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America Saves Week - 2/20 - 2/27
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Posted on Sun, Feb 20, 2011
During America Saves Week, individuals will be encouraged to assess their savings progress and take action to advance this progress. Individuals take action to save more effectively and encourage family and friends to do the same.
Use the questions below to assess your savings plan:
1. Do you know your net worth, that is, the dollar amount representing all your assets minus your debts?
2. Do you have a personal spending plan with specific goals and plans for achieving these goals?
3. Do you have credit card or payday loan debt? If so, are you reducing this debt?
4. Do you have sufficient emergency savings to pay for unexpected expenses like car repairs and medical treatment?
5. Do you save for retirement at work through a 401(k) or other contributory plan?
6. Outside of work, do you save automatically through regular preauthorized transfers from a checking account to saving or investment account?
7. Are you building equity in your home or other property?
8. Do you expect to pay off all mortgage loans before retirement?
Start your own financial fitness program that will enable you to live comfortably during your retirement years.
In four short steps
step 1: identify income
step 2: list expenses
step 3: compare income and expenses
step 4: set priorities and make changes
Become an American Saver!
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