Americans have a culture of debt. We've been conditioned to think borrowing money is the most reasonable way to meet our needs. We finance our houses, cars, education, medical bills -- even our furniture. The concept of cash-only purchases is far removed from the current reality, and, for many of us, the idea of ever being "debt-free" is a laughable one.
It doesn't have to be.
America Saves Week, which ends Saturday, is the perfect time to introduce Alaska Saves -- a local twist on a national initiative to help individuals and families dig themselves out of debt and create a culture of savings. It's about "starting small and thinking big." It's about setting a goal and making a plan.
Alaska Saves offers free tools, resources and support to first put a plan in place, and then stick to it.
It all starts with a personal pledge to save. Whether you want to save for an emergency, a new baby, a vacation, or anything in between, Alaska Saves prompts Alaskans to think about their financial goals -- and then figure out what it will take to reach them. Alaska Saves provides full access to saving strategies, budget worksheets, everyday savings tips, and more.
According to the National Foundation for Credit Counseling, saving should be a top priority for all of us. The NFCC recommends setting aside at least 10 percent of each paycheck on a regular basis. Sometimes this isn't possible -- and it's almost never easy. But, here's the best part: everyone can be a saver. Even if you start by just saving loose change, you have taken a small step toward reaching big goals.
The key is to shrink debt and grow savings over time. The less debt you have, the more control you have over your financial goals and stability.
United Way of Anchorage and partners have been teaming up for a number of years to help Anchorage households achieve financial stability in a variety of ways. It takes teamwork. There isn't one way to reach everyone, nor one agency that can offer all the options needed to make a difference.
Improving workforce skills to improve wages, financial education, money-management skills, improving credit scores, reducing debt and attaining home ownership are just some of the pieces that contribute to financial stability and the work of the United Way of Anchorage and its partners.
Alaska Saves is a welcomed new addition to this effort, and, based on the many success stories from people who have changed their futures by taking intentional steps, it's making a huge impact.
"Financial stability" is not an exciting phrase. Financially stable people, however, can do lots of exciting things. In addition to achieving personal dreams, financially empowered people contribute to their economies. This creates a growing, thriving community, and a strong future for all.
You, too, can start taking steps toward realizing what you never thought possible. Visit www.americasaves.org/local-campaigns/alaska-saves to take control of your future and pledge to save today.
Larry Snider is the west region director of Money Management International, the nation's largest network of credit counseling agencies (formerly Consumer Credit Counseling). He is based in Anchorage. Maureen Haggblom is income impact director with United Way of Anchorage.
The views expressed here are the writer's own and are not necessarily endorsed by Alaska Dispatch News, which welcomes a broad range of viewpoints. To submit a piece for consideration, e-mail commentary(at)alaskadispatch.com