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Each year, millions of people make resolutions for the new year. Â People resolve, or commit, to change or add something in their lives. Â Many times resolutions focus on working out or healthy eating. Â Others are based around attitude or life plans.
At Young Americans Bank, we want you to think about a resolution for saving for 2015. Â Let’s get started.
First, you need to think about what you want to save for. Â This is different for all our customers, because each age group focuses on different things. Â Customers who are 8 to 10 years look to save for some fun toys or new gadget. Â Many of our 13- and 14-year-old customers like to save for fun clothing or maybe a middle school trip. Â Our teens like to save for cars or gas money, and our 18-year-olds are generally looking at saving for college. Â What are you saving for? Â Tell us below in the comments section.
Second, think about what have you saved in the past. Â Have you been able to “pay yourself first” like we suggest? Â This means that every time you receive money, whether it’s a gift or a paycheck, the first thing you do is take a portion — usually 10% — and put it in your savings account. Â Do you pay yourself first? Â If not, this might be a great savings goal for 2015. Â If you already do this, consider increasing the amount you pay yourself, say, to 11% or 12% of each amount of money received.
Finally, think about how else you can save money.  Do you spend a lot of money on buying coffee each morning before school?  Do you tend to shop for clothing a lot?  How might you  be able to cut out just one purchase a week to save a little bit more more?  Tell us below what purchase you might cut out.
We would love to hear your savings goals for 2015. Â Be sure to share them with us below!