Saving money seems like a simple concept, but it’s challenging for some people.
It’s a good idea to save to be ready for major life changes, such as getting married and attending college, as well as unplanned events.
To mark Financial Literacy Month in April, here’s some advice on saving and investing from the U.S. Financial Literacy and Education Commission:
- Pay yourself first
- Open and keep an account at a bank or credit union that best suits your needs
- Plan for short-term and long-term goals
- Save for retirement
If you’re a Federal Employees Retirement System employee and you put 5 percent of your income into a Thrift Savings Plan (TSP) account, the Postal Service will contribute an additional 5 percent. This means you’ll have twice as much going into your TSP account as you originally contributed.
The Wellness LiteBlue page has additional information on financial literacy.