Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger recently announced that the bureau is launching an initiative aimed at helping consumers struggling financially by educating them on better saving habits.
The “Start Small, Save Up” initiative offers tips, tools and information to help consumers build a basic savings cushion and saving habit, as a foundation for securing their financial futures, according to a CFPB press release. The Federal Deposit Insurance Corp. also weighed in on the benefits of good savings habits.
The announcement coincides with America Saves Week, which is Feb. 25-March 2. Read on to learn more about what the agencies had to say.