSaves.org

 

 

 

 

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