Think Like A Saver Podcast

View Details

There are many steps on your savings journey. When building your savings foundation, there’s no amount too small to save. It’s all about building your solid savings habits!

In this week’s episode of Think Like a Saver, we cover:

How to start saving
One of the easiest and most effective ways to start saving
How your goals will become more clear as you continue on your savings journey

—

“People often imagine that they have to be saving a certain amount each month for it to matter - and that’s simply not true!”

We are here to support savers as they start their savings journey and create a lifetime of savings habits. The best way to save is to do it automatically.

To automate your savings, you can do either split deposits or automatic transfers - that way, you can automatically put money into a savings account or opportunity account, and you only have to do this one time!

Remember, there’s no amount too small when it comes to starting your savings. You can always grow the amount you choose to save over time, and having an opportunity fund or savings account is a great first milestone on your savings journey.

Join us as we wrap up this season of the podcast and discuss how much to save at first, how to build your savings over time, and what to do when you reach savings milestones.

—

RESOURCES MENTIONED:

Military Saves Pledge
Take the America Saves Pledge

Be sure to send your questions to save@americasaves.com and we’ll answer them in a future episode!

THIS WEEK’S THINK LIKE A SAVER CHALLENGE:

Look at your bank statements and see if you are being charged for any subscriptions that you may have forgotten about. This is an easy way to slow your spending and find areas that you can save even more!

View Details

When you hear, “Get a clear view of your finances”, what do you picture? Your vision for yourself gives you a baseline for where you are so that you can make a plan for where you want to be financially.

In this week’s episode of Think Like a Saver, we cover:

How to get a clear view of your current financial situation
How to be a good steward of the money left over after your necessary expenses
Empowering you to set goals for wherever you are in life

—

“You’re taking control of your finances. This is a moment you should be proud of, because you’re informed and empowered. You can make the best decisions for yourself!”

The first step in getting a clear view of your finances is to determine your monthly income. You can do this by looking at your pay stubs and bank account statements. When you understand your income, you’ll then be able to look at what is leaving your bank account.

It is important to take a look at what you are earning as well as what you are spending and on what. This will help you see what you are spending money on, and will show you where your opportunities to save are.

Join us in this episode as we talk about what questions to ask yourself when goal planning, and centering around those goals. We cover how to identify the adjustments you can make for yourself, and get real about course-correcting for a better chance of success.

And remember, success is a journey, just like saving!

—

RESOURCES MENTIONED:

Spending & Savings Plan Tool

Be sure to send your questions to save@americasaves.com and we’ll answer them in a future episode!

THIS WEEK’S THINK LIKE A SAVER CHALLENGE:

Check out our Spending & Savings Plan Tool ! Your goal is to get a clear view of your finances, and truly get a picture of where you are. Then, think about what this information means to you, and what you’ll save for next!

View Details

Emotions influence your savings habits.

In this episode, we cover:

How your experiences influence how you feel about personal finance
How to identify your emotions about money, and how to move through those emotions in a healthy way
How to break unhealthy cycles around money so that you can save

—

“Finances are a deeply emotional experience…. By sitting with these emotions, you’ll be able to see where some of your money blocks are and how you get into certain cycles.”

In this episode, we focus on how different life experiences affect the way that we feel about money, and how those feelings influence our saving habits.

Many life experiences contribute to how we feel about money, and as a result how we talk about money. For example, our experiences with our families or employers may dictate how we think we can talk about money.

However, not talking about money can be as hard as talking openly about it.

Join us as we discuss the many facets of emotions that people have when it comes to money and how we can cope with these emotions. When we cope with our emotions, we can consciously move forward in your savings journey.

—

RESOURCES MENTIONED:

The secret shame of middle class Americans
7 Steps to jump start your savings journey
America Saves pledge
Military Saves pledge
Financial coaching and counseling
Saving for an opportunity fund

Be sure to send your questions to save@americasaves.com and we’ll answer them in a future episode!

THIS WEEK’S THINK LIKE A SAVER CHALLENGE:

Take some time to identify what your emotions are around money. Whatever the emotions, make space for them and acknowledge what they’re telling you. Take time to learn from them, and decide which ones to let go as you move forward in your savings journey.

View Details

College tuition is incredibly expensive. As a major life milestone, it can be a tough one to save for — and if you take out student loans, a tough one to pay off.

In this episode, we cover:

How to save for education
Programs that can help you pay for school
How communication can help make saving for college easier

In this episode, we focus on ways to save for you or your child’s education.

Saving for college can seem like a monumental task. However, there are tons of savings and support programs available to alleviate the cost burden, making it a bit easier for your family.

The first step to paying for education is to be empowered with information.

Part of this preparation is learning more about the programs available to families and college-bound students.

Join us as we discuss EOFs (Educational Opportunity Funds), scholarships, completing the FAFSA, and alternative ways to lower the cost of your education like attending community college and joining the military.

RESOURCES MENTIONED:

Town hall on paying for education
Free Application for Federal Student Aid
Student loan simulator

Be sure to send your questions to save@americasaves.com and we’ll answer them in our next episode!

THIS WEEK’S THINK LIKE A SAVER CHALLENGE:

If you are a future college student or have young kids, we challenge you to set a savings goal. Then, start working toward it by planning to save automatically!

View Details

Buying a home is an exciting milestone in your life! Purchasing a home, especially your first home, can feel tricky. That’s why it’s important to make the right decision for you, and have support in your homebuying process.

In this week’s episode of Think Like a Saver, we cover:

The lifecycle of buying your first home
Tips to make your homebuying journey a successful one
How to prepare for your first home purchase

—

“Financial confidence is all about knowing the resources available to you, and taking advantage of them.”

The first step in purchasing a home is making the decision. As an informed and empowered saver, you will weigh the pros and cons of owning a home vs. renting, and have done a ton of research.

Then, you’ll prepare to purchase a home. This step is extremely important as it will help determine what kind of mortgage you are able to get. In the preparation phase, you will begin to build your credit score to at least 580 as well as start saving for your down payment.

The third step is to shopping- for a real estate agent, your new home, your real estate agent, your insurance, and your mortgage! This is the fun part, but it’s also stressful - and incredibly important that you do plenty of research!

In this episode, we talk about how housing counselors can support you during the homebuying process, downpayments and downpayment assistance, and getting the best interest rate.

One resource you may want to use is a housing counselor. A housing counselor meets with individuals to give them specialized and specific expertise that caters to their unique situation. They will help you financially prepare to buy a home, including an action plan to help you make sure you nail every step of the process.

Saving for a down payment may feel like the biggest challenge, especially since most lenders will tell you that you need to put at least 20% of your home’s value down. However, programs like the FHA loan or your state’s home finance agency can help you decrease your down payment.

When shopping for your first home, be sure to shop around for a great mortgage rate as well. If you are having trouble getting a good rate, you may want to spend time improving your credit score so that you don’t spend more than you have to on your mortgage.

—

RESOURCES MENTIONED:

Buying Your First Home Town Hall
HUD Housing Counselors
Where to get your credit score for free
Take the America Saves Pledge

Be sure to send your questions to save@americasaves.com and we’ll answer them in our next episode!

THIS WEEK’S THINK LIKE A SAVER CHALLENGE:

Take the America Saves Pledge! Make a savings commitment to yourself and get a bit of extra accountability by entering your email address here. Then, you’ll set up your automatic deposit to your savings account so that you can put your savings goals on auto-pilot!

View Details

It can be tough to save during times of inflation. As this episode is being recorded, inflation is at its highest point in over 40 years!

In this episode, we cover:

Saving in spite of inflation
How to manage your budget when prices are rising
Savings tips for navigating a period of inflation, no matter where you are in your savings journey

—

“Saving is a habit, not a destination.”

We always want our savers to feel prepared and financially confident as they navigate the impact of rising inflation.

Inflation often means that people have to rethink how they spend and save. When the basic necessities begin to cost more, it can cut into other areas of your budget, sometimes in a significant way.

There are three groups of people saving right now, and each group may need to rethink their savings goals to adapt to inflation. They are:

People who have no savings - These folks are faced with learning how to buckle down and begin saving in a time that it’s really hard to save.
Have some savings - This group is tightening their budget when it isn’t going as far as it used to,and are faced to rethink if they will continue to save, or reallocate their savings to see if they can keep saving at the rate that they were before inflation.
Have strong savings - Although this group also has to spend more due to inflation, they may have money left over to continue saving. These folks may want to consider how and where they are saving.

It can be difficult to begin a habit of saving in a time that is a little more difficult than usual. The best way to start is with a small goal. For example, to save $500. They can take small steps toward this goal every day or week, and can celebrate when they reach that goal. Remember that this goal is the first step in a saving journey, and that if you can accomplish your first saving goal, you can accomplish your next one, too!

Saving might also mean making lifestyle adjustments. For example, instead of a big summer vacation, your family can enjoy local events, which are often free or low-cost, and allow you to get more involved in your community! Check out episode 1 of our podcast for more creative ways to save.

No matter where you are in your savings journey, you can leverage education, resources, and support to take action to increase your financial stability.

THIS WEEK’S THINK LIKE A SAVER CHALLENGE

Take some time this week to explore your city for no or low cost. This might include local activities hosted by your city, or simply taking a walk in your neighborhood or a park.

Share your adventure with us at save@americasaves.com!

—

RESOURCES MENTIONED:

Kia’s mention in the Washington Post
Episode 1: Creative Ways To Save

Be sure to send your questions to save@americasaves.com and we’ll answer them in our next episode!

View Details

We have 5 exciting ways for you to make saving easier! We want to empower you to make decisions now that create positive habits and set you up for success in your financial future.

In this week’s episode of Think Like a Saver, we cover:

How to automate your savings
Mindset shifts to help make saving a habit
How starting with small goals adds up in the future

—

It just takes some simple mindset shifts, tips, and strategies to make saving a little easier. We’ve broken down our favorite five tips to make saving super simple!

Do it automatically - Most employers will allow you to split your direct deposit. You can have a portion of your paycheck that goes directly into savings each time you get paid. If your employer doesn’t do this, you can often automatically transfer an amount from your checking account to your savings account.
Make saving a habit, not a destination - Our relationship with money begins when we’re young, and old habits can be hard to break. However, confronting your money issues head-on can help you recognize your patterns and create new habits. When you make saving a habit rather than a destination, you understand that your success lies in the small decisions, not once you reach a certain goal.
Start small and think big - When first thinking about saving, it can seem overwhelming. There are plenty of big things to save for - retirement, college, and more! To avoid the overwhelm, start small. Make your first goal something manageable, like to save up an emergency fund, or to pay off small debts. After a few months, you’ll be on the path to changing your financial life and will have achieved small goals already!
Avoid lifestyle creep - Lifestyle creep can happen at any time, and is a phenomenon that happens when your standards grow as your income grows. For example, some people start spending more on cars or rent when they get promotions or increase their income. It is important to recognize lifestyle creep and set standards for yourself as you begin to earn more. Instead, you can save your newly earned income for future endeavors!
Reduce your debt - Paying down debt is saving. Debt is an expense, and when you eliminate your debt, you can put that money toward saving or other financial goals. Reducing your debt can also help you increase your credit score, which can get you better rates on future loans or lower security deposits on future apartments.

These 5 tips are ways that you can make saving easier. The best way to save is to not have to think about it by automating your savings. The next best things you can do are to wrap your mind around what you can do right away - which are typically small steps that create good habits and set you up for success.

—

RESOURCES MENTIONED:

What’s your money personality quiz

Be sure to send your questions to save@americasaves.com and we’ll answer them in our next episode!

—

THIS WEEK’S CHALLENGE:

We challenge you to embrace one of the five tips to make saving easier on YOU! Choose the step you feel good about, and share it with us!

Be sure to share your progress with us on social media so we can celebrate with you. You can find us on Facebook, Twitter, and TikTok!

View Details

It is important to save for your major life milestones!

In this week’s episode of Think Like a Saver, we cover:

How to prepare for life’s milestones when money might already be tight
Which milestones you should save for
How to get started saving for each of life’s milestones

—

Life is exciting, and you always have a choice to make when it comes to spending or saving. However, with every choice you make, you may also be choosing to not do something else.

For example, spending a lot on little things now may mean that you won’t be able to save money for life’s milestones later.

Milestones often seem far away, but life comes at you fast. So if buying a home, paying for education, and having a healthy retirement are goals of yours, then saving for them now has to be a priority.

In times of economic hardship, it can be especially difficult to set money aside. What we learn in this episode is that economic downturns will continue to happen - but so will economic expansion.

That’s why it’s especially important to save when times are good - so that you have money to fall back on when you may need it in the future.

When reaching life’s major milestones, you often have the choice to either save in advance, or go into debt when that time comes. Examples are:

College savings - You can either take out student loans or save in advance using a savings vehicle such as a 529 College Savings Plan.

Buying a home - While most people can’t purchase their first home outright, you can save for a down payment. If you do not have enough money for a down payment, you might have to take out an FHA loan to cover the down payment.

Retirement - It is important to take advantage of compound interest by saving for retirement early. You can join your company’s 401k or 403b, start a Roth IRA, or contribute to a SEP IRA. Alternatively, you can work longer and live off of a fixed income such as your Social Security, which typically covers minimal expenses in retirement. If your company offers a match on your retirement plan, you should take full advantage of it.

Ultimately, saving early and saving enough is very important, and should be factored into your monthly budget.

—

RESOURCES MENTIONED:

USA.gov to find first time homebuyer programs
AmericaSaves.Org for more information on saving
7 Steps to jumpstart your savings journey

Be sure to send your questions to save@americasaves.com and we’ll answer them in our next episode!

—

THIS WEEK’S CHALLENGE:

Figure out which of the major milestones is next up for you.

Once you know what your next major milestone is, start planning how to incorporate it into your savings journey. The first step is to get an overview of your finances, then decide how much you can contribute, and how often.

And remember, by listening in and wanting to take control of your finances, you’re already off to a great start!

View Details

Reducing your debt is saving.

In this week’s episode of Think Like a Saver, we cover:

Why everyone is capable of and deserves to be debt free
Different debt payoff techniques and which might be best for you
How to save now to make room for your debt payoff journey

—

“The more debt you have, the less money you have to put toward savings.”

It can be hard to know when to pay down debt and when to focus on the here and now.

When paying down debt, there are a few different strategies. These can be:

Focus on paying down the debt with the highest interest rate first
Focus on paying down debt with the highest balance first
Focus on paying down debt with the lowest balance first (snowball method)

Paying down debt is very empowering. When you make payments toward your debt or pay it in full, it gives you energy and shows you that you really can overcome obstacles. Plus, it helps you increase your credit score and lower your overall stress levels!

However, there are a few things you should know about the debt payoff process:

For some debts, you can face a penalty for paying it off early
Your credit score may decrease when you close a credit account
You may want to have cash on hand rather than putting all your money into your debt payoff plan.

Listen to this episode to learn how to audit your income and expenses so that you can begin your debt payoff journey feeling empowered and excited!

—

RESOURCES MENTIONED:

Youtube playlist for paying down debt
4 Key mindset changes to make when paying off debt
Our first episode can be found here

Be sure to send your questions to save@americasaves.com and we’ll answer them in our next episode!

THIS WEEK’S THINK LIKE A SAVER CHALLENGE:

Take a few moments to evaluate where you are in your debt payoff journey, then celebrate where you are right now.

If you recently decided to start paying off your debt, celebrate this decision. If debt repayment isn’t a priority for you right now, we challenge you to imagine what your financial life would be like if you were prioritizing debt repayment, and assess whether this is something you could begin to tackle. And, if you do not have debt, take time to celebrate the journey you went on to get to this place!

View Details

In this episode of Think Like A Saver Kia and Amanda dig in to:

Why they started their podcast
How YOU can start thinking like a Saver
And give you a TON of resources to help you get started!

—

“We believe an informed saver is an empowered saver. An empowered saver is able to make the best decisions for themselves and their loved ones.”

The core reason we started Think Like A Saver is YOU. We understand that most of the saving advice that you find online just isn’t realistic.

That’s because you are unique, and to be honest, it’s expensive to exist right now!

In this episode, we dig in to how you can begin your savings journey by saving on the life things right now.

We are empowering you with information to start saving, and giving you very human tips to personal finance that many personal finance gurus leave out (like, who the heck can just put away 3-6 months of expenses right now!?).

Specifically, we’ll help you save money on:

Energy at home so you can cut down on your energy bill
Personal transportation so you can see your money at work
Lifestyle creep - that pesky trend that lets you spend more money when you earn more money
And other ways to save money NOW that don’t require upfront costs

When you learn these tips, you become better informed.

When you are informed, you are an empowered saver.

When you are an empowered saver, you can become a successful saver - and being successful has nothing to do with that outdated, boring personal finance advice that we’re all too used to hearing!

Do you know what you want to hear in our next episodes?

Submit your questions to save@americasaves.org with the subject line ‘Podcast Question’, and we might feature your questions on our next episode!

—

RESOURCES MENTIONED:

Spending & Saving Worksheet: :https://americasaves.org/resource-center/insights/6-steps-to-establishing-a-spending-savings-plan/

—

THIS WEEK’S THINK LIKE A SAVER CHALLENGE:

Get creative with what you already have.

Instead of making a purchase, we encourage you to find a way to NOT spend money. This might mean repurposing something in your house rather than purchasing something on Amazon, using those extra ingredients in your pantry, or recycling an old outfit rather than purchasing a new one for an upcoming event!

View Details

America Saves knows that saving is a habit, not a destination. So we're sharing tips, strategies, and tools to help you "Think Like A Saver."

Think Like A Saver Podcast: Recent Episodes

America Saves