Connecticut Saves Week 2015 Announced
The Connecticut Saves Campaign coordinated by UConn Extension encourages families and individuals to save money and build wealth. According to the 2014 Annual National Survey Assessing Household Savings, most Americans are meeting immediate financial needs, but are worse off than several years ago.
- Only about one-third of Americans feel prepared for their long term financial future.
- 68% reported that they are spending less than their income and saving the difference. This is down from 73 percent in 2010.
- Nearly two-thirds of respondents (64%) said that they “have sufficient emergency savings to pay for unexpected expenses like car repairs or a doctor visit.” This is down from 71 percent in 2010.
- 76 percent said that they are reducing their consumer debt, or are consumer debt-free. This figure is down from 79 percent in 2010.
The Connecticut Saves Campaign has planned a variety of special activities for Connecticut Saves Week which takes place February 24 to 28. Connecticut Saves Week is an annual event to increase awareness among individuals and organizations about the need to save money, reduce debt, and build wealth. The primary focus is financial action: Set a Goal. Make a Plan. Save Automatically. Governor Dannel P. Malloy has signed a proclamation calling upon all Connecticut citizens to assess and improve their personal finances by taking positive wealth-building action during Connecticut Saves Week. One simple action individuals can take right away is to take the Connecticut Saves Pledge online and commit to saving regularly for a personal or family goal. Visit www.ConnecticutSaves.org for more information about the campaign and the special events planned.
Connecticut Saves Campaign Partners include: the Connecticut Department of Banking; the Connecticut Department of Labor; The Office of the Connecticut State Treasurer; People’s United Bank; Human Resources Agency of New Britain, Inc.; Naugatuck Head Start, Connecticut State Library; Hartford Job Corps Academy; New Haven Job Corps; New Haven County Extension Resource Council, Inc.; and New Haven Free Public Library. New partners include: Community Renewal Team; Liberty Bank; American Eagle Credit Union; and the Connecticut Association for Human Services. The Bank of America Foundation has provided a mini-grant in support of Connecticut Saves Week 2015.
Background
The mission of UConn Extension is to extend knowledge and research information to the citizens of Connecticut for the purpose of identifying and addressing agricultural, environmental, food and fiber, family living, and community issues. It provides a link between knowledge and its useful application between the results of university-level research and the needs of Connecticut citizens. The University of Connecticut is an equal opportunity employer and program provider.
America Saves is a national campaign involving more than 1,000 non-profit, government, and corporate groups that encourages individuals and families to save money and build personal wealth. Overall management for the campaign is provided by the non-profit Consumer Federation of America (CFA). CFA is comprised of over 270 consumer education, advocacy, and cooperative organizations dedicated to advancing the consumer interest.
For more information, contact: Faye Griffiths-Smith at faye.griffiths-smith@uconn.edu