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Tips, advice, and the latest news from the savings world.

Disables Person who can save

Saving is an option for individuals with disabilities

Written by Guest Blogger · 21 August 2019

AUTHOR: By Michael R. Roush, Director, Real Economic Impact Network, National Disability Institute

Oftentimes, individuals with disabilities may not be familiar with savings options that are available to them or they may be afraid to save money due to the fear of jeopardizing public benefits. There are a wide variety of saving strategies that individuals with disabilities can potentially access to achieve their savings goal and build their financial well-being.

38 Reasons You Need At Least a $500 Emergency Fund

Written by Kia Young · 05 August 2019

The age-old saying,” When it rains it pours” is especially true when an unexpected emergency pops up- as if you had nothing better to do than fork out $500 on new tires, or visiting the doctor. Recently the Federal Reserve noted that almost half of Americans do not have $400 available in an emergency fund.

A New Way for Financial Coaches to Help the Unbanked

Bank Bank Accounts
Written by Lindsay Ferguson · 31 July 2019

Consumers want to build a strong financial history. From buying their first car to planning for retirement, consumers face many obstacles with ensuring they stay on the right path to positive financial health. Understanding what is in their credit report is an important first step. However, a traditional credit report only gives part of the consumer’s history.

For most banks, when a consumer applies for a bank account, the bank will not pull a traditional credit report but instead a report like ChexSystems to analyze past “banking” transaction information.

Estimates of the number of unbanked consumers who used to be banked is around 50%. Many of these individuals are no longer banked because their previous bank closed their account due to overdrafts (bounced checks). In these cases, there will be an outstanding amount due to the bank, which appears on the ChexSystems report. Most banks will turn down a potential new customer, if such a negative appears.

Non-profit financial coaches express frustration when this happens, since their client becomes discouraged and is often embarrassed by being turned down. Wouldn’t it be better if the financial coach could access this report before the consumer visits the bank, in order to identify negatives, such as past due amounts. Then they could work out an action plan with their client in order to address the negative and increase their odds of being approved by the bank.

Last September, Credit Builders Alliance (CBA) added ChexSystems' ChexAdvisor Educational Report to our Access service, and so far it has been a great success with many of our non-profit members. It has helped them expand their product offerings to serve a wider variety of client needs, such as access to banking services.

An example of this success is found with Ms. Tee:

After attending a Working Credit workshop, Ms. Tee told her counselor she had a high fee, pre-paid debit card but really wanted to open a checking account. She had tried a while ago, but was denied due to a debt owed to a financial institution, and was afraid to reapply. Her Working Credit counselor pulled her ChexAdvisor report through ChexSystems and discovered that she actually had no red flags on her ChexAdvisor report. Her counselor explained her report to her and recommended some low-cost checking accounts near her home and work.

This is just one example of how ChexAdvisor can help you serve your clients more comprehensively. For more information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Written by: Credit Builders Alliance

America Saves and AFCPE® Connect to an AFC Pilot

America Saves Week AFCPE AFC America Saves Pledge
Written by America Saves · 26 June 2019

During America Saves Week 2019, America Saves and the Association for Financial Counseling & Planning Education® (AFCPE)® collaborated and launched the Connect to an AFC® pilot. The pilot connected over 50 individuals to Accredited Financial Counselor® (AFC®) professionals across the country.

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Savers who make a plan are twice as likely to save successfully. 

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Tip of the Day

  • Written by Administrator2 | January 13, 2014

    Never purchase expensive items on impulse. Think over each expensive purchase for at least 24 hours. Acting on this principle will mean you have far fewer regrets about impulse purchases, and far more money for emergency savings. http://ow.ly/sj972

Saver Tips and Stories View all »

Another Dream Realized

Written by Tammy G. Bruzon | November 7, 2014

Mary Brown was already a disciplined individual when she came to Wisconsin Saves coordinator Wisconsin Women’s Business Initiative Corporation (WWBIC) in last summer. She had successfully completed her bachelor’s degree with the assistance of her husband and son, and was now ready to tackle her next big dream – homeownership.

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Story of an Urban Professional

Written by Lindsay Ferguson | June 26, 2019

Elaine was inspired to create a new savings goal and plan with the America Saves Pledge after reading the “The Color of Money” column in The Washington Post by Michelle Singletary.

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Saving With My Boys

Written by | September 2, 2019

When Kelly was a kid, she loved the picture book A Chair for My Mother by Vera B. Williams. In the story, a little girl lives in an apartment with her mother and grandmother. The little girl’s mother is a waitress and sole provider for their family. Together the family saves money by putting their change in a giant jar every day. They are saving for a big cushy chair for the little girl’s hard-working mother. Together with patience and diligence, they buy the mother a very comfy chair.

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