Do you all remember my post from way back in June last year, when I talked about why financial health matters to me? That post won me a free trip to FinCon in Dallas last October. It was a great opportunity for me to reconnect with lots of other financial bloggers, meet new members of the financial media, and connect with an amazing nonprofit, EARN.
Here we are six months later in the new year. This time of year presents a great opportunity for us to revisit the topic of financial health and savings.
Matched Savings Accounts
EARN–the nonprofit I met at FinCon–is all about savings. For the past 15 years, EARN has been the largest national provider of matched savings.
What is matched savings, you ask?
It means that EARN pays you to save money. Believe it or not, there isn’t a catch. EARN is a nonprofit dedicated to helping working Americans build a strong financial future and financial stability.
Here is the story of just one of the many people they have helped:
Since I met them in October, I’ve been exploring all the different paths to savings EARN offers. My favorite is a FREE online program called SaverLife, which rewards you for setting aside money in your own savings account. Even if you’ve never saved before, or have only ever set aside a few dollars here and there, SaverLife is a great way to kick-start and grow your savings in just six months.
All you have to do is commit to saving $20 or more in your own savings account a month and SaverLife will reward you with a $10/month match for six months. Save for your children’s education, your emergency fund, your next vacation—the sky’s the limit. You choose whatever goal you want. EARN’s matched incentives help you build a savings habit as you watch your bank account grow.
To participate, you will need:
- An email address
- An account at a bank or credit union you use for savings
- Access to your savings account online
There are no income limits. There are no fees to get started. Getting set up with SaverLife is 100% free, and gives you a financial incentive to get those dollars into your savings account.
Committing to Saving Your Tax Refund is Winning
With the massive identity theft that has happened in the past year, it’s incredibly important to file your 2017 tax return as quickly as possible so that no one else gets your refund or files a fraudulent return in your name.
Also important is using your tax refund dollars wisely. Rather than spending every last one of them, I’d encourage you to set at least a portion of your refund aside to put in savings.
EARN encourages you to do the same thing. Simply take the pledge and save at least $50 of your tax refund and you’ll automatically be entered to win one of fifty weekly $100 prizes via their Savers Win campaign. If you’re willing to tell your financial story, you’ll be entered to win a $5,000 grand prize, too.
It’s the new year. Let’s get it started on the right financial foot. Save some of your tax refund. And get paid for saving your own money by signing up with SaverLife.