June Savings Challenge


Tuesday, June 4, 2019

School is officially out of session for the 2018-2019 year. The students may be excited, but for many parents and teachers, that means lesser income with the same amount of bills or even more. Parents are needing to pay for extra daycare hours. Teachers and paras are needing to make up their income elsewhere.

What if changing just a few things in your budget could help lessen that financial stress? I’m sure many of you have already created a budget. (If not, we suggest doing so – it helps a lot.) Now, what I’m about to propose might sound a little crazy. This may actually be a little easier to do since we been having cooler temperatures, but may pose issues when it comes to the rain. What would you think about leaving the air conditioner off for the month, or at least a good portion of it, and just opening the windows? Granted, if it’s pouring it’d be harder to do… yet, if there’s just the perfect breeze… ah. Imagine how great the fresh air would be. Not to mention how much you’d be saving!

Another option would be to cancel paid subscriptions like Netflix or Hulu. Many people are gone during the day and want to be outside in the afternoon and at night – so do you really need these right now? Put the subscriptions on hold and go enjoy the summer weather.

Students with a Student Savers account need also be mindful of their savings challenge. June is the last month of the 2nd Quarter challenge. Students ages 0-7 need to have saved $25; 8-12 - $50; 13-15 - $75; and 16-18 - $100. Watch closely to see if your age range changes before the end of the quarter. Student Savers accounts will need to show a net increase of their savings goal in order to earn an incentive sticker in the next quarterly bulletin coming in July.