Athens, Ga. – UGA Cooperative Extension is spreading the importance of financial competency as part of America Saves Week Feb. 22-26.
Coordinated by America Saves and the American Savings Education Council, ASW is an annual campaign that provides an opportunity for organizations to promote good savings behavior.
Hundreds of banks, corporations, academic institutions and outreach groups will implement the campaign-wide goals of raising awareness and encouraging financial action.
This year, the campaign is promoting the use of IRS Form 8888 to have a portion of any refund directly deposited into savings.
“The emphasis on developing the savings habit is especially relevant for college students because of the long-term benefit of saving due to the time value of money,” said Michael Rupured, senior public service associate and Extension financial management specialist.
Rupured noted Extension will continue to promote savings and money management throughout the year, including offering an extensive list of resources and helpful tips on a variety of finance-related issues on its website.
The website also includes a consumer “pledge” to help individuals write down a savings goal with continued advice and reminders to help reach that goal.
This knowledge is especially essential to consumers, Rupured said. According to America Saves, less than half of U.S households are making significant savings progress, with a mere 38 percent of those surveyed having no consumer debt.
One America Saves annual report showed that ASW impacted nearly 39 million people last year through collective effort. UGA Extension plans on adding to that number of impacted individuals this year.
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