
Prince William Saves
Prince William County Saves Week! Feb 24 - 29, 2020
The Prince William Board of County Supervisors
together with Virginia Cooperative Extension - Prince William
The Financial Empowerment Center
and local savings institutions encourage you to
GROW YOUR SAVINGS!
Join PrinceWilliamSaves.org Initiative
together with PWC Employees Credit Union,
Burke & Herbert Bank and United Bank
Think Like A Saver!
Saving for a rainy day, vacation, paying down debt?
You are invited to join us as we dedicate ONE WEEK
to #ThinkLikeASaver.
Take the Pledge, set your goal and receive ideas, apps and tools to help you reach your savings goals.
Take the Prince William Saves Pledge
Building Wealth Starts with
Setting Goals
Learn new easy saving strategies.
We offer financial seminars and
financial coaching!
Seminars, Coaching and Networking opportunities
Financial Coaching or Counseling - Contact Us!
Financial Coaching available day or evenings for person to-person or over the phone appointments. Virginia Cooperative Extension contact us at 703-792-6287 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Let us know you want to set up your personalized savings plan with one of our HUD certified financial counselors.
There is never a fee for financial counseling services at Virginia Cooperative Extension Prince William. We are a HUD certified agency.
About Us!
The Financial Empowerment Center at Prince William offers research-based seminars to strengthen your personal financial management skills.
- Increase your Credit Score
- Improve your financial stability
- Prepare for homeownership
- Get Ready for Retirement!
Improve your Financial Picture & Net Worth
Financial Coaching Available Daytime or Evenings by Appointment
Email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 703-792-6287 and request your no cost, financial counseling appointment. Remember, you can see us as often as you like, there is no fee for follow up appointments.
Financial Empowerment Center Services supported by:
Association of Financial Counseling and Planning Education, AFCPE;
Consumer Financial Protection Bureau
National Industry Standards for Homeownership Education & Counseling
Prince William County Office of Housing and Community Development
United Way of the National Capital Area
Virginia Housing Development Authority (VHDA)
Financial Seminars and Upcoming Events
Finding Your Extra Money; Understanding and Improving Credit Score; Smart Money Management, Getting Ready for Taxes, Savings Strategies & more
For more information or to register for upcoming seminars,
please view our calendar or visit our website.
Recent Blog Entries View all »
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5 Ways To Teach Kids How To Save At Home
We start kids young with almost everything— sports, school, so why not saving? We are always looking for new ways to #ThinkLikeASaver in the America Saves community. The earlier that you have a positive mindset around saving, the easier it is to save successfully as an adult.
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Creating a budget for your family
It’s always the right time to create a saving and spending plan (aka a budget). It’s also a good idea to revisit that plan annually or when a major shift occurs in your income or expenses.
We’ve created an easy to use, but thorough, Spending and Saving Plan tool to use. Before you get started, here are some tips to help you #ThinkLikeASaver, ensuring that your money is working smarter and harder for you.
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4 Steps to Spending Your Stimulus Check Wisely When You Don't Have An Emergency Fund
Most Americans don't have an emergency fund. While we're all experiencing this pandemic very differently — some having only minor inconveniences and others finding themselves without a job or having to close their business — those without a savings cushion are vulnerable to feeling the ramifications of COVID-19 for a very long time.
With stimulus checks on the way, there will be tough financial decisions to make once received. Here are active steps you can take, along with things to consider to help you develop a solid spending plan.
1. Make a list of all expenses
Write out every single expense that you have, including essentials like food and utilities. Be sure to go through your checking and savings account history to make sure you don't have any “vampire” expenses, like monthly subscriptions that you may have forgotten about and no longer need.
2. Talk to all creditors and lenders
The CARES Act puts into effect two mortgage relief provisions: protection from foreclosure, and a right to forbearance (pausing or making partial payments) for those experiencing loss of income due to COVID-19. However, the provisions are not automatic and are only for federal loans, so you MUST talk to your lender.
If a creditor/lender offers you a payment plan or other relief, make sure you get it in writing and take note of the names and dates of the customer service representatives with whom you speak.
Thankfully, some utility companies have announced they won't cut off services if they aren't being paid. Be sure you know all of your utility and service providers' stance on this, so there are no surprises. You don't want to make any assumptions.
RELATED: Your lender might let you miss a few mortgage payments. Three questions you should ask first
3. Prioritize expenses
Expenses relating to food, shelter, and medicine should come first. This would include mortgage, rent, utilities, groceries, diapers, and medications. It also includes medical insurance premiums and homeowners/renter's insurance.
If you need childcare to work, that is another essential expense. Next in line are auto-related expenses, including transportation, gas, insurance premiums, and car payments.
Loans that are secured by collateral (for example, mortgages and auto loans) are generally considered more important than those without collateral, like consumer credit card debt. For example, if you don't pay your mortgage, a bank can foreclose on your property; if you don't pay your car loan, the bank can seize your car. While not paying your credit card bills will negatively affect your credit score, credit card companies will not come into your house and take your personal possessions.
Federal student loans are currently not accruing interest until September 30, 2020, and can be put into forbearance so that no payments are due. If you have a private or institutional loan, you will have to contact the lender for other options.
Remember, if you can afford the minimum payments on your credit cards, then make those payments. It will help to maintain your credit score.
Expenses for "elective" items, like gym memberships, streaming services, and other subscriptions, come last. Before simply canceling a contract, make sure to contact the vendor – canceling may come with a hefty penalty, but you may be able to temporarily "pause" the service.
4. Pay your debts in the order of priority
Now that you know all your expenses, have prioritized them, and know your payment options with creditors and lenders, it's time to make the payments in order of priority.
It's important to note that we are approaching tax season, so many expect to receive their tax refunds in the coming months. If you plan to receive a refund, you can apply the same process to that extra income.
If you are still unsure or are overwhelmed with where to start, use our decision tree for guidance on what to do with your stimulus check and tax refund.
Then make a commitment to be more proactive with saving by taking the America Saves pledge. We'll be your savings accountability partner as you take a small step toward saving.
Download Decision Tree: PNG | PDF
Then make a commitment to be more proactive with saving by taking the America Saves pledge. We'll be your savings accountability partner as you take a small step toward saving.
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Pantry Shopping and Meal Planning Preparation Tips
With experts telling Americans to practice social distancing and to be ready for a possible 14-day self-quarantine one of our first concerns is food. How do we shop and prepare for 14 days worth of meals? Equally important are concerns about shopping without overbuying and staying on a budget.
Read more...