Money Management

America Saves

America Saves is a nationwide campaign in which a broad coalition of nonprofit, corporate, and government groups help individuals and families save and build wealth. Through information, advice, and encouragement, we assist those who wish to pay down debt, build an emergency fund, save for a home, save for an education, or save for retirement.

Champaign County Saves begins the celebration with an America Saves Week Kick-off & Financial Education Summit at the new Champaign Public Library at 10 a.m., on Monday, February 24th. At this event, learn more about America Saves Week & "How to “Build Wealth, Not Debt”. Featured events at the Kickoff include Mayoral proclamations and remarks by Representative Naomi Jakobsson, Donna Greene of Busey Wealth Management, and Kristen Zueck of Illinois State Treasurer’s office. The Financial Education Summit will showcase the financial education that is available to consumers in Champaign County. For more information, contact Steve Ayers at 333-7672 or srayers@uiuc.edu.

For more information about Champaign County Saves, follow the links below:

Champaign County Saves Events and Newsletter (PDF)

4-H Piggy Bank Pageant (PDF)

Your Money and Your Life Class Schedule (PDF)

America Saves encourage all Americans, especially the financially vulnerable, to travel down the saving path -- keeping in mind it is difficult to move more than a mile or two at a time. If many Americans start moving down the path, then the whole country will place greater importance on saving. As a result, it will become much easier for everyone to save and build wealth.

Many believe that low- and moderate-income families cannot afford to save and build wealth. Yet, research shows that there are "savers" and "spenders" in all income classes. While those with modest incomes cannot save as much as the affluent, almost all have the ability to build wealth over time. Through contributions to a workplace retirement program, home purchase, and other savings, during their working years most can accumulate six-figure assets. The goal of the campaign is to convince all Americans that they can build wealth and to assist them in doing so.

Who Can Join?

Anyone who agrees to work toward a savings goal such as homeownership, school tuition, retirement, or even debt repayment can join. American Savers set a monthly savings goal of as little as $10, then try to save this amount each month.

Benefits

The following benefits are available to American Savers:

• Information and assistance about saving and building wealth
• A free annual subscription to American Saver, published four times a year
• Free advice over the phone from financial planners

All these benefits cost the individual no money. There only obligations is to develop a specific saving goal, select an account, make a deposit in this account each month (or make a debt payment), and let America Saves know they are working towards their saving goal.

The saver controls the savings account. They open the account. It is in their name. They receive the statements. America Saves advises and encourages.

To join now, click on the dollar sign at the right to go to the America Saves Web site.

America Saves -- How it Started

America Saves began as a collaboration between the Consumer Federation of America Foundation (CFAF) and The Ford Foundation. CFAF is the research and education arm of the Consumer Federation of America, a nonprofit association of nearly 300 pro-consumer groups that, since 1968, has sought to advance the consumer interest through education and advocacy. The Ford Foundation is one of the world's major philanthropic organizations. One of its top priorities is to promote asset development and wealth-building among financially vulnerable individuals and families.

At the national level CFAF developed an America Saves Advisory Committee made up of dozens of government, business, and nonprofit organizations. The government groups include the Federal Reserve Board, the Comptroller of the Currency, the U.S. Securities and Exchange Commission, the U.S. Department of Labor, and the U.S. Department of Agriculture's Cooperative Extension Program. The nonprofit organizations include AARP, Consumers Union (publisher of Consumer Reports), the National Foundation for Credit Counseling, the Urban League, the National Council of La Raza, Junior Achievement, and the American Savings and Education Council.

In brief, America Saves promote saving and wealth-building.

For more information, visit the America Saves Web site.

E-mail: CFEwebsite@uiuc.edu

Consumer and Family Economics
Department of Agricultural and Consumer Economics
University of Illinois Extension
University of Illinois Urbana-Champaign