America Saves Week promotes goals

As part of America Saves Week 2013, scheduled for February 25-March 2, Mid-Minnesota Federal Credit Union (MMFCU) is encouraging its members to participate in a nationwide effort to help people save more successfully and take financial action.

America Saves Week is an opportunity to help people in the community to set a goal, make a plan and save automatically.

The 2012 Annual National Survey Assessing Household Savings revealed that having a savings plan with specific goals can have beneficial financial effects, even for lower-income families.

The survey also found that:

• Only 66 percent of Americans spend less than their income and save the difference.

• Only 66 percent of Americans have sufficient emergency savings to pay for unexpected expenses like car repairs or a doctor’s visit.

• Only 42 percent of Americans say they have a savings plan with specific goals.

• Only 52 percent of non-retired Americans think they are saving enough for a retirement in which they will have a desirable standard of living.

The week is an annual opportunity for MMFCU to promote good savings behavior and a chance for individuals to assess their own saving status.

Learn more about America Saves at mmfcu.org, or visit a local Mid-Minnesota Federal Credit Union branch. The credit union has full-service offices in Alexandria, Baxter, Brainerd, Little Falls, Crosby, Pequot Lakes and Staples, as well as a drive-through branch in Baxter.

Tags: business