Ramsey County

Making $ense of Dollars and Cents

February 4, 2008

Saving Opportunity in February

          If you are a “plan-ahead” type of person this is a heads up on a great opportunity happening the end of February. The first America Saves Week is being held the week of February 25-March 4.  America Saves Week is a new initiate of the America Saves program.  America Saves works to focus greater attention on the need and opportunities for personal savings.

          Launched in 2001, America Saves has now spread to more than 50 localities or regions, where about 1,000 organizations participate and also involves dozens of national organizations.

          One of the moat important goals of America Saves Week is to persuade more low and moderate-income Americans to open savings accounts. Nationwide, financial institutions have made commitments to work with potential savers in opening nearly 10,000 new savings accounts.

          Savings experts agree that the most successful savings is automatic saving, that is, regular deposits into a savings account, mutual fund or retirement fund. Americans with emergency savings fund also understand the value of automatic deposits.

          More than half of emergency savers state they “save automatically through regular transfer of funds from checking to emergency savings’ Moreover, despite the lack of availability to many employees, nearly one-third say they “save automatically through direct payroll deposits into emergency savings”.

          Half of emergency savers deposit a portion of their tax refunds, one-third deposit loose change periodically and one-quarter “pay down expensive debt and then deposit the equivalent of monthly debt payments into emergency savings.”

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524 4th Ave NE #5, 2nd Floor Ramsey County Courthouse
Devils Lake  ND  58301
701-662-7027
email - ramsey@ndsuext.nodak.edu