It might not be on your calendar, but America Saves Week is observed from April 7–11. Are you saving enough? If not, how can you save more?
If you don’t think you’re saving enough, you’re not alone. Just 22% of Americans are completely satisfied with the amount of money they’ve saved, according to a recent Yahoo Finance/Marist Poll survey. And the same survey showed that a third of households couldn’t cover one month’s worth of bills if they lost a job or other source of income.
What’s behind this savings gap? Several factors are involved, including the high cost of housing. But while you can’t control these external forces, you may be able to increase your savings by taking these steps: Create a budget — and stick with it. Following a budget is not everyone’s idea of fun, but it can be of great use in managing your spending, which, in turn, can help you save more. You can find many free budgeting apps that allow you to track your spending and place it into categories. Once you know where your money is going, you may find it easier to cut back in certain areas, such as possibly eliminating streaming services you don’t use much.
