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New Theme: Paying Off High-Cost Debt

Debt
Written by Katie Bryan · 09 July 2012

July 9, 2012

By This email address is being protected from spambots. You need JavaScript enabled to view it., America Saves communications manager

Over the next five weeks, the America Saves blog will feature articles and guest blogs on the topic of paying off high-interest debt. America Saves, along with our 52 local campaigns will be featuring information on how to reduce your debts and where to get help.

Borrowing more money than you can afford is costly in many ways. Americans spend well over $75 billion a year just on credit card interest and fees. That means that families who revolve credit card balances pay an average of $1,500 a year in interest and fees.

Too much debt isn’t just expensive. People with lots of debt often say they lack peace of mind. They worry constantly about paying off debts and making ends meet. The stress of these worries affects their family life, work performance, and other areas of their lives.

If you would like to join the conversation about paying off high-interest debt, download our latest resource packet. The resource packet contains:

  • A sample article
  • Social media content
  • Tools and resources

Download the Resource Packet

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Preparing for Retirement: Gender Differences in Approaches to Money

Written by Super User · 06 July 2012

6 July 2012
By Dylan Tansy
America Saves Intern

Growing up, everyone knew which parent you had to ask for certain things like new clothes or to spend the night at a friend’s house. For me, almost everything was up to my mom unless I wanted something expensive or a “boy thing” like a sling-shot, in which case I would ask my dad. These gender differences obviously vary from family to family, but some level of difference is almost universal. A recent FoxBusiness article discussed an Ameriprise Financial survey that explored these differences of how middle aged men and women differ in their approaches to financial conversations and giving financial help to other family members.

What seemed to be the largest takeaway point is that middle aged, or baby boomer men tend to be more optimistic about their financial futures and retirement than women. Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial, attributed this to the fact that the surveyed men were more likely to have set aside money for retirement, and figured out the amount of money they would need for retirement. Men seem to generally have more of plan when it comes to retirement.Another contributing factor that she pointed out was that men were less likely to have taken time off from the workforce to stay at home with children, or provide care for aging parents. This increased average time in the workforce for men allowed them to save more money in many cases.

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Tip of the Day

  • Written by Guest Blogger | May 5, 2014

    Know how to request a free copy of your #credit report. It’s easy and safe. Just go to www.annualcreditreport.com

Saver Stories View all »

One That Almost Got Away

Written by Super User | November 26, 2010

Brody Lockwood - Like a typical fledgling, I started down the track of financial indebtedness. Nineteen years old and nothing to lose. Credit - who need it? Savings - that was for older people with responsibility. Debt - my parents were in debt ergo it must be OK. When I was eligible for reenlistment, I reenlisted for a multiple of 3 worth $15K. I was happy to pay off my debt, but would I be able to stay out of debt?

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Money on the Side

Written by Super User | November 26, 2010

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

"All I did was sit down and listen to a guy one day who showed me what he was doing" said the colonel as he explained how he became interested in what he calls, "becoming financially free."

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Setting a Goal Leads to Success

Written by Super User | May 24, 2019

Growing up, Marisa’s dad had always talked about saving first, but she said she didn’t really internalize it until much later. “I was drifting along with no plan, carrying a little bit of revolving debt, saving some money here and there, but without a real plan for it.”

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