America Saves Week

Today marks the beginning of America Saves Week sponsored by Take a couple minutes to watch this saving rap video that might even make J.Money jealous!

OK so jealous J.Money isn’t but starting in 2007 launched this annual campaign to raise awareness for the need to save, they want us all to “build wealth no debt.” From their website they share their goals including:

“encouragement and assistance will be provided by organizations and professionals with an interest in improving the financial security of individuals and families.”

For example:

  • Employers encourage and make it easier for employees to participate in savings and retirement programs.
  • Banks and credit unions promote automatic transfers from checking to savings and investments.
  • Mortgage lenders help consumers attain home ownership by saving the down payment on a first mortgage loan.
  • Nonprofits promote savings programs such as individual development accounts.
  • Financial educators discuss savings opportunities such as automatic deposits and the “miracle” of interest compounding.
  • The media report and editorialize about personal savings activities and the activities of the Week.
  • Individuals take action to save more effectively and encourage family and friends to do the same.

Do you have kids? How about friends or family that has been struggling with their money? What are you doing to help them learn to manage their money more efficiently and save more?

While Eliminate The Muda is still a fairly young blog in the scope of the personal finance blogosphere I have already begun receiving words of encouragement and appreciation for providing inspiration and insight to save, invest and improve. The hard work is beginning to pay off a little.

However, the additional focus I have gained through my blogging efforts have also been manifested in my off-line life. There are several co-workers at the office who regularly engage me in discussion of personal finance. They have been suffering through my speeches and lectures on personal responsibility for the past couple of years. For a long time I assumed like most, they were ignoring the impact their immediate decisions would have on their future. But then a few months ago the secret broke. They have been listening, even if it was with reluctance. In particular, I am especially proud of one of them.

As the story goes…

Rob is a sucker for shoes. He was at the shoe store looking a new pair Air Force 1’s (I have no idea what these are!). As he eventually explained it, he was contemplating the purchase of these shoes for $90 when an angle of himself landed on his right shoulder and whispered into his ear how the ladies would love to see him struttin in these shoes. Next a little devil of the LeanLifeCoach was kickin back on his left shoulder simply sayin “you ain’t got to spend no money, no money, no money.” He considered for just a moment both options and thought about all the other pairs of shoes he already had at home. He then gently put the shoes back and walked out of the store.

What I really don’t understand is how I am the devil in this story, but then again I don’t really care if it resulted in the correct decision.

I learned Friday that through some tough decisions, a couple lucky breaks and a nice tax refund, Rob will be paying off the last of his consumer debt in March. Unbeknown to me he had been tracking his debt for months with a spreadsheet I had giving him last year.

Since this is America Saves week, take a moment to consider additional opportunities you may have to save more yourself. Where there is a will there is always a way!

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