February 10, 2014

Department of Banking Promotes America Saves Week and Military Saves Week
Financial Education Expo Encourages Smart Saving

America Saves Week, sponsored by the Consumer Federation of America, is an annual campaign to promote good savings behavior.  This year the campaign runs from February 24 through March 1, 2014.  The Connecticut Department of Banking is using this opportunity to encourage consumers to focus on saving and smart investing.  This week is also Military Saves Week, which encourages the military and their families to save money and build wealth.

“It is important to save for a secure retirement, and one of the most effective ways to save is automatically.  Payroll deduction is a great way to do this,” said Banking Commissioner Howard F. Pitkin.  “When it comes to spending, make sure you are able to pay your credit card bill in full each month to avoid interest charges, and pay on time to avoid late fees.”

To help promote America Saves Week and Military Saves Week, the agency has planned a financial education expo on Thursday, February 27, 2014, from 10:00 a.m. to 1:00 p.m. at the Legislative Office Building in Hartford.  The expo will feature exhibitor tables promoting financial education programs, smart saving and investing, budgeting and more. 

The Department of Banking’s website includes a section dedicated to consumer information and education and provides free online investor education resources to help investors evaluate the risks of various investment opportunities and spot the red flags of fraud.  Specific publications and resources are geared toward military service members and their families. 

The Department of Banking is a proud partner of the Consumer Federation of America’s America Saves Week, which aims to promote personal savings and improve financial education. For more information visit www.americasavesweek.org and www.militarysaves.org