Campus Life

'Utah Saves' Week Focuses on Building Wealth, Not Debt

The Utah Saves program is helping Utahns realize they don’t have to be rich to build wealth. The simple message of the Saves Campaign is to help people create lifelong financial security by building wealth, not debt.

Through Utah Saves Week, Feb. 24-March 2, Utahns are encouraged to take financial action and make commitments to save, invest and build wealth. During the week, so-called “Utah Savers” are being rewarded with free events across the state.
 
“We are all smart people and know what we should be doing to save money, but most aren’t doing it,” said Ann House, Utah State University Extension bankruptcy prevention educator. “We have the information telling us to save and to stay out of debt, but we are still not doing it. What we need isn’t more information. We need a campaign that targets attitudes, perceived customs and control in making the change, and we need social support.”
 
Utah Saves, an initiative of Utah State University Extension, United Ways of Utah and dozens of other community partners, is a free service to any Utahn. The program offers free e-newsletters, tips and tools to help consumers set goals and develop strategies to reach them, and “wealth coaches.” The goal of Utah Saves is to promote greater household savings and reduce debt, thus building wealth.
 
Any Utah resident who agrees to work toward a savings goal such as retirement, home ownership, school tuition or debt repayment can be a Utah Saver, said House.
 
“Utah Savers set a savings goal of as little as $10 per month and try to save their personally set amount each month,” she said. “More than 5,000 Utahns have pledged to save over $660,000 a month. Utah Savers are paying off their debts and saving to reach their financial goals.”
 
Free classes and activities are being held in many Utah locations. Visit the Utah Saves Web site, or dial 2-1-1 for a listing of local events. 
 
Writer: Julene Reese, 435-797-0810
Contact: Ann House, 801-468-2846 or Lesley Scruggs, 801-468-2520

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