San Diego, Calif. – Feb. 18, 2009 – Art Of Saving, a personal finance social network, has started a petition to establish, recognize, and honor a National Savings Day in the USA.
After decades of conspicuous consumption and spending events like National Splurge Day (“Indulge Yourself”), Black Friday, and Cyber Monday, Americans will now have an official day dedicated to improving their personal finances.
Why we need this day of recognition?
With the current economic decline, times are bleak for American consumers. Many families are only three pay checks away from bankruptcy. Others are vastly underestimating the amount of money they need for retirement. A recent survey by The Center for Retirement Research determined that American workers are saving at a rate that would allow them to replace only 57% of their preretirement income after they stop working.
Students are also hit hard by the increasing cost of higher education. College loans and credit card debt, compounded with lower starting salaries, are keeping these students in financial distress for many years after graduation. The most disappointing fact is that this expensive college education does not even provide most students with the fundamentals of personal finance management.
This is why our nation needs to embrace a National Savings Day – a day that honors the act of saving, living within one’s financial means, planning for the future, and increasing financial education. Individuals can honor this day by simply brown bagging lunch, depositing the content of their savings jar into their savings account, and reflecting upon their actual needs versus their desired wants. National Savings Day also presents the perfect opportunity to identify new ways to save, set new and realistic financial goals, review budgets, and retirement savings plans.
Employers can also actively participate in this effort by promoting personal finance education through training sessions and seminars, as well as through the distribution of informative materials to their employees.
Please support this cause by signing the petition to establish, recognize, and honor a National Savings Day.
About Art Of Saving
Founded in 2006, Art Of Saving provides a simplified and systematic approach to personal finance, budgeting, and money management. Through the application of its broad social networking platform, innovative educational workshops, informative articles, and dynamic discussions, consumers are offered simple and effective tools to achieve their financial goals. For more information, visit www.ArtOfSaving.com.