How to Save this Summer

Hope you're having a wonderful Fourth of July holiday week! With summer comes warm weather and sunny beaches. The turn of the season is also a great chance to give your finances a fresh start. Here are five steps to boost your savings this summer. 

Step 1: Set a goal

What are you saving for this summer? Here are some ideas to get you started:

  • Save during vacation
  • Save for an emergency fund
  • Save for fall school supplies or education
  • Save for a new appliance
  • Save for a car

Step 2: Make a pledge to yourself to save

Deciding what to save for is the easy part but following through with your savings goal is the challenge. 

The America Saves pledge can motivate you to save money and reduce debt by helping you stay focused on your goals. Whether you are saving for a vacation, a big move or school next semester, our pledge can help you.

Here's how it works, once you take the pledge, we keep you motivated with information, advice, tips, and savings reminders to help you reach your goal.

Ready to get started? >> Take the Military Saves pledge and start saving today.

Step 3: Create a budget

Creating a budget is one of the best ways to manage your money. A budget allows you to manage your finances so you can always make your savings deposit, pay your bills and have spending money. You'll never come up short if you stick to your budget each time you get paid. 

There are many different ways to do this, so you’ll want to try a few out and choose the system that works best for you. >> Check out these five simple steps to creating a budget.

Step 4: Save automatically

The easiest and most effective way to save is automatically. This is how millions of employees save for retirement through 401(k)s and other programs at work. It is also how millions of Americans save at their bank or credit union. Not only does it ensure you will be saving every month, but it also puts your cash out of sight and out of mind so you feel less of an urge to spend it. 

>> Learn about saving automatically.

Step 5: Find more money to save

Learn how to cut back on summer spending so you can save some cash and put it in your savings account instead. When you take the Military Saves pledge, we’ll send savings tips and advice straight to you.


Pledge to Save This Summer


 

Tip of the Day

  • Written by Guest Blogger | April 30, 2014

    Check out these 54 Ways to #save on groceries, transportation and more >> http://ow.ly/sfsPP

Saver Stories View all »

One Sailor's Course to Financial Freedom

Written by Super User | November 26, 2010

We all know its not easy to get out of debt once you in over your head. But it can be done with the sound advice and support that the Military Saves program offers. I am a testament to that. I was a recently divorced, single mother. Like many people I had credit card debt, a car loan, bad credit, and a low income job that never seemed to be enough to put food on the table.

Then I decided I'd had enough of living paycheck to paycheck and worrying about money all the time.

Read more...

Airman Succeeds Through Dedication to Building Wealth Not Debt

Written by Super User | October 13, 2011

I came into the Air Force at 23 years old in 1993 with about 12 outstanding bills (hospital bills, car loan, car insurance, school loans, credit cards, etc.). You name it, I had the bill. Thanks to the Family Support Center, Dave Ramsey's Financial Peace University, and many other sources, I now have no outstanding bills.

Read more...

Making Savings a Part of Marriage

Written by Super User | November 26, 2010

Capt. Rob Eckhardt is the first to admit that he hasn’t always been responsible with money. But less than 10 years after a rocky start to saving, Eckhardt reports that he and his wife are free from credit card debt, have a down payment on a home, and are saving regularly for retirement. And, as the Military Saves representative for his Air Force squadron, he’s helping others make similar progress.

Read more...