February 23, 2017 – America Saves Week runs February 27 to March 4. To get the local community more actively involved in improving their own savings and financial futures, NBT Bank is reaching out to customers and local schools, encouraging them to sign the America Saves Pledge.
NBT has delivered more than 1,000 financial education presentations across the bank’s six-state footprint through its Strive® Financial Literacy program, which helps kids, teens and young adults establish a positive relationship with money and navigate personal finances.
“Signing this pledge is a natural extension of our Strive Financial Literacy Program. It encourages young people in our community to make a commitment to save, reduce debt and begin investing in their financial future,” said NBT Bank Executive Vice President of Operations and Retail Banking Joe Stagliano.
The pledge is targeted for students ages 14 and older, and encourages participants to set a specific savings goal and stick to it. It’s available online at www.americasaves.org/pledge. Once someone signs the pledge, they can also elect to receive periodic tips and reminders sent by email or text message to help them reach their savings goals.
When it comes to savings success, individuals with a plan are far more likely to save than those without a plan. The following simple steps can help you stick to a plan to pay down debt, spend less and save more:
Develop a budget. Look at your debt and other expenses in order to figure out how and where you can be saving. This is easiest and most effective when you write down an actual budget – that way you can see all of your expenses, including ones you can cut.
Stop borrowing. If debt is part of the problem that’s hindering you from saving, then the next step is to stop borrowing.
Look for milestone events. Significant events like an annual tax refund can be an opportunity to start or improve your savings.
Stick to the pattern. Once you’ve paid off your debts, take the money you were paying each month on your debts and begin to save it.
By focusing on saving, you are not only providing for your own future, you’re also modeling good habits for your children and grandchildren. More tips on saving and additional resources can be found online at nbtbank.com/strive.
NBT Bank offers personal banking, asset management and business services through a network of 154 banking locations in six states, including New York, Pennsylvania, Vermont, Massachusetts, New Hampshire and Maine. NBT Bank and its parent company, NBT Bancorp Inc., are headquartered in Norwich, NY. More information about NBT Bank and NBT Bancorp can be found online at www.nbtbank.com and www.nbtbancorp.com.
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