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Tips, advice, and the latest news from the savings world.

5 Ways to Reduce Your Debts

Debt
Written by Guest Blogger · 19 July 2012

July 19, 2012

By Dylan Tansy, America Saves Intern

When people sign up to become savers with America Saves, one of the first things we ask of people is to set a goal and tell us what it is. Having a concrete tangible goal is one of the best ways to maintain motivation, keep perspective, and measure progress. Roughly one in six people that have committed to start saving with America Saves have chosen “paying off consumer debts” as their top financial goal. This is not surprising as approximately 45% of families earning less than $50,000 a year rely on credit for basic needs. While this figure may be disheartening, the truth is that anyone can work toward becoming debt free. Here are five basic pieces of advice that you need to follow if you are serious about taking control of your money:

  1. Stop borrowing – The bottom line is that your debt will never go away if you are always adding to it. There may be times when you have no other choice but to rely on credit, but you should avoid a revolving balance. Compounding interest will increase how much you owe in the long run and keep you in debt longer. You need to either cut up your credit cards, or hide them from yourself.

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Contributing to the TSP: A Few Simple Steps

Retirement TSP
Written by Super User · 18 July 2012

Contributing to the TSP:  A Few Simple Steps

by Miriam Darden Settles, CFP®
Federal Retirement Thrift Investment Board


You’ve heard about the Thrift Savings Plan (TSP), but are you still sitting on the sidelines not contributing?  If so, what are you waiting for?  Don’t miss out on the opportunity to save for your retirement with what is widely regarded as one of the finest retirement savings plans in the world. The sooner you start, the sooner you’ll be able to reap the rewards of participation.

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Tip of the Day

  • Written by Guest Blogger | May 14, 2014

    Pay more than the minimum due on your #credit card & pay off your bill sooner. More tips at http://ow.ly/wOaVh.

Saver Stories View all »

On the Right Track to Build Wealth

Written by Super User | April 16, 2013

My name is Robina Wahl, and I am a military wife and a veteran. Although I am fairly new to the Military Saves Campaign, the message to “Build Wealth, Not Debt” reassured me that my husband and I were on the right track and doing the right things.

I have always been pretty responsible when it comes to saving and living within my means, but I was not prepared for the unpredictable employment lifestyle of being a Reservist and military spouse.

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60 Teens participate in Massachusetts Youth Saves Program

Written by Super User | November 26, 2010

During the months of June & July, 60 teenagers aged 13-19 from Marine, Coast Guard, Army, and Air Force families attended Youth Saves programs across the Commonwealth of Massachusetts to help increase their knowledge of financial literacy.

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A Plan for Success

Written by Super User | April 26, 2012

I’m Staff Sergeant Robert Zuniga and I have been an active duty Air Force medic for eight years. I plan on staying in long enough so that I can retire at 20 years. I have always been interested in personal finance and would like to share how it IS possible for me and my stay-at-home wife and two kids to not only save and invest a ton of money but also have a lot of responsible fun as well on 'low' enlisted pay. You CAN do it too!

First off, we write down our goals and separate wants from needs.

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