Military Saves Blog
Tips, advice, and the latest news from the savings world.
New Year’s Saving Resolution #2: Save Automatically
January 8, 2013
by Katie Bryan
America Saves Communications Manager
We consistently hear from savers that saving automatically is the easiest way to save. Some savers save all of their change, while others open additional savings accounts at separate financial institutions. Automating your savings will allow you to save regularly without having to think about it. Set it and forget it. Here are four ways you can save automatically in 2013.
January 17, 2013
by Justin Melquist
As you prepare to deploy, there are several things you can do to save money while you are away. Although you are busy with pre-deployment training and mentally preparing yourself and your family for the long absence, taking a small amount of time to get a financial plan together can pay off in a big way.
By Sean Naron
Consumer Federation of America
Administrative and Advocacy Associate
As 2013 begins, make sure to give your finances a checkup and discover if you need to make saving your New Year’s resolution. You may discover that you have debt you need to pay down. The best investment most borrowers can make is to pay off any debt with double-digit interest rates they may have.
January 15, 2013
by Lila Quintiliani, AFC®
Military Saves Assistant Coordinator
Communication & Outreach
During the holiday rush and the excitement of the New Year, it can be easy to simply skim over your bills. But the Better Business Bureau is cautioning that consumers should scrutinize their post-holiday credit card statements carefully for fraudulent charges and other errors. Online shopping was up an estimated 12% this past holiday season, increasing the risk for release of private information and phishing, but consumers at brick and mortar establishments can also become the victims of credit card fraud.
Here are some things you can do to protect yourself:
January 10, 2013
By Rebecca White
FINRA Military Spouse Fellow
I don’t know about you, but when I research savings I find information on everything we should be doing: setting goals, budgeting, putting our savings on auto, cutting back on spending, clipping coupons, etc. Knowing what we should do and actually doing them, though, are two different things. So, which strategies will actually help us save? Here are seven simple ideas for saving. Hopefully one (or more!) will work for you.
1. That’s How Many Hours?
Every time you go to buy something ask yourself: “Is it worth it the hourly rate?” To calculate this rate divide your take home pay by the hours worked in that pay period. If your household has multiple incomes, use the lowest paying one. You want this to be easy math, so if you come up with $9.76, round up to $10.
Then when you’re spending money, use this trick to consider if it is worth the hourly rate you calculated. For instance: A $60 dinner would be 6 hours of work if you had calculated a rate of $10 an hour. Is just one dinner worth 6 hours of work?