America Saves Week

[Human Resource Services]

Welcome to America Saves Week (ASW) February 27 - March 3, 2023!

Since 2007, America Saves Week has been an annual celebration as well as a
call to action for everyday Americans to commit to saving successfully.
Through the support of thousands of participating organizations, together
we encourage individuals to do a financial check-in that allows them to get
a clear view of their finances, set savings goals, and create a plan to
achieve them.

ASW provides a great opportunity to remind employees about the savings
vehicles available through SUNY employment, including retirement programs,
the *SUNY 403(b)* <https://www.suny.edu/benefits/vsp/>, the *NYS Deferred
Compensation Plan* <https://www.nysdcp.com/iApp/tcm/nysdcp/index.jsp>, and
Direct Deposit - and Financial Education resources available on the *SUNY
Benefits web page
<https://www.suny.edu/benefits/financial-education--planning-tools/>*.

Day One: Saving Automatically
The most simple and effective way to save is to set up automatic savings.
Whether you're splitting your direct deposit and funneling a portion of
your paycheck into savings, or you set up an automatic transfer through
your financial institution, by utilizing automated savings you are
confidently building a healthy habit of saving.
TIAA has created a short video on Savings Strategies for the Future
<https://www.tiaa.org/public/video/savings-strategies-for-the-future>.

Day Two: Saving for the Unexpected
Having short-term savings is essential to overall financial stability and
boosts your financial confidence.  What's short-term savings?  Having
savings set aside for those unexpected emergencies and opportunities that
arise.  Whether it's needing to have an appliance or car repaired, or the
opportunity to join your friends on a last minute weekend getaway, having
short-term savings on hand allows you to take care of those unexpected
expenses without dipping into funds you need for the present (like bills)
and the future (like retirement).  The Building an Emergency Fund
<https://www.tiaa.org/public/learn/personal-finance-101/building-an-emergency-fund>
web page is a great start.

Day Three: Saving for Major Milestones
How do you save for so many things at once?  One of the most overwhelming
parts of saving for everyday Americans is balancing saving for so many
competing priorities.  Not only do you need to save for short-term
emergencies and opportunities, but also future and long-term goals.  Those
long-term goals include major milestones like education, homeownership, and
retirement.  Explore the Life Milestones
<https://www.tiaa.org/public/learn/life-milestones> page for guidance and
tips around life's big moments.

Day Four: Paying Down Debt is Saving
When you make the decision to pay down or pay off your debt you are
saving!  Some of the benefits of reducing your debt include saving on
interest, late fees, and maintaining or increasing your credit score.  As
you pay off  your debt, you free up cash flow, allowing you to steward
those funds toward saving for something else that's meaningful.  Paying
down your debt and being able to save for what's important to you
contributes greatly toward your financial confidence and stability.  These
short videos on Paying Down Credit Card
<https://www.tiaa.org/public/video/paying-down-credit-card-debt>Debt
<https://www.tiaa.org/public/video/paying-down-credit-card-debt> and Paying
Down Non-Revolving Debt
<https://www.tiaa.org/public/video/paying-down-nonrevolving-debt> include
great strategies for achieving this goal.

Day Five: Saving at Any Age
Saving is a lifelong skill and habit.  You're never too young to start
learning and implementing positive savings behaviors.  You're also never
too old to make positive changes, break cycles, and chart a different path
when it comes to your finances.  Because there are a lot of emotions tied
to finances, creating a positive mindset and relationship with money builds
our financial confidence.  Start or increase your 403(b) or 457 SUNY
Voluntary Savings Plan <https://www.suny.edu/benefits/vsp/> today!

Feel free to reach out to Human Resource Services with any questions at
hrs at plattsburgh.edu.
Have a great week!

*HUMAN RESOURCE SERVICES*
912 Kehoe Building

101 Broad Street
<https://maps.google.com/?q=101+Broad+Street+Plattsburgh,+NY+12901&entry=gmail&source=g>

Plattsburgh, NY 12901
<https://maps.google.com/?q=101+Broad+Street+Plattsburgh,+NY+12901&entry=gmail&source=g>

(o) 518-564-5062

(f) 518-564-5060

*plattsburgh.edu <http://plattsburgh.edu>*





*Human Resource Services webpage - plattsburgh.edu/hr
<http://plattsburgh.edu/hr>*
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