America Saves Week

By Alexandra Montgomery

March 1, 2013 Updated Mar 2, 2013 at 1:44 AM EDT

Binghamton, NY (WBNG Binghamton) If you see something this week you just have to buy, the Consumer Federation of America wants you to think again.

Thousands of banks are participating in America Saves Week, a national campaign to promote saving for the future.

Studies show that nearly half of Americans do not save enough money. It's recommended to have between three and six months of salary saved in case of an emergency.

The vice president of M&T Bank recommends setting a small goal to save each week.

"If you go out everyday for lunch maybe you could skip one or two days and bring a nice healthy lunch and save the money that you would have spent. There's painless ways to do it," said Joyce Majewski.

M&T Bank recommends setting up a savings plan, so funds are automatically transferred into your bank account.

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