Whether Saving for a Vacation, Vehicle, Home or Retirement, AAA offers 'How-To' Advice in New Online Video Series

AAA's "Building a Sound Savings Strategy" videos on MonkeySee.com urge consumers to understand and use savings products appropriate to their financial goals  

ORLANDO, Fla., March 17 /PRNewswire-USNewswire/ -- AAA -- the largest paid-membership organization in North America -- is offering consumers advice on constructing a sound savings strategy via a series of "how-to" videos available on the Internet.  The videos are intended to address America's renewed emphasis on saving money as a hedge against future expenses, as a means of paying for "big-ticket" items in an era of tighter and more expensive credit, and for retirement.

Hosted by AAA's Director of Financial Services, Bill Gerhard, the videos cover three common investment types; money markets, certificates of deposit and individual retirement accounts. Gerhard explains the advantages of each and how they can be appropriate for meeting specific savings objectives.  AAA offers members savings products with better-than-average rates at www.AAA.com/deposits . The videos are intended as introductions to each topic and are not meant to provide specific financial advice to individual consumers.

"AAA members and others are still undergoing profound shifts in their financial life. The era of easy credit has ended and rates of return have dropped to almost zero on many savings products," Gerhard said. "This makes it more important than ever to put a savings strategy in place that addresses a number of different factors, including safety, accessibility, best available rates, short-term needs and long-term goals."

The titles and descriptions of the videos from AAA Financial Services are as follows:

How to Save Money

• Introduction
• Reasons to Save Money
• Types of Money Savings Options
• How to Open a Savings Account
• Saving Money - Setting and Achieving Financial Goals

How to Invest in CDs and Money Market Accounts

• Introduction
• What is a CD?
• Comparing Savings Rates:  APR and APY
• CD Early Withdrawal, Penalties and Maturity Options
• CD Laddering
• Savings - Compound Interest and the Rule of 72
• Where to open a savings account

How to Save For Retirement Using IRAs

• Introduction
• Retirement Savings - What is an IRA
• Retirement Savings - What is a Traditional IRA
• Retirement Savings - What is a Roth IRA
• Retirement Savings - Finding a Provider
• Retirement Savings - IRA Investment Allocation Options
• Retirement Savings - Withdrawals, Rules and Penalties
• Retirement Savings - How to Roll Over an IRA
• Retirement Savings - Compound Interest and the Rule of 72

"While meeting basic monthly expenses and paying off debt are uppermost in the minds of millions of Americans right now, savings considerations should not be put off since it is only by saving that consumers are able to eliminate or reduce their need to borrow money in the future," he said.

As North America's largest motoring and leisure travel organization, AAA provides more than 51 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at AAA.com.

Stay connected with AAA on the web via:

Twitter.com/AAAnews

Twitter.com/AAAauto

YouTube.com/AAA

MySpace.com/AAAeveryday

AAA fan page on Facebook.com

AAA news releases, high resolution images, broadcast-quality video, fact sheets and podcasts are available on the AAA NewsRoom at AAA.com/news.

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SOURCE AAA