Building Futures Network
There's truth in the old saying, “it takes money to make money.” But it’s not always easy for people to find money to save and invest. Is someone you know looking for help? Here are four steps to help them get started.
- The first step is the most important: get people to commit to saving money. How? Show them the benefits of saving — and the risks if they don't. Read Saving money: it all adds up.
- Once they're convinced that saving is important, they should set some clear goals. If they need help with this, discuss the nine best reasons to save money with them. Emphasize how important it is to know what you’re saving for — and build a plan to get there.
- Most people will need to budget to find the money to meet their goals. How do I make a budget? is a good place to start.
- Remind them to put their money to work. Small amounts sitting in saving accounts and piggy banks earn little to nothing. Encourage them to invest that money and watch it grow. Introduce them to the benefits of investing with What are three ways to make my money grow?
Remember: seeing is believing — so show people the money! Use the Savings Monitor
to show them how small changes can add up to big savings, especially over time.