Montana State University

Track'n Your Savings helps organize financial goals

February 22, 2011 -- MSU News Service

Subscribe to MSU Newsletters


Bobcat Bulletin is a weekly e-newsletter designed to bring the most recent and relevant news about Montana State University directly to friends and neighbors via email. Visit Bobcat Bulletin.

MSU Today e-mail brings you news and events on campus thrice weekly during the academic year. Visit the MSU Today calendar.

MSU News Service
Tel: (406) 994-4571
msunews@montana.edu
Montana State University Extension has a new system for tracking progress towards achieving financial goals. The system is designed for those who want a simple way to track savings without having to spend a lot of time and hassle doing it. Track'n Your Savings Goals register is a "paper and pencil" system that can be adapted by computer "techies" who prefer to track their savings goals on their computers or other handheld devices. The system allows the user to see the amount accumulated towards each savings goal.

The first step is to decide on savings goals: a widescreen TV, new computer, college or retirement fund. The decision of what to save for and how much to save is an important part of the personal and family financial planning process. Each family member is encouraged to have a separate Track'n Your Savings Goals register so he or she can track progress towards achieving specific savings goals. Another register can be established for tracking progress towards achieving family savings goals.

The Track'n Your Savings Goals register has many advantages for those who have used the system. One user reported that she found the system "amazingly simple." She filled out the register as a part of her weekly savings routine. Another wrote she liked the immediate decision-making opportunities.

"Yes I could spend that $100 on fancy sneakers or I could buy cheaper ones and put the $50 difference towards our goal of a family vacation next summer. If we save the money, that will raise our total to $350. I liked the visual reward that I could see in the Savings Register," the user said.

In recognition of America Savings week, February 20 - 27, and thanks to funding from the Montana Credit Unions for Community Development and First Interstate Bank System Foundation the savings registers are available free to Montanans. To order, visit the MSU Extension store at: www.msuextension.org/store or request a copy from your local County Extension office.

Marsha Goetting (406) 994-5695 or goetting@montana.edu