Craig Bythewood is a professor of finance and economics at Purdue University Global. In this video, he explains the importance of saving money in light of America Saves Week, an annual call to action for Americans to commit to saving successfully.
Bythewood provides tools to begin saving, using both short term and long term methods. He says the creation of calculated and organized financial goals can allow you to meet goals quickly and protect against unexpected events. To pay debt, Bythewood recommends taking the debt of highest interest first and maintaining a forward-looking mindset.
When it comes to young people and savings, he encourages adults to help youth create goals and reach them by small steps.