At Ohio’s 529 Plan, CollegeAdvantage, we believe that all types of savings are critical for your family’s overall financial success, in addition to education savings. This is why we are a proud supporter of the 2024 America Saves Week, which runs from Monday, April 8 – Friday, April 12. This year’s theme highlights what most households' goals – Saving For What Matters Most.
Since 2007, America Saves Week has motivated and encouraged individuals and households to develop good saving habits and build a better financial future. America Saves is an organization, managed by the Consumer Federation of America (CFA), which is dedicated to helping individuals save money, reduce household debt, and build wealth.
A key component of America Saves Week is the America Saves Pledge. With it, a participant chooses what goal for which they would like to save, set their money goal, and create a plan to reach it. Pledge participants will receive resources and tips to stay on course on their savings goals. This annual event promotes savings as the key component for a more secure financial future.
America Saves Week will focus on a different theme each day. By the end of the week, participants will have learned how to set short-term savings goals, like building an emergency fund, and long-term goals, like saving for retirement. Additionally, participants can learn techniques on how to boost their financial education to shape their savings strategies and how best to save as a family.
The daily schedule is:
Monday, April 8 — Save Automatically
Tuesday, April 9 — Save for the Unexpected
Wednesday, April 10 — Save For Major Milestones
Thursday, April 11 — Paying Down Debt Is Saving
Friday, April 12 — Save At Any Age
Like all these participating organizations, Ohio’s 529 Plan encourages you and your family to set a financial goal together, create a plan to achieve it, and then save automatically to reduce the possibility that you might spend the money elsewhere. Saving for the unexpected gives you a cushion for when your furnace suddenly stops working at the beginning of winter, or if your car needs more than just an oil change. And when you save as a family and everyone is on board the budgeting plan, there are no limits to what you can achieve together. Ohio’s 529 Plan has some ideas how you can teach your children about money and saving.
If one of your long-term savings goal is paying for your children’s education or career training after high school, visit Ohio’s 529 Plan, CollegeAdvantage, to learn more about the benefits of saving in a 529 plan. These include tax benefits, the fact that you can save in Ohio’s 529 Plan and use those funds tax-free to pay for qualified higher education expenses at four-year colleges and universities, two-year community colleges, trade, technical or vocational schools, and a certificate programs that have a Federal School Code on the Free Application for Federal Student Aid (FAFSA). 529 plans can also be to pay for certain costs at apprenticeship programs registered with the Secretary of Labor’s National Apprenticeships Act.
Since 1989, Ohio’s 529 Plan, CollegeAdvantage, has been helping families across the nation save for their children’s education and career training after high school. Ohio’s 529 Plan covers qualified expenses at any four-year college or university, two-year community college, trade or vocational school, apprenticeship approved by the U.S. Labor Department, or certificate programs, or continuing education classes nationwide that accepts federal financial aid. Learn, plan, and start for as little as $25 today at CollegeAdvantage.
