Financial Literacy Month Round Up: Saving

Financial Literacy Month Core Competency Saving

Earning ? Spending ? Saving ? Borrowing ? Protect



April 1 marked the kick-off of National Financial Literacy Month, an entire month dedicated to creating awareness of the importance of financial literacy and teaching individuals how to build and maintain healthy financial habits. In an effort to promote and standardize financial literacy across the nation, the Department of Treasury’s Financial Literacy and Education Commission has developed a set of core educational concepts that should be covered be financial literacy educators. The concepts include Earning, Spending, Saving, Borrowing, and Protect.

In honor of National Financial Literacy Month, we will be doing themed link round-ups each week to highlight a different core concept using the best of iGrad’s articles and resources. This week’s round-up will bring you the best and most relevant information within the topic of Saving.

The core concept, Saving, strives to educate on the importance of starting to save early; paying yourself first; understanding and establishing a relationship with the financial system; knowing about financial assets; planning for and meeting your long-term goals; and growing your wealth. To help you develop a stronger understanding of these fundamental lessons, we present a comprehensive collection of iGrad’s top resources on saving and other related subject matter.



Strategies to Start Saving
Figuring Out Finance: What is the Best Savings Account?

A basic savings account is generally one of the easiest financial vehicles to grasp, but with as many options as there are today, it can be hard to figure out which is right for you. This article helps to break down the different components of each...

4 Essential Bank Accounts Everyone Should Have

Opening your first bank account is a significant step in asserting your financial independence, but it doesn’t stop there. Beyond your basic checking account, there are other core accounts you should have for proper money management…

Credit Unions: Benefits, Membership and Types

If you are sick of your current bank's fees and interest rates, or you are hesitant to open your first checking account for these same reasons, you might consider joining a credit union. With four types to choose from, there are many benefits...

How to Read Your Bank Statement

Bank statements can be a bit intimidating for new bankers. While most banks have their own layout style for client bank statements, the information presented in the statement is usually the same. Here are the essential parts you need to understand...

How to Open a Bank Account

Most people open a bank account by the time they begin earning income. It is one of the first steps of financial independence and will allow you to more efficiently manage your money. Here are some things to consider when you open one...

How to Open a Safety Deposit Box

Did you know that banks are not only used as a safe place to keep your money, but that they also offer safety deposit boxes where you can store other valuable, non-monetary belongings? Here are some important facts to remember when opening one...

Bank AccountBank Accounts Explained: Checking, Savings, and Money Market

If you are under the impression that all bank accounts are the same as the next one than you might want to brush up on your understanding of financial institutions. Here, we explain the pros and cons of different bank accounts as savings vehicles...

How to Balance a Checking Account

Regularly balancing your checking account has many advantages and is an important part of asserting control over your financial health. This step-by-step guide and its useful tips will teach you how to monitor your funds and avoid overdraft fees...

3 Advantages to Using Direct Deposit

One of the keys to successful money management is taking advantage of the financial tools and resources that make this easier to achieve. A great example is the direct deposit feature offered by many employers. Find out why you should use it...

Two Simple Strategies to Save Money and Pay Off Debt

Achieving financial health requires the application of many different money management strategies and it can be hard to prioritize the needs of your personal situation. Learn the key ingredients to effective goal setting for financial success…

5 Easy Ways to Pay Down Debt (Without Living Like a Monk)

No matter how major or minor your situation is, it is easy to succumb to feelings of despair when a debt-free life only seems possible with drastic action. But don't worry. These tips will shrink your debt without turning your life upside down...

How to Calculate Your Personal Net Worth

Lenders look at personal net worth along with credit history when considering whether to loan money to an individual. Even if you are not considering a loan you should know your net worth as it is the best indicator of your financial health…

5 Ways to Cut Down Your Cell Phone Bill

For recent grads living on an entry-level salary, the cost of living can take a toll on your budget, so it is important to save whenever possible. Cell phone bills are a main monthly cost that can get expensive, but these savings tips can help...

How to Improve Your Fuel Economy

With current gas prices, those of us who depend on automotive transportation for our daily routine are taking a big hit to our budgets. If riding a bike isn't a viable money-saving alternative, these tips can help reduce the impact of fuel costs...

Emergency Fund 101: What is an Emergency Fund?

An emergency fund provides a form of financial security that no person should be without, and it's never too soon to start saving. But do you know exactly what an emergency fund is? Find out all the important details here to help you understand...

Emergency Fund 101: What are the Key Components?

The concept of an emergency fund is simiple enough: a savings fund that will cover unexpected expenses. But did you know there are certain components it must have to guarantee its effectiveness? Learn what these are so you can start saving today...

Emergency FundEmergency Fund 101: How Big Should Your Fund Be?

So, you know what an emergency fund is, but do you know how big yours should be? This amount will differ depending on everyone's unique financial situation. Find out what you should include to calculate the grand total of your ideal-sized fund...

Emergency Funds 101: Tips for Builiding Your Fund

Setting out to build your emergency fund may seem like a daunting task, but getting started is actually the hardest part. With these helpful tips for effectively growing your savings, you'll be able to reach your monetary goals in no time at all...

An Introduction to Certificates of Deposit

Certificates of Deposit are a special type of deposit account that can be used as a safe place to invest your savings. Learn all the basic functions of these accounts and how they might be a smart investment vehicle to help you grow your money…

Different Types of Certificates of Deposit

CDs are a popular investment choice because they are low risk and high yield, but every type of CD has specific terms that you must understand before investing. Do not let the high ROI distract you from the fine print. Here is what you need to know...

Interest Rates on Certificates of Deposit

By now, you probably know that a CD is a special deposit account that earns a higher rate of interest. But do you know why it generates more interest? Or what options you have for your investment money once the CD matures? This article explains it all...

How to Create a CD Ladder (Infographic)

Want to take a stab at investing? Certificates of Deposit are a safe option for beginners because they are generally low-risk and higher return. To step up your game, you can create a CD ladder. Not sure what this is? The benefits are worth it...

Retirement Savings5 Retirement Savings Strategies

For many employed individuals, retirement savings take a back seat to more high-priority, short-term financial needs, and even those who do start saving often don’t save enough. Here are five ways to prepare for your future retirement…

The Ultimate Roth 401(k) Guide

Many companies are offering employees the option to invest in a Roth 401(k). While it is definitely something you should consider, first there are some important things you should know about this tax-deferred account before making a decision...

Is a Roth 401(k) Right For Me?

Roth IRAs themselves are not a new idea, but they have only recently been offered in the workplace to employees. If you are not familiar with this investment vehicle, these tips could help you decide whether this is the right opportunity for you...

Road Map to Retirement: The 401(k)

No one can afford to be complacent when it comes to planning for retirement, especially those just entering the workforce for the first time. That is why it is fundamental to your financial future to start early, and be aware of key things like…

Employee Benefits Explained: Retirement and Investment

401(k), Roth, SIMPLE and ESOP—what do these all mean? If you are not familiar with these retirement and investment plans, it is time to learn. Each of these options offer different types of benefits that can help you plan for your future…

Investing in a Roth IRA (Infographic)

Most college students are not sitting around planning for retirement, but it is never too early to start and definitely something to think about. Learn about the basic investment options for Roth IRAs as explained in these simple, beginner terms...

Seeing Eye to Eye With IRA Basics

Individual Retirement Accounts (IRA) might seem like tricky business at first, but if you take the time to understand each kind you will be able to pick out one that is best for you and your future retirement income…

5 Potential IRA Mistakes

Look out, IRA investors! The IRS will soon be turning its attention to taxpayers who make mistakes with their IRA accounts. Nobody likes getting audited, so check your account and make sure you have not made one of these five crucial mistakes...

Breaking Down Mutual Funds

Want your money to start working for you? With investing, there is no one-size-fits-all strategic approach, but mutual funds offer a few different options through which to invest your assets. Find out which investment vehicle is best suited for you...

The Key Difference Between Index Funds and Traditional Mutual Funds

Charting the territory of investing can be tricky business, so if you are not ready to manage your own stock portfolio, an easier option is to purchase shares in index or mutual funds. Not sure of the difference? Find out which type is best for you...

College SavingsParent Pitfalls: Avoid These Common College Savings Mistakes

The fewer loans your student has to take out for school, the less debt they will have to worry about paying back later. That is why smart saving is essential to a successful college fund. To do so, avoid these common parent saving pitfalls…

How Does a 529 Plan Work? (Infographic)

The 529 plan is one of the most popular investment vehicles these days and one of the best ways parents can prepare for covering part of the cost of their child's education. Find out how they work so you can start saving for the future now…

Take Advantage of the 529 Plan's Many Benefits

The cost of education continues to rise, and more and more families are finding the burden near impossible to shoulder, so many are turning to the 529 plan as a college savings vehicle. Why? Because of these key benefits enjoyed by plan holders…

Saving Early is Saving Smart: Watch Your Money Grow With Your Child

It is less expensive to save for college than to borrow, so it’s very important that parents start saving for their child's education as soon as possible. The sooner you start, the more time your money will have to grow. Learn why and how...

How College Students Can Save Money (Infographic)

Tuition isn’t the only cost college students incur. To avoid struggling, follow these money saving and budgeting tips on everything from transportation, accommodations and dining to textbooks and entertainment. You do not want to miss these…

8 Ways to Save on Cost of College

Whether you are a student preparing for college or their parent, cost should not be the end-all cause for giving up on higher education. Here are eight reliable ways to cut back, save up, earn extra, and find more funding to help cover expenses…

Getting Prepared: Steps You Need to Take Before Opening a 529 Savings Plan

Like any long-term goal, a 529 college savings plan requires planning and commitment in order for it to be successful. To ensure financial security for your child’s educational future review these steps to take before opening a 529 plan…

Ways to Save Money at Home (Infographic)

Saving money at home is easy to do and can have huge financial payoff. Help your home become energy efficient and cut utility bills for many years to come. You’ll be surprised how much savings you’ll earn with these simple steps…

It's Not That Hard to Save a Million Dollars

If you are just starting out financially, becoming a millionaire only seems achievable through a winning lotto ticket or a lucky investment. But you don't have to leave it to luck. There is a safer, sure-fire way to get a million in your bank...

Saving StrategiesCompound Interest Pays Off (Infographic)

Every consumer should know that saving early is saving smart. The long-term financial payoff is bigger the sooner you begin, thanks to a little thing called compound interest. Check out this infographic to see where you will be financially at age 65...

Reap the Benefits of Alumni Only Savings

Once you graduate college, you must enter the real world and face real-world prices. But don't be so quick to leave college behind. Your alma mater could save you big money with some of the hottest deals in town. Find out how you can benefit...

Road Map to Retirement: Your Retirement Savings Options

In the first installment of this new series, we introduce the basic concepts of retirement savings. Even in your twenties, it is never too early to start. Find out how easy it is and how much it will pay off in the long run if you start saving now...

Start Saving Strategies

These days, it’s imperative to save for a rainy day, because you never know when that day will come. Follow these savings stops for recent college grads to help you live according to your income by working with what you have…

Savings Fitness: A Guide to Your Money and Financial Future (Resource)

Right off the shelves of iGrad’s online eBook library, this PDF starts you on the way to setting goals and putting your retirement high on the list of personal priorities. It will show you how to manage your money so you can afford today’s needs yet still fund tomorrow’s goals. It will help you make saving for retirement and other goals a habit. You’ll learn there is no such thing as starting to save too early or too late.

How to Start Saving Today

Always pay yourself first! The average American has a negative savings rate. This means they are spending more than they make. Do not make this mistake. Having a savings account, even if it is small is a huge benefit…

Pay Yourself First: Student Saving and Investing Tips

Do you know the number one investing principle? The one that will allow you to spend as you may and still retire a millionaire? If you don't know anything about investing, read on to discover the one thing you absolutely need to know...

Saving for a Goal Calculator (Resource)

It’s hard to save up for something over a long period, especially when there is no end in sight to when you’ll have enough money to buy it. Calculate how long it will take by analyzing factors about your goal item and your cash deposits...

Financial Literacy: Saving and Investing Money (Video)

No idea what or how to plan for retirement? Only have a checking account to your name? It's time to set up an emergency fund, a retirement plan, and get cracking on your financial future before it's too late. This episode of iGradTV gives you a workable, step-by-step strategy for becoming a savvy investor.

How to Save 100 Bucks a Week on a Crappy SalaryHow to Save 100 Bucks a Week on a Crappy Salary

Even on an entry-level paycheck, it's possible to save 10 percent or more of your salary by spending less on entertainment, clothes, and dining out.  Here's my day-by-day plan to save you 100 bucks a week straight out of college...

5 Easy Steps for Major Purchases

If you want to forgo deep debt in the future, start planning for your major purchases as soon as you get a steady job with an income, and opportunities for growth.

Savings Growth Calculator (Resource)

Putting money into a savings fund is a smart financial move because it not only provides security for your future, but it also increases over time thanks to compound interest. Use this calculator to determine just how much its value will grow...

Guide to Managing Your Money Better

Becoming a millionaire isn't as hard as you think. If you start saving and budgeting your cash now, reducing your spending, and investing aggressively, you can reach just about any financial goal you set for yourself. Managing your money made easy!

Making Thrifty Sexy Again

Somehow, vintage is hot, but thrifty has got a bum rap. What gives? We 20-somethings are notorious for blowing cash and maxing out credit cards. Here's how to stop making those mistakes without missing out on the action.

Get the Facts on Saving and Investing (Resource)

Right off the shelves of iGrad’s online eBook library, this PDF provides a roadmap to your financial security through savings and investing. The basics of both these important topics are explained and you will learn how to assess your personal financial situation to plan and set realistic goals for a fruitful future.

Have Fun with Your Finances: Try and Online Financial Rewards System

Do you ever wish that managing your money was more fun? Now it can be. Get financially fit using one of these free, online financial rewards programs. Each has their own great prizes and features, so you can choose a program that best motivates you...

Banks versus Credit UnionsBanks versus Credit Unions: Does it Matter?

Unhappy with your current financial institution?  Wondering if the grass is greener on the other financial side? Deciphering the banks versus credit union debate can be a bit daunting, but sometimes the best answer lies in the middle…

Debit versus Credit: What and When to Use?

Anyone with a bank account most likely has both debit and credit card options to choose from. The question of the day is, “Which is better?” As with so many topics in life, this should be taken on a case-by-case basis…

Shop and Save at the Bank: A Buyer's Guide to Finding the Right Loan, Credit Card or Deposit Account (Resource)

Right off the shelves of iGrad’s online eBook library, this PDF teaches you everything you need to know about shopping at the bank to make sure you’re getting a good deal on bank products.

Shop: The Card You Pick Can Save You Money (Resource)

Right off the shelves of iGrad’s online eBook library, this PDF teaches the importance of comparison shopping because it could save you money. Learn how to be like other smart consumers who comparison shop for credit, whether they're looking for a mortgage, an auto loan, or a credit card, to find the plan that best fits your spending and repayment habits.

Financial Literacy: Smart Banking and Managing Accounts (Video)

Everyone should have a bank account. It's a way to keep track of your money, link it up to savings, retirement, and investment accounts, and establish credit history. We help you pick the right bank or credit union for you in this quick overview.

Figuring Out Finance: Is Automatic Bill Payment a Good Idea?

In the first installment of the Figuring Out Finance series, finance expert Ted Jenkin discusses the pros and cons of automatic bill payment with helpful advice so that you can decide if this is the appropriate money management tool for you…

How Roommates Can Help You Save to Purchase Your Next Home

There is no quick and easy way to making the transition from renter to owner, but becoming budget-savvy and learning good financial habits will help you get there. The key is to not rush, to know your options, and perhaps practice “sharing is caring” with a new roomie before you put a down payment on a home.

Five Easy Steps to Organize Your Finances

Do you dread looking at your bill pile at the end of the month? Do you hate late interest charges? Get organized, and get ahead by organizing your finances.

Simple Strategies for Building Your Financial Future (Resource)

Right off the shelves of iGrad’s online eBook library, this PDF teaches you ways to plan and save for your future so that you are prepared for important events down the road like retirement and major purchases such as buying a home.

Drive off With Rental Car SavingsDrive off With Rental Car Savings

Got a vacation in your sights?  When most of us head out of town and need a rental car, we pick one up at the airport.  Sure, this may be convenient, but with just a little extra effort, you can get big savings on your next rental car.

Save Money on Your Cell Phone Bill Now

It can’t hurt to sit down and look over your last two or three months’ worth of cell phone bills and calculate your average phone, data, and text usage. Your unlimited talk/text plan might be cheating you of hundreds of dollars a year.

14 Ways to Save Serious Cash on Gas

Bad drivers and new drivers, beware: after insurance, filling up your gas tank is your biggest car-related cost. Here are 14 tips to increase your fuel mpg and reduce your gas bill, from not topping off to closing windows on the highway.

Get Ripped, Not Ripped Off

Recent college graduates might not have any income, but they still need to work out, especially if they spend most of their days sitting at a desk. Carlee Mallard breaks down how to get the best deals (and negotiate a rock-bottom monthly price)...

Is Hard Water Siphoning Your Wallet?

Save money and frustration by investing in a filtration system. Even if you just invest in a shower filter, you will save money on skin and hair products while looking great…

Top 7 Best Car Insurance Discounts

Are you worried about how much you’re paying for car insurance? Insurance companies offer a variety of discounts for drivers, from good students to service men, that can save you up to 50%. Find out if you qualify for one of the top seven…

Calculate How Long it Will Take You to Become a MillionaireMillionaire Calculator (Resource)

Have you ever wondered how long it would take you to become a millionaire? Well, wonder no longer. Just use this calculator to find out when you will be able to start making it rain.

Can You Live a Cash Only Life

Credit card companies have made consumers dependent on plastic, but the truth is we don’t need them as much as we thought. There are plenty of ways to live a cash-only life and eliminate your debt. Don’t believe us? Keep reading…

How to Prepare Yourself for Retirement with Ben Stein Pt. 1 (Video)

In the first video of a three-part series on retirement planning, Ben Stein outlines basic steps to begin the retirement planning process.

How to Prepare Yourself for Retirement with Ben Stein Pt. 2 (Video)

In the second video of a three-part series, Ben Stein speaks on the topic of retirement and retirement income regarding how much you have to pay.

How to Prepare Yourself for Retirement with Ben Stein Pt. 3 (Video)

In the third video of a three-part series, Ben Stein speaks on the topic of retirement and variable annuities regarding how it works and different plans.

How You Can Save $1000 in 30 Days (Video)

Ramit Sethi on ABC15 sharing his insights on how you can save $1,000 in 30 days by doing little things.

Pathway to Financial SuccessPathways to Getting Ahead (Resource)

Right off the shelves of iGrad’s online eBook library, this PDF teaches you about savings and investments as another step on the path to economic security and opportunity, covering topics like cash in savings and checking accounts, stocks and bonds, and ownership of a house or other Property.

Investing 101: Put Your Money to Work

Investing can seem pretty complicated, but it doesn't need to be. Follow our plan, one step at a time, and start putting your money to work today.

Investing Trumps Top Ramen

So you are out of college, you have been in the working world for a few years, and now you are trying to figure out how to manage your finances. Too bad they didn’t teach you a lot of financial planning ideas in college...

Mutual Funds: A Guide for Investors (Resource)

Right off the shelves of iGrad’s online eBook library, this PDF explains the basics of mutual fund investing, how mutual funds work, what factors to consider before investing, and how to avoid common pitfalls.

Become a Millionaire by Investing In Yourself

You can become a millionaire, or at least build a solid nest egg, if you start now. The statistics are frightening for the financial future of Gen Y-ers who don’t start investing.

Expert Advice: Smart Investment Strategies (Video)

Ramit Sethi on NBC’s Today Show sharing his ideas and thoughts on how to get your investment started.

Top 10 Gen Y Investment Tips

Thinking about investing, but the stock market scares the jeebies out of you? Don't be afraid, be informed. If you understand some stock market basics, like when are the opportune times to buy and sell, then you will be able to grab some great deals and hopefully make yourself a bit of money.

Investing Can Be an Emotional Rollercoaster Are You Riding the Emotional Roller Coaster of Investing?

Are you ready to start investing? Well, it's time to stop putting it off and time to start creating a bright financial future. Investing can seem like a scary rollercoaster, but iGrad's here to take the turbulent emotion out of a strategy that can help you grow your wealth.

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About the Author: Mackenzie Maher

Mackenzie Maher, Editor and Online Content Manager, graduated in 2010 from the University of California at Santa Barbara with a BA in Global Studies and a minor in Professional Writing, with an editing emphasis. Mackenzie’s diverse portfolio also includes writing, editing, photography, and documentary script writing on such subjects as travel, career, and finance. Next to writing, she is most passionate about world travel (she has visited 24 countries). Check out her travel photography portfolio..

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