Build your summer savings plan

Creating a summer savings plan is manageable with the right objectives in mind and can help alleviate financial stress. Whether you are aiming for short- or long-term goals (or both), a financial coach at our United Way Center for Financial Stability can provide you with tips on everything from paying off your debt to planning a vacation.

For long-term saving, be sure to:

  • Make contributions to an IRA or 401(k)
  • Keep credit cards at under 30% usage
  • Monitor your pay cycle for your credit cards
  • Your money should be working for you. Keep your savings habit intact
  • Have future goals in mind (both short- and long-term) so that you can reach your goals faster

For short-term goals like planning a vacation (under 5-year plan), be sure to:

  • Save as little as $50 a month to reach your goal
  • Consider applying for a travel credit card to capitalize on benefits
  • Find out if your debit card offers travel insurance
  • Have a clear idea of what kind of protections you need and how much a trip will cost
  • Spend purposefully vs. accidentally

For more information or to make an appointment, ask a financial coach at FinancialStability@unitedwaymiami.org.

2019-08-09T15:28:46-05:00 August 8th, 2019|