Celebrate America Saves Week by Saving Cash and Building Credit

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What would you do with an extra $300.00? For less than $30.00 per month in savings for the rest of the year, you can find out. Guidewell Financial Solutions, an accredited, nonprofit financial counseling agency is celebrating America Saves Week – starting Monday, February 26 – with access to its Justine Petersen “Save2Build” program. 

America Saves is a weeklong Consumer Federation of America campaign promoting good savings behavior and a chance for individuals to assess their own saving status.

The campaign asks individuals to pledge a monthly savings amount because, they say, people with a plan save more successfully. Guidewell Financial’s Justine Petersen “Save2Build” program offers clients an opportunity to do just and more: save with monthly payments and simultaneously build credit.

Under the “Save2Build” program, clients make monthly payments of about $26.00 over 12 months to a locked savings account, and then receives the $300.00 saved at the end of the term. In the interim, every record of payment is shared with major credit reporting companies to build the client’s credit score over time.

“Consumers with higher credit scores may save up to $250,000 in interest and fees during their lives, so we know that credit score can directly impact how someone is able to build up a savings,” said President and CEO of Guidewell Financial, Helene Raynaud. “America Saves Week helps more communities understand healthy financial behaviors – like monthly automatic or recurring savings – which is the foundation that the ‘Save2Build’ program was built on. Monthly savings open the door to financial opportunity and fiscal well-being.”

Guidewell Financial Solutions works with individuals and families privately to develop a budget, figure out financial options, and even negotiate with creditors to repay debts. Guidewell Financial can help individuals reach their savings goals by reviewing budgets to find room to save, making recommendations on how to supplement income, and more. For more information about Guidewell Financial Solutions or the Justine Petersen “Save2Build” program, please contact Katie Kristensen, creditbuilding@justinepetersen.org.

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