How Ivonne won $25,000 just by saving a portion of her tax refund
“My parents always taught us that you should spend on what you need and not what you want.”
That life lesson was on Ivonne Sonato-Vega’s mind when she filed her taxes this year at the United Way of the Wine Country’s Volunteer Income Tax Assistance (or VITA) program. A savvy saver, she makes sure to set aside some of her tax refund every year to help manage life’s unexpected emergencies.
But this time, she had some special savings goals in mind: a home for her three children and the completion of her education. Two of Ivonne’s children were born prematurely, and after becoming the first in her family to attend college, she aspires to one day graduate a nurse and work in the same neo-natal intensive care unit that saved the lives of her kids.
It’s that dream, and saving at least $50 of her tax refund using IRS Form 8888, that became the winning entry in the SaveYourRefund photo contest, and put Ivonne and her family $25,000 closer to their savings goals.
“We are thrilled to award the grand prize to someone as motivated as Ivonne. Her inspiring story reflects how saving even a small amount of money can make a decisive difference,” says Timothy Flacke, Executive Director of Commonwealth, the non-profit organization that partners with America Saves to offer the SaveYourRefund promotion.
Ivonne’s parents taught her to save from a young age in a way that paid off for her and her future. Now, she says. “I’ve done the same with my kids.”
She started small by saving a portion of her tax refund and won big, and you can start small and think big. Read more about the importance of tax time savings here. After all, over $100 billion in federal tax refunds are claimed every year, a perfect savings opportunity.
How Ivonne won $25k just by saving a portion of her tax refund: http://bit.ly/2rYq81q v/ @AmericaSaves @buildcommwealth's
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- Written by Lindsay Ferguson
- Category: Blog
- Published: 26 May 2017