Plan for Your Personal Savings Goal

Buying a car? Paying for college? Purchasing a home? Planning for retirement? Or simply want to be aware of your financial landscape?

A coalition of Wisconsin organizations is encouraging Wisconsinites to participate in Wisconsin Saves Week and take steps toward securing their financial futures. Wisconsin Saves Week, Feb. 21 – 25, 2022, is part of the national America Saves Week, an annual campaign focusing on helping Americans build financial resilience.

“This is a great opportunity for Wisconsinites to start laying the groundwork for achieving their savings goals, whether that’s buying a car, paying for college, purchasing a home, or planning for retirement,” said Wisconsin State Treasurer Sarah Godlewski.

“Being financially resilient is more than having access to money, it includes individuals being conscious of their own financial landscape, being aware of available resources, and being willing to seek out and take advantage of opportunities that will support and increase their financial wellness,” said Department of Financial Institutions Secretary-designee Olson-Collins. “Our goal with Wisconsin Saves Week is to help more Wisconsinites start to build emergency savings and save for the future.”

Wisconsinites are encouraged to evaluate their personal finances and savings habits by taking the America Saves Pledge. Through this pledge, individuals complete a financial check-in that allows them to get a clear view of their finances, set savings goals, and create a plan to achieve them. After completing the pledge, America Saves provides tips, resources, and tools through short emails and text reminders to keep individuals on track toward their savings goals.

Each day of Wisconsin Saves Week centers on one of five critical areas of financial wellness to build financial resilience. The daily topics are as follows: Monday, February 21: Save Automatically; Tuesday, February 22: Save for the Unexpected; Wednesday, February 23: Save for Retirement; Thursday, February 24: Save by Reducing Debt; and Friday, February 25: Save as a Family.

“With so many Wisconsinites still feeling the financial distress from the coronavirus pandemic, this statewide effort is timely and needed,” said Wisconsin Women’s Business Initiative Corporation President Wendy Baumann. “We look forward to supporting Wisconsinites in gaining better savings habits and getting key strategies that enhance their financial wellness journey.”

Want an easy way to save automatically? Sign up for Wolf River Community Bank Smart Move Savings. Where each debit card transaction is rounded up to the nearest dollar and the change is automatically deposited into your Wolf River Community Bank savings or Money Market account

Employers Can Offer a Savings Benefit for Employees

Recruit and Retain Talent with a Split Deposit Feature

“Wisconsin Saves is a timely program aimed at helping Wisconsin employers recruit and retain the best talent particularly during this ultra-competitive job market,” said America Saves Senior Program Manager Carolyn Pemberton. “Employers can distinguish themselves from other businesses by offering this easy-to-use financial wellness benefit that helps their employees to save in the easiest and most effective manner by saving automatically through split deposit.”

Employers can sign up at AutoSave.WisconsinSaves.org to receive a suite of ready-to-use resources to help them promote split deposit as a way they support their employees in reaching their personal savings goals. Any employer in Wisconsin is eligible to use the information as long as they pay their employees using direct deposit. For more information on Wisconsin Saves, contact America Saves Senior Program Manager Carolyn Pemberton at cpemberton@consumerfed.org.

“I am proud that this coalition from across the state has come together to provide resources and information to Wisconsinites so that they can take action for their financial well-being,” said Treasurer Godlewski. “We also know that employers have a role to play, and this week I encourage all Wisconsin employers to promote good savings habits by signing up for the Wisconsin Saves program. Together we can work to make a positive impact on the financial lives of Wisconsinites and build a more economically secure future.”

Article provided by Wisconsin Department of Financial Institutions. Graph provided by SplitToSave.org.

The coalition of Wisconsin organizations for Wisconsin Saves Week includes: the Wisconsin Department of Financial Institutions (DFI), the Wisconsin Bankers Association (WBA), the Wisconsin Women’s Business Initiative Corporation (WWBIC), and America Saves, the leading national campaign in promoting savings.