Savings Facts and Statistics

Consumers with Savings Plans Far More Likely to Save, Reduce Debt

There are striking differences between the savings progress of those with and without a savings plan, as the figures below suggest. (Source: America Saves and the American Savings Education Council (ASEC) 2011 National Survey Assessing Household Saving (link))

With Plan Without Plan
Spend less than income, save difference 88% 50%
Reducing consumer debt or debt-free 87 69
Sufficient emergency savings 85 50
Saving enough for retirement 61 27


Piggy Bank Pageant

Deck out your pig and enter Virginia Saves' Piggy Bank Pageant!  April is Financial Capability Awareness Month and is the best time for parents to introduce their children to the importance of savings. 

Children ages 6 - 16 are eligible to participate.  Here's how it works:

Your child or children's group create a piggy bank using household items. (coffee can, soda bottle, margarine dish etc.)  Snap a photo of your pig and attach an enrollment form to be considered for eligibility.  Grand Prize winners win $100!

Two age groups:

Class A: Ages 6 - 10
Class B: Ages 11 - 16

Get creative, your piggy bank could actually be a house, a car, a ball, or another animal.  The sky's the limit.  Entries will be posted at Virginia Saves Facebook page. 

To find out more about this annual savers activity, click here.


It's Hurricane Season....Can you weather a financial storm?

Virginia Savers:

Check out this article from NEFE (National Endowment for Financial Education).
It includes information on natural disasters and how to prepare for them financially, including reviewing your insurance policies.

Click here for more info on: Weathering Financial Storms


Virginia Saves Piggy Bank Pageant & Photo Contest Winners Announced

Congratulations to all of the sponsoring organizations, volunteers, parents, and most of all, youth savers that participated in Virginia Saves 3rd Piggy Bank Pageant and Photo contest.

As we celebrate and promote financial literacy initiatives in April each year, Virginia Saves appreciates the work by our educators, community volunteers and family to help teach youth on the benefits of saving.  These life lessons are important for all of us as we seek to help families and communities become financially fit.

This year, 70 entries were received from 10 communities in Virginia, including: Charlottesville, Dublin, Newport, Pearisburg, Pembroke, Portsmouth, Radford, Roanoke and Virginia Beach.

In addition to individual entries submitted directly to Virginia Saves, we would like to acknowledge the participation from these groups:

·        Beans and Rice, Radford

·        Beta Chi Omega Chapter Alpha Kapa Alpha Sorority, Inc., Roanoke

·        Community Housing Partners, Yorktown and Portsmouth

·        Eastern Elementary/Middle School

·        Girl Scout Daisy Troop #17

·        Greenstone on 5th Neighborhood Network Community Center, Charlottesville

Winners by Class:  See Winners on Facebook

Virginia Saves and Virginia Saves appreciate the support and sponsorship of BB&T, Virginia Housing Development Authority and America Saves.  We will be coordinating with sponsoring organization for the presentation of awards.
Teresa Walker
Virginia Saves, Chair
Piggy Bank Pageant