Money Talk Matters

Posts Tagged ‘America Saves Week’

Today is the last day of America Saves Week – the national campaign and I must say I have had a lot of fun writing about saving money this week. Do you realize that if you can save your money, you can also save your marriage. Savings says that you are thinking long-term and not just about today. Whether that means thinking about an emergency fund, saving for a house or even starting a family, the great thing is that you have begun thinking about and soon will be taking action if you have not already.

America Saves says Start Small and Think BIG! I wholeheartedly agree because you will be able to achieve the small goals and then move up to the big ones. During America Saves Week, I shared how important it was to have a savings goal. I recommended short-term and long-term goals because as you reach the short-term goals it will encourage you to establish even longer goals. There is nothing like feeling a sense of accomplishment. It makes you feel as if you can take on the world. Let me share a secret – you can take on the world and WIN. Does not matter what area of life it is either.

Next I shared some quick ways to save money. It is fine to know information but unless you apply that information it does not mean a thing. One of the ways I mentioned to save money quickly was to brown bag your lunch. Sure people have heard this over and over but unless you do it, you will contine to spend that $6 – $10 for lunch everyday when you could be saving that money. The same applies for the vending machines. Buy your snacks at your local grocery store and get enough variety so that you do not become bored and tempted to spend your money in the vending machine because you do not like what you have.

Saving money can affect many areas of our lives and your vocation. I talked about saving as an entrepreneur. That is when it could literally turn into a game… how many ways can you save money as an entrepreneur. Remember America Saves is there to help you and encourage you as you proceed in your savings plan.  I know that it can be challenging in the beginning to save money but once you start and see that account grows, it will encourage you to save even more.

It’s Day 6 and how has the savings been going? I tell you what it has been fabulous for me because I have taken a look at my business model and made some tweeks. One thing that you should not do is be so stringent in your money plans that you set yourself up for failure and frustration. Flexibility is key and will save you from the stress and headaches if you do not allow yourself some breathing room.

When I looked at the previous business model that I was using, I saw how it was not on point. Therefore money was being spent ineffectively. When it comes to personal, you better believe that my husband and I have talked and established a goal for this year. What we would like to see when it comes to savings personally as well as what is the savings plan for the business.

When there is a husband and wife in the picture, both must agree and work the plan together for the benefit of the marriage and long-term goals. When it comes to savings, it is absolutely acceptable to set short and long-term goals. Because if you set short-term goals and achieve them, this could encourage you to set an even longer-term goal the next time. You will know that you can do it because you accomplished the short term goal already and have that to be your focus.

A short term goal could be 30 days, 60 days or 90 days. Not to long and not to short but realistic so that you can see yourself making progress. Remember, it takes WILLPOWER. There will be times when you are tempted to not put the money away or take the money out of the account – don’t do it UNLESS it is an EXTREME Emergency. Sure that might seem relative however, you know an emergency is not they are having a sale at a department store and you HAVE to HAVE that item.

Enough said on that. You have almost made it through this week. Keep on hanging in there. You are making GREAT strides. Don’t forget to check out my partner, Americasaves.org

Welcome to Money Talk Matters Blog. This week’s THEME is dedicated to blogging on Savings as a Part of America Saves Week, February 21 – 28, 2010.

America Saves Week is individuals will be encouraged and assisted to assess their savings progress and take action to advance this progress.  This encouragement and assistance will be provided by organizations and professionals with an interest in improving the financial security of individuals and families.

As a Personal Finances Expert, Money and Marriage advocate, it is also very important that couples have a savings plan whether you are engaged, newly married or have been married for several years. It is my HONOR to be a partner of Black America Saves and support America Saves Week.  What does that mean for you the reader?

You will receive tips, recommendations, maybe even downloads that focus on different methods of saving. I know that savings can be a fun part of life whether you are a kid, high school student, college student, young adult or even adult. It is all in what you make it. So this week let’s have a lot of fun as we talk about savings, working our savings plan and changing lives.

Savings is not something that should be overlooked regardless of financial situation. However, it should be recognized as a financial means of be prepared for emergencies, way of building wealth, learning how to save money at the lowest amount and watching it build over time and much more.

I remember having a discussion with a Local Pastor several weeks ago and one message we agreed that when it came to investing we were not told about investment at a young age. What a difference it would make if the youth were taught how to invest $5 and watch it become $50. Then invest $50 and it became $500 and so forth and so on.

We are going to have loads of fun this week with creative ways of saving money wherever you are. If you have a recommendation, send it in.