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									     WINTER/SPRING 2011

                              ussell Jackson        no savings to fall back on. “I vowed           Even while on unemployment, Russell

                         R    never consid-
                              ered himself a
                       saver. But losing his
                                                    then to make a change and to no
                                                    longer be financially vulnerable. When
                                                    I was unemployed, I had a lot of free
                                                                                                   was able to set aside enough for a
                                                                                                   $500 emergency fund. Now that he’s
                                                                                                   working again, he is working towards
                       job in 2009, he              time. While browsing online, I found           new financial goals – a larger emer-
                       vowed to no longer           the America Saves website,” he says.           gency fund and funding his retirement.
                       be financially vulner-       By taking advantage of the America             Russell’s biggest tip is to start small,
                       able. “I’d never really      Saves savings tips and resources,              and don’t dismiss yourself as ‘too old’
                       considered setting           Jackson was able to make a savings             to save: “It’s never too late to start sav-
                       aside money,                 plan and start an emergency fund.              ing. Even setting aside a few dollars a
   MARYLAND SAVER      because I always had         America Saves also offers a free online        week can help protect you against the
                       enough to pay my             tool (My Savings Tracker) that allows          unexpected.” ••••
     bills and purchase everything I need-          savers like Russell to track their

     ed. The future never occurred to me,”          progress towards their goal.
     he admits.
                                                    Even on a limited income, like unem-

By taking advantage of the America Saves
savings tips and resources, Jackson was able
                                                    ployment, he found ways to save.
                                                    Russell never realized how everyday
                                                    expenses add up. “Eating my meals at
                                                    home, using coupons when I do shop,
                                                                                                                    Family Wealth
to make a savings plan and start an emergency       and using the public library for books                       TOP SAVINGS GOALS OF 2011
fund.                                               and DVDs have been my biggest                                (1st qtr.)
                                                    money savers. I’m doing the same                             Emergency Fund                            28%
                                                    activities and eating the same food.                         Education                                 15%
     After his company laid off Jackson and         The only difference is that I’m saving                       Retirement                                11%
     30 other workers, he realized he had           money instead of wasting it,” he said.                       Debt Repayment                             9%
                                                                                                                 Investment Savings                         7%
                                                                                                                 Source: Savers who enrolled in America Saves
                                                                                                                 or its affiliated campaigns between January 1 and
                                                                                                                 March 15, 2011.


     Capital One Helping Update Our Look
         America Saves is constantly growing and    tool called “My Savings Tracker” that allows
     evolving. Last year saw the unveiling of       savers to track their progress toward a goal
     new marketing materials, including one-        by making a plan and tracking their

                                                                                                      More    R
     pagers and ways to save on car financing. A    deposits.
     branding team from Capital One worked
     with us pro bono to create a new logo, tag
                                                       We will be making additional
                                                    improvements in 2011. With the help of                ARTEN
                                                                                                        QU O
     line, and style guide. They also provided a
     national marketing strategy, media training,
     and gave financial support through 2010 for
                                                    the Capital One branding team once again,
                                                    we are re-designing the America Saves
                                                    website to improve its functionality and              IeLs Strong
                                                                                                         Mv r LI
     Cooperative Extension educators and
     campaigns to participate in America Saves
                                                    look. and affiliated
                                                    websites will also migrate to a new, more             Sa
     Week. We introduced an online savings          powerful content management system.

                                            w w w. A m e r i c a S a v e s . o r g

           New Bureau Aims to Get You the Info You Need
                 ou will soon have a new ally in the quest for fair                       What does it mean for you?

           Y     and transparent money products: the Consumer
                 Financial Protection Bureau, known as the CFPB,
           or simply “the Bureau.” Created by the financial reform
                                                                                          For one, the Bureau will work to ensure that financial
                                                                                          products – such as mortgages, savings accounts, credit
                                                                                          cards, and loans – are more easily understood, with no
           laws passed in 2010 in response to the economic crisis,
           the Bureau, which opens July 21, is tasked with                                hidden surprises. When it finds abuses, it will have the
           enforcing consumer financial laws and preventing                               power to enforce the law. Its oversight will extend to
           deceptive and abusive practices by those who offer                             both traditional financial institutions and tens of
           financial products.                                                            thousands of “non-bank” companies that offer financial

                                                                                          Secondly, the CFPB will have a Consumer Response
                                                                                          Center where individuals can file complaints and get
                                          Under the leadership of Elizabeth Warren,
                                          the Consumer Financial Protection               answers to a broad range of questions about financial
                                          Bureau’s mission is to ensure consumers         products and services.
                                          get clear, no-nonsense information about
                                          financial products.                             Elizabeth Warren serves as the Bureau’s Assistant to the
                                                                                          President and Special Advisor to the Secretary of the
                                                                                          Treasury. In addition to her reputation as a tough
                                                                                          defender of consumer rights, Warren has written several
                                                                                          bestsellers, including All Your Worth: The Ultimate
                                                                                          Lifetime Money Plan (co-authored with her daughter).

                                                                                          The CFPB contains an Office of Financial Education that
                                                                                          will seek to empower consumers to make more
                                                                                          informed financial decisions, including helping them
                                                                                          develop long-term savings plans. Its Office of Financial

                                                                                          Protection for Older Americans is designed to guard
                                                                                          those 62 and older from scams and deceptive practices,
                                                                                          while offering them counseling on personal financial
        Financial Market                                                                  management, such as savings strategies and long-term

                   facts                         MARCH 2011
                                                                                          care. An Office for Service Members will have staff near
                                                                                          military bases to assist troops and their families with
                                                                                          financial questions and complaints. (The director of that
                                                                                          office, Holly Petraeus, has publicly stated her support for
           Money market account . . . . . . . . . . . . . . . . . . 0.67%
                                                                                          our campaign
           1-year CD . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.03%
           5-year CD . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.71%        The Bureau’s website ( doesn’t
                                                                                          look like your typical government website. It’s written in
           U.S. Savings Bonds                                                             plain English and includes tabs with titles such as
                                                                                          “Protecting You” and “Get Help Now.” It contains videos
           EE Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.60%
                                                                                          that offer practical advice on topics such as “Making
           I Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.74%
                                                                                          Credit Agreements Simpler and Safer” and “Educating
                                                                                          Consumers on Credit Scores.” It also features active
           Mortgage Rates                                                                 Facebook, Twitter, YouTube, and Flkr sites that provide a
           30-year fixed rate mortgage. . . . . . . . . . . . . . . 4.75%                 variety of ways to learn more.
           15-year fixed rate mortgage. . . . . . . . . . . . . . . 3.99%
                                                                                          Once the CFPB opens in July, financial consumers like
           5-year adjustable mortgage . . . . . . . . . . . . . . . 3.37%                 you will have a powerful new friend and resource when
           Source: and, March 21, 2011.              it comes to getting a fair deal. ••••

           2   •    AMERICA SAVES

                                                          w w w. A m e r i c a S a v e s . o r g

    A Quarter Saved… Is a Quarter Earned

             o one knows better than Savers                                                                     Send your savings tips to:
             how to find the extra dollar here                                                Always talk       American Saver, c/o Consumer
             and quarter there that, over
                                                                                              about             Federation of America
    time, add up to substantial savings. Here                                                                   1620 Eye St., NW, Suite 200,
    are a few of their favorite savings tips.                                                 tomorrow          Washington, D.C. 20006.
                                                                                              night’s meal
                                                                                              at the table      If we select your tip for
    Sometimes saving money is as easy as mak-                                                                   publication, we will send you a
    ing a phone call. I thought that I was paying                                             tonight.          check for $25 (the initial
    too much for internet service so I called my                   Creating a game plan allows you to           purchase price of a $50 EE
                                                                                                                Savings Bond) and an application
    provider. They reduced my monthly bill by                      remember to defrost something by             for a $50 EE Savings Bond. We
    $10, no questions asked! I’ve also done this                   placing it in the fridge. It also eradi-     recommend purchasing a
    with my insurance company.                                                                                  savings bond at a local bank or
                                                                   cates the “let’s just get takeout”
    Anya Gugliemotto, Columbus, Ohio                                                                            credit union. Please include
                                                                   excuse, saving you money long-term.          your name, address, and phone
                                                                                                                number so we can contact you.
    Never pay for a credit report. If you need a                   Lynn Flock, Queen Creek, Arizona
    credit report go to
    which is the legitimate free credit report
    website. Other frequently advertised web-                  I made myself more aware of my spending
    sites are an attempt to sell you services.

                                                               habits in order to make myself realize where
    George Tucker, Ft. Lauderdale, Florida                     I'm spending too much money. I used my
                                                               monthly checking account overview to analyze
    Save money by making your home more                        my purchases into specific categories, such as   American Saver is the quarterly
    energy-efficient. Use timers on high-energy                The Necessary: bills, vehicle maintenance,       newsletter of the America
                                                                                                                Saves campaign, a national pro-
    items (as well as lighting so it goes on when              medical expenses, groceries, etc., and even
                                                                                                                gram to encourage and assist
    you need it and off when you don’t). Full                  The Unnecessary: eating out, gifts, clothes,     Americans to save and build
    freezers work more efficiently. If it is half full         entertainment, etc. It made me aware of my       wealth more effectively.
    of food items, fill some empty milk or seal-               weaknesses and created a challenge for myself
                                                                                                                The campaign is coordinated by
    able containers two-thirds full of water and               to make a conscientious effort to lay off        the non-profit Consumer
    stock them in your freezer.                                spending in those problem areas.                 Federation of America (CFA),
                                                                                                                supported by national founda-
    Donna Deuster, Racine, Wisconsin                           Bonnie Dillon, Panama City, Florida
                                                                                                                tions, and advised by dozens of

                                                                                                                non-profit, government, and
                                                                                                                business groups. A generous
                                                                                                                grant from Wachovia Bank sup-
    The fifth annual America Saves Week took place Feb. 20-27, garnering                                        ports the publication and distri-
    endorsements from public officials and extensive media coverage, including:                                 bution of the American Saver.

                                                                                                                Questions about how to start a
    “America Saves Week is a great way to raise awareness about the need                                        local savings campaign in your
    to save and promote greater wealth accumulation.”                                                           area should be directed to:
                                                                                                                Nancy Register, America Saves,
    Sheila Bair, Chairman, Federal Deposit Insurance Corporation
                                                                                                                c/o CFA, 1620 Eye St., NW,
                                                                                                                Suite 200 Washington, D.C.
    “Saving more and paying off debt builds a strong foundation for one’s                                       20006; 202-387-6121 (phone);
    future. As Chairman of the Securities and Exchange Commission, I support                                    202-265-7989 (fax);
    the goals of America Saves Week.”                                                                 

    Mary Shapiro, Chairman, U.S. Securities and Exchange Commission                                             American Saver Editor:
                                                                                                                Barbara Roper “America Saves Week Factoid: There’s $15 Billion in Your Couches”                                 Assistant Editor:
                                                                                                                Christine Lamitina
    MarketWatch: “What’s in Your Wallet? Likely Not Enough”
    Baltimore Sun: “America Saves. Do You?”

                                                                                                                      AMERICA SAVES          •      3

                                                            w w w. A m e r i c a S a v e s . o r g
AMERICA SAVES IS ON                                                                                            NEWS
                                                                                                                        FROM LOCAL

       Across the country, campaigns partici-           New Jersey Saves Week, a seminar entitled             Saves had a presence across the state, part-
   pated in America Saves Week 2011                     “Financial Planning for the New Normal”               nering with BB&T Bank to create “Virginia
   (February 20-27) in a variety of ways:               was presented by Rutgers University                   Saves” accounts and operating piggy bank
        The First State Saves Celebration in            Extension Specialist Barbara O’Neill.                 pageants to engage children with the idea of
   Delaware honored Congressman Mike                                                                          saving. The campaign developed an innova-
                                                              In Florida, Okaloosa Saves’
   Castle, Wells Fargo Vice President Ron                                                                     tive “30-40-30” tax flyer that promotes desig-
                                                        EcoNomic Living Expo attracted 575 atten-
   Dutton, and the Delaware Libraries with                                                                    nating 30% of your refund to paying off
                                                        dees, featuring a piggy bank pageant and
   “Saving Star Awards” for their support of                                                                  debt, 40% for current use, and 30% to jump-
                                                        savings seminars, which received TV, radio,
   financial education efforts. At the event,                                                                 start an emergency fund. Virginia Beach
                                                        print, and online media coverage. The
   financial empowerment got a boost when                                                                     Mayor William Sessoms issued a proclama-
                                                        campaign featured Money Tips for each
   Secretary of State Jeff Bullock announced                                                                  tion for Virginia Saves Week 2011.
                                                        day of the Week and, together with Tampa
   the recipients of more than $500,000                 Bay Saves, conducted two webinars on                       Thirty students in the class
   through the new Financial Literacy                   financial education.                                  “Professionalism in Consumer Affairs” led
   Education Fund, funded through fees                                                                        Virginia Tech Saves Week activities, sign-
   charged to high-interest lenders.                         Pittsburgh Saves hosted a table at the
                                                                                                              ing up 73 new Savers. They held daily
                                                        University of Pittsburgh throughout America
        Kentucky Cooperative Extension                                                                        drawings for prizes and capped off the
                                                        Saves Week, where it signed up students
   Service partnered with the Kentucky Dept.                                                                  Week with a Celebration of Savers, featur-
                                                        and held raffles for new Savers. The
   of Financial Institutions to declare the first                                                             ing free bowling, pool, pizza, grand prizes,
                                                        Financial Education Consortium held work-
   statewide Kentucky Saves Week, marked by                                                                   and the premiere of the student-produced
                                                        shops throughout the Week at which parti-
   a proclamation from Governor Steve                                                                         video, “What’s Your Fantasy?” (available on
                                                        cipants learned about America Saves and
   Beshear and an event at the state capitol.                                                                 YouTube).
                                                        pledged to save.
   65% of counties participated in a youth                                                                         West Virginia Saves applauded
   Piggy Bank design contest, and more than                   Texas Saves coordinated proclamations
                                                                                                              Governor Earl Ray Tomblin’s proclamation
   120 people enrolled as Kentucky Savers.              of Texas Saves Week in the state House of
                                                                                                              of West Virginia Saves Week. The cam-
                                                        Representatives and Senate. The campaign
        New Jersey Saves celebrated with an                                                                   paign held “Roll Your Change Week,” with
                                                        distributed flyers on Savings Tips and
   America Saves Week Financial Health &                                                                      $24,942.39 saved, and will sponsor a draw-
                                                        Resources, and promoted family savings by
   Career Opportunity Fair in Trenton, where                                                                  ing for a $500 savings bond for those who
                                                        funding more than $20,000 in incentives at
   residents were shown how to save with the                                                                  made deposits. Participating financial insti-
                                                        community tax centers encouraging filers to
   Earned Income Tax Credit (EITC) and U.S.                                                                   tutions competed to see which could enroll
                                                        save a portion of their tax refund.
   savings bonds, and free tax preparation was                                                                the most savers, with a total of 323 signed
   provided. As part of statewide activities for              This was the first year that Virginia           up during the Week. ••••

   Note: This is not an exhaustive list of the activities of all America Saves sites, but rather a sampling of activities from several of the local campaigns.
   For a more complete list of America Saves campaigns, be certain to visit our website at

                                                     w w w. A m e r i c a S a v e s . o r g

                                                                                                                                 Washington D.C. 20006
                                                                                                                                 Suite 200
                                                                                                                                 1620 Eye St., NW
      PERMIT NO. 273
      U.S. POSTAGE

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