America Saves Week 2010

This week is America Saves Week 2010, the week is

an effort aimed at reaching institutions and individuals and increasing awareness on the need to save money, reduce debt, and build wealth. This includes a focus on getting individuals to commit to take financial action–instituting steps to save, invest and build wealth.

More than 1,000 organizations and institutions participate in America Saves Week, including the Department of Defense, the Federal Reserve, non-profits like the United Way. 

Among other things, the week provides an opportunity for individuals to take a look at the state of their savings and their savings behavior and to work toward improving both. America Saves Week can help by providing items like this quiz, to test your knowledge about savings, as well as other tools to help guide people toward greater levels of saving and economic stability.

America Saves Week started at a time when the national personal savings rate was close to 0%. While the personal savings rate has risen steadily through the last year, as Americans have focused on paying down debts and reducing the consumption of non-essential items, we believe that this increase is not sustainable in the long-term without greater education, focus and policy innovation to support the idea of saving for the long-term.

So, if you’re an individual, take the time this week to examine what you have saved, and how you go about saving money for the future. Chances are you might be able to automate that process and save yourself both time and greater amounts of money. If you represent an organization, let other people know about America Saves Week and the importance of taking time to evaluate your personal financial situation.  Too many people pass up on the opportunity to save for their retirement, and building awareness by participating in America Saves Week can help to connect people with the benefits of saving for their future–whether it’s savings for college, homeownership, or retirement.