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Create smart saving strategies

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(Family Features) Money management and building long-term financial health is a careful balancing act between long- and short-term financial needs, and now is a perfect opportunity to re-examine your goals. People sometimes focus on short-term needs, making sure they can cover routine bills and living essentials. However, many Americans do not have the resources to cover an unexpected expense, much less save for the future.

Data from the U.S. Financial Health Pulse shows that Americans are savings-constrained, over-indebted and underinsured. In fact, despite it being the longest period of economic expansion in modern times, 79% of Americans are not financially healthy, and many live paycheck to paycheck just to cover bills, rent and basic living expenses.

As a result, 60% of households are unprepared for a financial shock, with 41% unable to cover an unexpected $400 expense without borrowing money or selling a personal item. This makes saving incredibly challenging, especially for many low-income households.

“The data makes it quite clear that a significant segment of America is struggling to create a meaningful savings account, whether it’s intended as an emergency fund or a means of attaining a goal without incurring debt,” said Deborah Winshel, global head of social impact at BlackRock.

Last year, the firm launched its Emergency Savings Initiative, a program designed to help people living on low incomes gain access to, and increase usage of, savings strategies and tools to help establish important safety nets.

As with any financial matter, there’s no one “right” way to save. Individual circumstances require a customized approach to determine the best method to fit needs. In addition to traditional saving methods, Common Cents Lab, Commonwealth and the Financial Health Network are working with financial institutions and other enterprises on an initiative to create new and experimental programs that address the challenges many consumers face when it comes to saving money.

If you’re not sure where to start, consider these options and consult with your credit union, employer or financial institution to learn more about the options available to fit your unique lifestyle and savings goals.

Automated Savings
Often offered as an option through employer payroll, this approach allows you to designate a portion of your paycheck to be deposited in a savings account. Whether you choose to make it a flat amount or percentage of your income, it’s an easy method that allows you to consistently funnel money into savings with a one-time setup process.

Round Up
Some financial institutions offer programs in which every transaction you make on your account, or perhaps just those made using your debit card, are rounded up to the nearest whole dollar. The difference between that whole dollar amount and your actual purchase amount is then directed into your savings account.

Prize-Linked Savings
Marrying the fun of winning prizes and a savings account, this type of program incentivizes personal saving by offering an on-going, risk-free chance to win a prize, such as additional cash, by making savings account deposits. Promising both security and opportunity (and perhaps some fun), the amount deposited by the account holder is never at risk, unlike lotteries and games of chance.

Windfall Moments
When you receive a substantial amount of money from a source like a tax refund or a work bonus, it can be tempting to splurge on immediate needs or something fun, like a vacation. Allowing yourself to enjoy a portion of the money isn’t a bad idea, but you can also take advantage of the unplanned income as an opportunity to launch, or grow, your savings account.

Collective Savings
Accountability is a common barrier to better saving habits, but when others are counting on you to contribute your share, there’s a greater level of responsibility at play. A collective savings account may be a good solution for a shared goal like a trip, special project or funding a special event for a loved one.

To learn more about the savings problem and some of the work being done to help employees, customers, gig workers and students take essential steps toward long-term financial well-being, visit savingsproject.org.

Photo courtesy of Getty Images

SOURCE:
Financial Health Network

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Ready, set, spring: 5 early season yard tips

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(Feature Impact) As the days lengthen and warm air has you ready to get your patio furniture out of storage, that means it’s time to give your yard a fresh start. With a little planning now, you’ll be rewarded with a fuller, greener and easier-to-maintain outdoor space once spring is in full bloom.

1. Start With a Clean Slate
Winter leaves behind plenty of debris, including fallen branches and matted leaves. Before you start planting, take a walk around your yard and tidy up:

  • Rake moisture-trapping twigs and leaves that can cause fungus
  • Remove dead plants or spent annuals from flower beds
  • Sweep or power wash patios and walkways

2. Tune Up Tools
Digging into yard work only to find rusty shears or a squeaky mower can prolong the task. Instead, ensure your tools are in good working order:

  • Sharpen blades on lawn mowers, shears and pruners
  • Install fresh string on trimmers and weed eaters
  • Replace old fuel or clean air filters on gas-powered tools

3. Assess Your Lawn
Early spring is ideal for noticing how winter treated your grass. Dethatching and aeration can go a long way toward helping grass absorb nutrients. Set the stage for lush growth once warmer weather arrives by looking for:

  • Bare patches that need reseeding
  • Weeds making an early debut
  • Compacted soil where water pools instead of soaking in

4. Give Plants the Right Start
Now’s the time to prep beds for new life. Before you plant:

  • Loosen soil and mix in compost for nutrients
  • Add mulch around perennials
  • Plan your planting based on sun and shade patterns

5. Hydrate Wisely
Strong roots start with proper hydration. Even before sprigs pop up, early spring can be dry as the sun gets higher. Remember to:

  • Water flowerbeds if rainfall has been scarce
  • Check irrigation systems for damage
  • Mulch lightly after soil warms to lock in moisture

Getting your yard ready early in spring isn’t about perfection; it’s about setting yourself up for outdoor enjoyment all season long. Find more tips to get your yard in shape at eLivingtoday.com.

Photo courtesy of Shutterstock

    

SOURCE:

eLivingtoday.com

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Refresh your home: Spring cleaning checklist

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(Feature Impact) After months of winter, spring cleaning isn’t just about dusting and vacuuming – it’s about inviting sunlight and fresh air into your space through the open windows and giving yourself a fresh start for the longer days ahead.

It’s also a perfect opportunity to clear out the old and make room for new experiences, memories and energy. Whether you’re tackling deep cleaning for the first time or you have seasonal rituals for tidying up your home, this room-by-room guide can help you plan and conquer seasonal chores.

Whole Home:

  • Declutter spaces: Donate, recycle or discard what you don’t need
  • Wash windows inside and out
  • Dust baseboards, walls, vents and ceiling fans
  • Wipe down doors, knobs and light switches
  • Vacuum and clean under and behind furniture
  • Clean curtains and blinds
  • Store seasonal items like winter clothing and decor
  • Replace air filters
  • Shampoo carpet

Kitchen:

  • Empty and wipe down refrigerator and freezer
  • Clean oven, stovetop and microwave
  • Scrub countertops and backsplashes
  • Clean out the garbage disposal
  • Sweep and mop floors
  • Organize the pantry and throw away any expired items

Bathrooms:

  • Scrub grout and tile
  • Clean mirrors and glass surfaces
  • Deep clean toilets
  • Wipe down cabinets and bathroom fixtures
  • Wash rugs, floor mats and the shower curtain and liner
  • Empty trash and clean the bin

Bedrooms and Other Living Areas:

  • Wash bedding, pillows and linens
  • Organize closets and drawers
  • Vacuum chair, couches and mattresses as well as under cushions
  • Dust shelves and decor
  • Clean light fixtures and lampshades

Outdoor Areas:

  • Power wash patios, sidewalks and driveways
  • Wipe down outdoor furniture and replace textiles like pillows, cushions and umbrellas
  • Clear debris from garden beds
  • Prune shrubs, plants and trees
  • Organize garages and sheds
  • Reconnect hoses and sprinklers
  • Prep lawn equipment such as mowers, weed eaters and blowers

For more spring cleaning tips and tricks, visit eLivingtoday.com.

Photo courtesy of Shutterstock

    

SOURCE:

eLivingtoday.com

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Curating a memorable vacation for your family

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(Family Features) Travel has a way of slowing time down, creating memories for loved ones that last long after suitcases are unpacked and regular routines return. For many Americans, their most treasured family memories took place on a vacation or trip rather than at home.

In fact, nearly 67% said they value a core memory more than a physical souvenir after a vacation, according to a survey commissioned by Holland America Line, a cruise line that has been exploring Alaska for nearly 80 years. What’s more, almost 86% of survey respondents said they have looked at photos or videos from a past trip to lift their mood, and more than 90% said positive travel memories can improve their mood during difficult times.

With Alaska on the travel bucket list of more than two-thirds of Americans, it’s a destination that is influencing experience-focused family adventures.

Explore Curiosities
Travel is about more than seeing new places. For many Americans, it’s also a time to learn, explore new interests and slow down. Booking a cruise can encourage those behaviors.

According to the survey, 61% of Americans are more likely to try new foods while traveling on a cruise, and nearly half (48%) said they’ve discovered a new interest or hobby during their cruise, including wildlife, food, history or culture. For example, cruise guests may be able to try local specialties, like fresh Alaskan seafood, reindeer sausage, birch syrup and Alaskan berries, while on board.

Unstructured time is part of the appeal of cruises, with 28% of respondents sharing they read more during their trips.

Focus on Nature
Nature-focused destinations stand out because they offer experiences that feel rare and immersive, especially in places where wildlife and landscapes are central to the journey. More than 4 in 10 survey respondents said seeing wildlife in nature would be the most memorable family vacation experience, compared with about 12% who said meeting a character at a theme park would stand out most.

Whether spotting whales, watching glaciers calve or seeing the Northern Lights stretch across the Alaskan sky, the landscape being part of the experience helps define the journey. To help guests witness the majestic animals found in Alaska, including whales, eagles, bears, moose, otters, seals, sea lions and more, Holland America Line carries a wildlife expert on board. Plus, a wildlife spotting guide points out native animals found along the cruise route and a map with the best places to see each species is included.

“Guests tell us time and again how profoundly nature shapes the memories they carry home,” said Robert Morgenstern, senior vice president of Alaska Operations at Holland America Line. “Wildlife sightings, time outdoors and shared moments linger long after the cruise ends, especially for families exploring Alaska together.”

Reimagine Family Time
For families, travel often creates time for bonding that daily routines simply don’t allow. More than half of the survey respondents said their best family memories occurred while traveling together, and more than 4 out of 5 (82%) said some of their strongest family bonding moments happened during a vacation or family trip.

In addition to shared memories, more than 91% said travel had a positive impact on their mental and emotional well-being.

As travelers look for relief from routine and overstimulation, finding experiences rooted in nature, exploration and shared moments can help create lasting memories and emotional connection.

To learn more about Alaska travel and book your next family adventure, visit hollandamerica.com.

    

SOURCE:

Holland America Line

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