AP NEWS

Utahns urged to begin saving

February 28, 2019
Utahns are encouraged to use tools available to begin saving money for future use. Start small, set a goal and make it a habit which will empower individuals and families with stability, opportunity and mobility.

SALT LAKE CITY — Utah State Treasurer David Damschen recently announced that Utah is kicking off a savings-focused year with “Utah Saves Week” and urges Utahns to automate their savings.

Treasurer Damschen chairs the Utah Council on Financial and Economic Education, an organization comprised of more than 50 private and public entities that share a common mission to increase the financial capability of Utahns.

“A primary objective of the Utah Council on Financial and Economic Education is to support programs that empower individuals and families to achieve economic stability, opportunity and upward mobility,” Treasurer Damschen said.

“This serves as a good reminder for Utahns to automate savings, while helping connect them with free information, tools and resources to attain savings goals and navigate an increasingly complex financial world.”

Utah Saves is a tool that helps Utahns hold themselves accountable to savings goals and receive free professional advice from online resources. Utahns are encouraged to pledge to save online at utahsaves.org to receive savings advice tailored specifically to savings goals.

“People can start small with savings goals and habits. People just need to start somewhere,” Utah Saves Coordinator and AAA Fair Credit Foundation Executive Director Martha Wunderli said.

“Some examples of savings goals include saving for a vacation, paying off a debt, purchasing a home and building a retirement nest egg. Creating good savings habits can have life-changing results over the long-term.”