From Overwhelmed to In Control
In 2017 Debi felt overwhelmed. Her credit cards were maxed, and she wasn't exactly sure how to handle it. When asked how her credit issues started, her answer sounded like many Savers that we've spoken to: making too many impulse purchases.
Related Topics
In 2017 Debi felt overwhelmed. Her credit cards were maxed, and she wasn't exactly sure how to handle it. When asked how her credit issues started, her answer sounded like many Savers that we've spoken to: making too many impulse purchases. “I was driven by feelings like ‘That sounds good,’ or ‘I am too tired to cook.’” Then she attended a university extension program that introduced her to America Saves. That’s where she heard the tip that set her on her savings journey - stop accumulating debt.
That may sound simple, but it was the boost Debi needed to steel herself against impulsive spending. Using the information she learned through the extension program, Debi made a plan: chip away at the debt, starting with the credit cards with the highest interest. Then move on to the next card and then the next. While paying off her credit cards, she worked diligently not to incur any additional debt. “I wrestled against the impulse to spend money on going out to eat and buying little things as fiercely as I had wrestled against the urge to smoke years ago,” Debi told us. She took the America Saves pledge. With her renewed commitment to her financial health, Debi changed her spending habits, and she started to pay down her debt.
Debi’s #1 Savings Tip:
Impulse purchases are emotional decisions. To combat impulse buying take a lap around the store. Spend 30 minutes or more to think about your purchase. This will help you make a thoughtful decision and not an emotional one.
Seeing her debt go down was the snowball that started an avalanche of saving. Debi took pride and joy in her improved financial health. She recalled, “I found satisfaction in not giving in to impulses, but making wise choices, thinking through my options. I still went out to eat, but not 20 times a month, and I found it more enjoyable.” It took quite some time, but Debi eventually paid off all her credit cards. With her debt gone, Debi’s credit score rose dramatically, and eventually she saved enough to purchase her first home.
Debi didn’t stop there. She set new financial and savings goals. She maintained her hard-won healthy spending habits. We asked Debi how her savings habit has affected her life: “Not only has eliminating credit card debt relieved stress, working on my savings goal has empowered me to realize I have more control over decisions. There is a humble pride in being responsible and focused. It’s actually FUN!”
Debi recently took the America Saves pledge again. She is building an emergency fund and is only a few hundred dollars away from her goal!
CHECK OUT OTHER SAVINGS JOURNEYS FROM SAVERS JUST LIKE YOU
Saver Story: Set a goal, make a plan!
By Shannon
We've chosen Shannon as our Saver of the Month! Her approach to saving for her family’s dream home is a great example of how #ThinkingLikeASaver can look different for everyone, but has great payoffs and rewards.
Another Dream Realized
By Mary Brown
Mary Brown was already a disciplined individual when she came to Wisconsin Saves coordinator Wisconsin Wo...
Taking Steps Toward Financial Fitness
By Nicky Vasquez
Nicky Vasquez learned about Virginia Saves when she attended her first class with Bank On Virginia Beach....
Budget like Nohemi
By Nohemi
Nohemi found out about America Saves a few years ago as an undergraduate at the University of Illinois at...
Saving Early: Key to Successful Future
By Johnnie Lovett
For Johnnie Lovett, a Young Illinois Saver, saving has been a habit since he was a teenager. “As a teenag...
Saving With My Boys
By Kelly
Kelly has made saving a family effort. She started her boys saving early. “Probably 3,” Kelly told us, “when I started encouraging them to save because that’s when they started receiving small bills from family on the holidays.”
Saving for a Bright Future
By Kristin Hendricks
Kristin Hendricks, a single mother from Texas, understands the importance of saving money and following a...
Coping with a Lost Job
By Aimee Shaffer
Aimee Shaffer worked as a Public Service News Director for radio for years until one day her employer dow...
Taking Steps Toward Financial Fitness
By Nicky Vasquez
Nicky Vasquez learned about Virginia Saves when she attended her first class with Bank On Virginia Beach....
A Think Like A Saver Attitude
By Melissa
Melissa has always been thrifty with a #ThinkLikeASaver attitude. This served her family well when her hu...
A Think Like A Saver Attitude
By Melissa
Melissa has always been thrifty with a #ThinkLikeASaver attitude. This served her family well when her husband lost his job in 2014. Using their savings, Melissa’s family stayed afloat while her husband found a new job.
Saving With My Boys
By Kelly
Kelly has made saving a family effort. She started her boys saving early. “Probably 3,” Kelly told us, “when I started encouraging them to save because that’s when they started receiving small bills from family on the holidays.”
Don’t Laugh at Saving Spare Change
By Brittany
Virginia Saves saver, Brittany, decided to start saving again when she became a single mother. She thinks...
Saving is a Family Affair
By Jeff
Saving is truly a family affair for Jeff’s household. During America Saves Week 2019, he pledged to save ...
Jump-Starting a Financial Makeover
By Nichelle Johnson
Nichelle Johnson, a single mom with two teenage children, knows what it’s like to stretch a dollar. When ...
A Think Like A Saver Attitude
By Melissa
Melissa has always been thrifty with a #ThinkLikeASaver attitude. This served her family well when her hu...
Saving With My Boys
By Kelly
Kelly has made saving a family effort. She started her boys saving early. “Probably 3,” Kelly told us, “when I started encouraging them to save because that’s when they started receiving small bills from family on the holidays.”
Put 20 Percent Away
By Melissa
“I am a single mother, and I make ends meet for me and my daughter, but I wanted to put money away for my...
Saving is a Family Affair
By Jeff
Saving is truly a family affair for Jeff’s household. During America Saves Week 2019, he pledged to save ...
Starting and Continuing a Personal Finance Journey
By Kiara Hardin
When Kiara Hardin, now a junior at Western Illinois University, became an intern with the Chicago Summer ...
Budget like Nohemi
By Nohemi
Nohemi found out about America Saves a few years ago as an undergraduate at the University of Illinois at...
Savings #ImSavingForSweepstakes
#ImSavingFor Winner Story
By Pedram R.
America Saves awarded one lucky saver, Pedram R. from California, $750 for sharing his #ImSavingFor story. Pedram said, “Saving is important to me because it proves I am not willing to buy unnecessary things to please others or to be perceived as successful.”
Saving is a Family Affair
By Jeff
Saving is truly a family affair for Jeff’s household. During America Saves Week 2019, he pledged to save for retirement. But making a commitment and creating a plan to save isn’t a new concept for him.
Inspired to Build Savings By Starting Small
By Sharon
With little-to-no money in the bank and living on a limited income with her adult daughter, Sharon wasn’t sure if building up savings for her future was even possible.
Developing a Savings "Game Plan"
By Eunice Diaz
Eunice Diaz, a teacher in Colorado Springs, had been noticing a pattern. Despite the fact that she and he...
Taking Back Control Over Finances
By Nadine Bialo
After becoming a Virginia Saver and getting help from BankOn classes and coaching, Nadine Bialo took back...
Getting Out of Debt
By Tonya Shelton
In 2004, Tonya Shelton was facing financial ruin. Barely making more than minimum wage and having lost he...
Getting Out of Debt
By Tonya Shelton
In 2004, Tonya Shelton was facing financial ruin. Barely making more than minimum wage and having lost her home to an unexpected family crisis, Shelton and her family were forced to live in a rundown hotel.
If we feature you in our newsletter, you get $50.
You May Also Be Interested In...
Take the America saves pledge
Make a pledge to yourself and create a simple savings plan that works. Complete the Pledge and America Saves will send you short email and text reminders, resources and tips to keep you on track towards your savings goal. Become part of an entire community of savers. Get started now!
creative ways to fund your savings
Those with a savings plan are twice as likely to save successfully. Taking the America Saves Pledge is a pledge to yourself to start a savings journey and America Saves is here to encourage you along the way. Take the first step toward creating a better financial future. Make a plan, set a goal, and pledge to yourself to start saving, today.
Congrats on completing the pledge!
Congrats on completing the pledge!
We are so glad you have started your savings journey and Military Saves will be right beside you the whole way! You will soon receive an email from the Military Saves team to help encourage you. Find helpful links below to continue researching topics on saving.
Take the America Saves Pledge
Make a pledge to yourself and create a simple savings plan that works.