eDCU Blog

America Saves Week is going on now, February 27th to March 4th. So now is a great time to figure out what you’re saving for and take the pledge to make it happen! 

You need emergency savings. We know it is hard to get started. This is the real life way to get going. 

Here’s a fact. 61% of Americans do not have $1000 in cash saved. If you’re one of them or if you know one of them, please keep reading because I’m going to make it really easy for you to stop being a statistic. 

I know. You live from pay check to pay check. Sometimes the electric bill is a little late getting paid. No lie – this was me years ago. I didn’t make too much money. I thought I was living within my means but inevitably the paycheck was pretty much spent by the time I got it. Pretty soon I realized I had 3 choices.

1. Make more money. I did. I would pick up extra hours or do some side work on my days off.
2. Spend less. I did. I skipped going out with my co-workers.
3. Set up an automatic plan. I did this too 

OK, maybe you only need to do one of these items. And if you do only one thing it MUST BE AUTOMATIC PAYMENTS! If $2 or $3 or $5 mysteriously disappeared from your checking account balance each day, most of us would not notice it. But the only way that can happen is if you set up an automatic withdrawal from your account to fund your savings. If you have to rely on pulling it out of your wallet and sticking it in a jar it probably won’t happen. If you’re going to rely on logging into your account each week and making a transfer that probably won’t happen either. It needs to be out-of-sight and out-of-mind to make this work. 

Pull out your calculator. If you put $3 a day starting today in your savings at the end of the year that would be about $1100. What do you need to do to put $3 away each day? Think you can only do $1 a day – then do that. Setting yourself up to succeed is just as important as setting up the auto transfer in the first place! 

Money is a stress for most peeps generally because we don’t feel we have enough. Only YOU can decide today is the day to set up a responsible and achievable savings plan. Get logged into your account now and get these transfers set up! You’ll feel better! 

And go to www.americasaves.org and take the pledge with me!