America Saves Blog
Tips, advice, and the latest news from the savings world.
January 4, 2012
Financial New Year’s Resolutions are hard to keep. That’s why America Saves, a national initiative that encourages individuals and families to save money and build personal wealth, has partnered with SaveUp, the nation’s first free rewards program for saving money and reducing debt, to offer $1,000 towards a savings account to help jump‐start one saver’s 2012 savings goals. The winner will be chosen on January 31, 2012.
How to Enter
To be eligible for a chance to win the $1,000 savings prize, or any of SaveUp’s other exciting rewards, new and existing America Saves users must register at www.americasaves.org/saveup. SaveUp is available for free to Americans who bank at more than 18,000 US financial institutions.
Learn More About SaveUp
Have questions about what SaveUp is or how it works? Visit this SaveUp FAQ page.
January 3, 2012
Thank You to everyone that joined America Saves in 2011. Not a member? Join today. 2011 was a big year for us with the launch of our redesigned website and blog. We can’t wait to bring you more tips, advice, and motivation to help you save in 2012. In the spirit of year-end wrap-ups, below is a list of the top 10 blog stories on America Saves from 2011 (calculated by number of hits).
- 5 Ways to Save Money on Groceries (Guest post from WiseBread)
- Keeping Track of What You Spend and Budgeting
- Don’t Increase Debt During the Holidays
- What’s Your Number? Online Retirement Calculators
- Loan and Learn (Guest post from Awesome Island)
- Nation’s Top Consumer Complaints
- The Hardest Part About Getting Out of Debt
- Save on Heating and Cooling Your Home (Guest post from Money Talks)
- Five Ways You Can Save $100 or More
- Make Saving Automatic
December 28, 2011
We do a lot of overindulging during the holidays. We take an extra day off work, eat an extra piece (or two) of pie, and sometimes charge more than we can afford on our credit cards. With the holidays nearing an end, and post-holiday credit card bills rolling in, it’s time to create a plan to pay off any debt we may have incurred during the holidays.
Cut Back on Spending – The first step in getting out of debt is to stop borrowing. If you overspent during the holidays you need to cut back your post-holiday spending. It may help to cut up your credit cards or lock them away in a safe place.
Make a budget – Cut out any expenses you can and plan to pay off your debt as quickly as possible. While you are making a budget, figure out the most you can afford to pay each month to reduce your debts, then make those payments without fail.
New Financial Education Guide for VITA Programs and Their Clients
December 23, 2011
By to Leigh Tivol, Director of Savings & Financial Security at CFED
The Earned Income Tax Credit (EITC) is one of the nation’s largest anti-poverty programs. The EITC reduces the tax burden on workers, supplements wages, helps low-income families build assets and reduces income inequality. Annually, the EITC helps 6.6 million Americans move out of poverty; half of these are children. In 2010, over 26 million workers received nearly $59 billion in EITC. The average credit was $2,100, but can be as much as $5,751, depending on the worker’s income, marital status and whether they have children.
Awareness is critical. Only four out of every five eligible taxpayers claim and receive the EITC. Ideally, all eligible taxpayers would claim their EITC. The IRS, Center on Budget and Policy Priorities (CBPP) and countless other nonprofit and community-based organizations have mounted campaigns to make sure that eligible taxpayers know they can claim this credit.
Making sure that affordable tax assistance is available to these families is equally important. The IRS, numerous foundations and community organizations also support programs that provide free tax assistance to low- and moderate-income families. Volunteer Income Tax Assistance (VITA) programs, for instance, offer a valuable service to working Americans by helping them keep more of their hard earned money, especially if they quality for the EITC.