Meet Mike: Two years ago, Mike was working full-time at Levi’s, paying his way through college. Already overwhelmed with work and study, he was stressed about paying his college tuition. One day at Levi’s, he learned about the Red Tab Savers Program – an online platform created in partnership with EARN offered to LS&Co employees to help them start saving money.
Mike realized that savings could help him accomplish his own dream of being one of the first people in his family to graduate from college. He says, “I had been putting aside some money, but the Red Tab Savers Program made me realize that I should start saving more for both my college tuition and emergencies.” He immediately decided open a new savings account so he could join the Red Tab Savers Program and kickstart his savings.
The Red Tab Savers Program taught Mike to be proactive. “I loved the encouragement. The rewards were very motivating. I would make a plan for my paychecks so I would be able to save. It was all so easy. I set up automatic savings deposits and would use my cellphone to go online and check in on my savings once a week. Plus, knowing I had savings to pay for things like books and transportation to class relieved a lot of stress. I saved $300 of my own money and was matched $300, allowing me to put those savings towards educational expenses not covered by tuition.”
Two years later, Mike reflected on how the Red Tab Savers Program helped him learn the importance of investing in himself and his future. “I’ve started to think about how I can make my money work for me, beyond just putting aside savings in my personal savings account," he says. "I began considering 401(k) options through Levi’s and plan to start saving for retirement soon. I want to continue learning more about my finances.”
Mike still works at Levi’s. He’s also graduated from college and is now pursuing a master’s degree. Mike uses the savings habits he learned to continue to save for his education. He’s confident he’ll reach his long-term goal – to earn a Doctorate degree in Physical Therapy.
Mike is an inspiration to other employees at Levi’s. His colleagues often ask how he accomplishes going to school and working. Mike credits both his work ethic and savings habit. He encourages other LS&Co employees to get involved with the Red Tab Savers Program. “The Red Tab Savers Program is a great way to start thinking about savings,” he says. It helps you develop good financial habits early on.”