Maine Extension Homemakers

Research on millionaires indicates many grew their wealth over time through regular savings. Want to become wealthy? Follow their example. Save as much as you can and give your savings a raise when your income increases or when household expenses, like child care or a car loan, end. For more savings tips from America Saves […]

Millionaires get a lot of attention with a popular television game show and best-selling books like “The Millionaire Next Door.”  Living below their means is a common characteristic of millionaires. They also follow a “pay yourself first” strategy of regular saving and are goal-oriented. Want to be wealthy? Join America Saves and start saving today: […]

When it comes to saving money, time is as precious a resource as money is.  Even small amounts of money, with compound interest over time, will grow to significant sums over time.  When there’s a will, there’s a way.  Join America Saves and learn how others are reaching their personal savings goals: http://bit.ly/fHbGQy. You can […]

A financial check-up is as important as an annual physical with your doctor.  The Financial Fitness Quiz at www.rce.rutgers.edu/money/ffquiz.asp includes 20 questions about financial practices.  Low scores indicate areas for improvement. Need to set financial goals and save for emergencies and future goals?  Become an American Saver at http://bit.ly/gliVkL. For more information or to comment […]

Want to save money? Set financial goals. Goals provide a purpose for saving. The more specific a goal, the easier it is to determine how much savings is required.  You simply work backwards to break a large goal into small pieces. For example, that $15,000 car in 5 years requires $3,000 in annual savings or […]

Do you have goals or dreams?  A dream is vague like “I want to send my child to a good college.”   A goal is specific with a dollar cost and dates for beginning and ending.  Write down your financial goals. Then tell other people about them so that there are people to hold you accountable. […]

One relatively painless way to save is to automate your savings plan. To do this, simply have your bank or brokerage company take money directly out of your checking account or paycheck and place it into a savings or investment account. For more savings ideas, check out the advice of the America Saves program’s e-wealth […]

Want to save money? Look at your debt. Try to never purchase anything on credit that will be used up before you have paid for it. Food, clothing, and vacations are examples of items that you could be paying for long after they have been consumed.  As you reduce your debt, think savings. Join America […]

Have you ever had $50 in your pocket on Monday and by Wednesday it was gone?  Can you even remember what you spent it on?  If this happens to you, keep a spending log for a month to see where your money is going.  It will help you “find” money to save by uncovering seemingly […]

Financial goal-setting is very much like planning a trip.  You need to know where you want to go, when you want to arrive, how you plan to get there, and how much it will cost. Once you have determined your financial “destination,” savings will get you there. For more information about savings and the America […]