Riverside, CA (PRWEB) February 23, 2015
Springboard Nonprofit Consumer Credit Management, Inc. (“Springboard”) is urging individuals and families to assess their saving status this America Saves Week to ensure they are on track to reach their financial goals. America Saves Week, nationally recognized February 23 – 28, 2015, serves as an annual reminder to consumers to both promote good savings behavior and review or create a savings plan. Research indicates that the typical millionaire saves or invests 20 percent of their income versus the average American who saves less than five percent. Springboard encourages consumers to take action this America Saves Week by taking inventory of their financial picture, which includes establishing financial savings goals for items such as a down-payment on a home, retirement or to help pay for children’s college education. Millionaire status can be a reality for more consumers with the road to financial freedom beginning with small, consistent steps. Consumers can start saving by putting aside as little as $ 25 a month and by adding $ 5 or more every three or four months. Over time, the habit of saving consistently will pay big dividends. Springboard’s team of certified financial counselors are available to help consumers jump start their savings plan. Through confidential counseling, consumers are provided with personalized budgets that include a savings plan as well as a long-term financial plan of action. Consumers can request confidential financial counseling by calling 800.449.9818.
Additional action steps consumers should consider during America Saves Week include:
Elect Direct Deposit –Directly depositing a portion of each paycheck directly into a savings account means automatic savings.
Save at Tax Time –Use all or part of any tax refunds to jump start a savings fund or pay down credit card debt rather than purchasing big ticket items like appliances or new technology.
Assess Credit Card Interest: Calculate the amount of interest paid each month on outstanding credit card balances. Set a plan to pay down high balances, reduce the total interest paid, and redirect those amounts to a savings account.
Adhere to the 24 Hour Rule – Do not buy anything expensive on impulse. Instead, wait at least a day to think about it. Also, comparison shopping is important to ensure getting the best value for hard earned dollars.
About Springboard Nonprofit Consumer Credit Management, Inc.
SPRINGBOARD® Nonprofit Consumer Credit Management is a 501(c)(3) nonprofit personal financial education and counseling organization founded in 1974 with the mission of improving the financial well-being of individuals and families. Springboard is a HUD-approved housing counseling agency and a member of the National Foundation for Credit Counseling and Association of Independent Consumer Credit Counseling Agencies. Springboard offers personal financial education and assistance in credit counseling, housing counseling, debt and money management, pre-bankruptcy counseling and debtor education through educational programs and confidential coaching. Springboard is accredited by the Council on Accreditation, signifying the highest standards for agency governance, fiscal integrity, counselor certification and service delivery policies. Counseling is available by telephone nationwide or in-person at office locations in California, Arizona, Nevada, New Mexico, Texas, Massachusetts, South Carolina, Florida and Maryland. For more information on Springboard, please call 800-449-9818 or visit their web site at http://www.Springboard.org.
This article appears courtesy of our friends at Home and Family: Money