DIFS Encourages Michiganders to Set Savings Goals During America Saves Week

Media Contact: Laura Hall, 517-290-3779, [email protected]
Consumer Hotline: 877-999-6442, Michigan.gov/DIFScomplaints

FOR IMMEDIATE RELEASE: April 8, 2024

(LANSING, MICH) America Saves Week is April 8-12 and the Michigan Department of Insurance and Financial Services (DIFS) is participating by encouraging Michiganders to check in on their finances and highlighting key areas that contribute to financial stability and wellness. America Saves Week is an annual campaign during which thousands of organizations nationwide join together to promote setting financial goals and increasing financial knowledge.

"As part of our mission, DIFS is committed to supporting Michiganders as they improve their financial wellness by setting savings goals and making plans to meet those goals," said DIFS Director Anita Fox. "America Saves Week is a perfect time to review personal and family budgets and find ways to save. One of the best ways to build toward financial security is by setting a clear and achievable savings goal, which can help foster positive saving habits and better prepare you for a major life milestone or financial emergency."

Each day of America Saves Week will have its own theme that touches on one of five important areas of financial wellness:

• Monday, April 8 - Saving Automatically
• Tuesday, April 9 - Saving For The Unexpected
• Wednesday, April 10 - Saving For Major Milestones
• Thursday, April 11 - Paying Down Debt Is Saving
• Friday, April 12 - Saving At Any Age

One way Michiganders can start building their savings is by opening an account with a bank or credit union if they do not already have one. Through the Michigan Open Account Coalition, a partnership between DIFS and participating banks and credit unions, Michiganders can get access to critical financial services and build stronger financial futures through certified low- or no-cost accounts with no hidden or surprise fees. These accounts are user-friendly, easy to understand, and can help consumers on the path to financial security by providing the benefits of a relationship with a financial institution. For more information, visit Michigan.gov/DIFSOpenAccount.

Throughout America Saves Week, DIFS is sharing content on X, Facebook, and LinkedIn to highlight the importance of saving and to offer motivation for individuals and families to start or continue saving for their goals. There is also a wealth of personal finance resources on the State of Michigan's Financial Literacy page.

Consumers who have questions or disputes that cannot be directly resolved with their financial institutions can contact DIFS Monday through Friday 8 a.m. to 5 p.m. at 877-999-6442 or file a complaint online at Michigan.gov/DIFScomplaints.

The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, X, or LinkedIn.

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