Special Edition Special Edition 2018 University of Florida IFAS Extension Orange County Family & Consumer Sciences Newsletter Also in This Issue: We’re On The Web! http://orange.ifas.ufl.edu 6021 S. Conway Road Orlando, FL 32812 407-254-9200 Living Well in Orange County Florida Saves Week! 2 Help Children Save 2 Florida Saves Week! Editor : Jenny Rodriguez Prepared by: Jenny Rodriguez By Jenny Rodriguez That $100 you tuck away is not much now, but consider this: if you saved $100 each month for a year, you’d have $1,200 in your bank account. That’s a good financial cushion that can keep you afloat when the unexpected happens. Another strategy is to review your budget and cut down on small expenses that you won’t notice individually but add up significantly. Turn the thermostat down a degree or two, clip some coupons, and cancel unnecessary services or memberships. For more Information visit www.FloridaSaves.org Savers with a plan can be over twice as likely to save successfully for things like retirement. Start your savings habit during Florida Saves week by creating a simple savings plan when you take the Florida Saves Pledge for a chance to win up to $750. Money Management Tips Florida Saves Week: Build your savings a little at a time It’s tax time, and many of us will be seeing refunds checks soon. Time to celebrate! It’s also a time to reflect on what you will do with all that extra cash. Here are some quick considerations before you make a decision: Track your expenses; Identify spending leaks Identify needs vs. wants Establish written financial goals Develop a spending-savings plan One area to consider are any medical bills. But after that, let’s say you have some money left over. What then? Think about putting those extra dollars in a savings account. Or, if you don’t have a savings account, open one. Even if it’s just $100, that first deposit could be the start of a lifelong savings habit. Why is it important to save? To answer this question consider your circumstances today and right now. Are you a busy par- ent running from work to multiple after school activities with your kids? Or are you a College student navigating your way through college life, rationalizing whether or not to purchase that $100 book you need for your Chemistry class? Or perhaps your spouse has just been laid off from work? Do you find yourself without trans- portation because your car needs some ma- jor repairs? These little emergencies come up all the time. Our attitudes and habits related to money will provide the key to our finan- cial and life success.