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The Sandy Spring Way

How I Became a Lifelong Saver

May 30th, 2013 | By Sandy Spring Bank

How I Became a Lifelong Saver
by Joannene Hudak, Contest Winner

Financial Literacy MonthSaving was a big thing when I was growing up in the 1950s and 1960s. My parents were teenagers during the Great Depression, so SAVE YOUR MONEY was a family mantra. My uncle (behind the counter in the above photo) worked at the Stanton Federal Savings & Loan Association in Pittsburg, PA. To the left are my mother and I making a deposit around 1965, the S&L’s five-year anniversary. The S&L used to hand out rolls of Life Savers – lots of metaphors there!

Well, I became a lifelong saver. If I came into money, maybe from gifts from relatives for holidays or birthdays; or later, my babysitting earnings, I had a plan: I could spend 25% of it on myself immediately – new clothes for my (one) Barbie doll, a new outfit for myself – or I could put it aside for my future “wheels.” Fifty percent went to my savings account for the “rainy day fund.” The last 25% was to share. It might go into the church collection plate, or towards a new toy for a local charity’s Christmas collection.

As an adult, one of the best methods I found, when it was available, was a payroll deduction. If the funds weren’t in my wallet or very easily available to me, I found that I spent less. And my savings certainly came to my rescue many times over the years when I was between jobs, when I moved to Maryland, and now, for my approaching retirement!


Last month we celebrated National Financial Literacy Month by offering our readers a chance to share their stories with us. Each week, one winner was selected to receive a $100 VISA® Gift Card and have their story published on our blog. This is the fourth and final entry in this story series. The first three entries can be found here, here, and here. Thanks to Joannene for sharing her story with us!

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