America Saves Week, which takes place in the last week of February, is an annual event and rallying cry for average Americans to engage in successful saving. This year, it takes place from February 19 to February 23. We urge individuals to complete a financial review, which enables them to gain a clear picture of their resources, set savings objectives, and devise a plan to attain them.
History of America Saves Week
America Saves Week is a product of the Consumer Federation of America (C.F.A.), a pro-consumer non-profit with more than 270 members engaged in advocacy and consumer education to engage consumer interest.
America Saves employs basic social marketing and behavioral economics to convince the average American to consider saving money. This exercise aims to lessen the burden of debt, gather wealth, and form good financial habits.
America Saves implores families and individuals to join the America Saves pledge. This tool is used to create a saving plan which will inspire people to be more responsible. Several corporate organizations, non-profits, and the government collaborate with America Saves at the local, statewide, and national campaigns during America Saves Week and throughout the year.
As in previous years, America Saves Week will be a chance to inspire your community to perform a financial review to obtain a clear understanding of their financial situation. Each day will have a topic centered on one of five essential aspects of financial success. The holiday also considers the socioeconomic challenges that many Americans face when saving.
Organizations and institutions will work together to spread information, ideas, and tools to enable families and individuals to take steps toward financial security. America Saves Week is a celebration that brings together organizations from across the country to work together in their communities to help millions of Americans save wisely. The America Saves pledge provides a framework for savers to set goals and develop a strategy for achieving financial security.
America Saves Week timeline
A national consumer forum known as the Consumer Assembly coins the idea for the C.F.A.
The Consumer Federation of America is established as a non-profit organization.
The C.F.A. Board’s choice for the first Executive Director, Erma Angevine, serves until this year.
America Saves Week is established to encourage saving habits and foster financial stability.
America Saves Week FAQs
What does the 50-30-20 budget rule mean?
This rule is a money management strategy that separates your income into three categories: 50% goes into essentials, 20% is set aside for saving, and 30% is for other needs.
Which country saves the most?
Switzerland saves the most money (about $926 monthly or $1.27 hourly), although their household income is lower than in the U.S.
What makes China’s savings rate high?
The Chinese government does not run huge budget surpluses or deficits, making corporate and household savings the driving force behind their high savings rate.
How to Observe America Saves Week
Create a savings plan
America Saves Week is the perfect opportunity to take a closer look at your finances. Create a saving plan and start your journey towards financial stability.
Encourage others to save
Be an inspiration to others and educate them on the benefits of being financially responsible. Share important information which can help them save more.
Participate on social media
Join the discussion and share posts on social media. Become an advocate/sponsor for America Saves Week and create awareness within your circles.
5 Facts About Money That Will Blow Your Mind
No time to die
Dollar bills have a lifespan of about 18 months before wearing out.
Picture day is canceled
Living presidents cannot have their faces displayed on the currency.
Credit cards were introduced in the United States during the 1920s.
The Chinese were the first to use paper money about 1,000 years ago.
That new money smell
Coins were first minted about 2,500 years ago.
Why America Saves Week is Important
Education and awareness
America Saves Week provides individuals with the tools they need to take control of their lives. The observance was founded to create more awareness and provide valuable information to attain financial security.
It encourages goal setting
Setting goals is a great way to achieve success. By adopting the America Save pledge, we support setting realistic financial goals and making plans to get the desired results.
It gives us focus
This observance emphasizes the power of financial independence. It sheds light on the critical aspects of financial stability through education and outreach.
America Saves Week dates