What does financial literacy mean to you? Is it knowing how to do your taxes, budgeting well enough to have extra spending money each month, paying off your loans in a certain time or simply having a bank account? There are many free resources available online on a wide range of financial topics; all you need to do is take the time to look and educate yourself. UWATX has many resources available on our own website including: Bank Locator Tool Answer a few questions to find the perfect bank or credit union for you, complete with locations to help you get started. Financial Toolkits Our toolkit contains tips and worksheets on the following topics: Filing taxes How to repair your credit and manage debt Everything you need to know before you take out a loan How to open a bank account and set up direct deposit Financial Classes Locator Check out free upcoming financial classes near you to improve your skills. Additionally, check out these other great resources to meet your financial literacy goals: 360 Degrees of Financial Literacy 360 Degrees of Financial literacy is a national volunteer effort from America’s Certified Public Accountants to help residents understand their personal finances and develop money management skills. It focuses on financial education as a lifelong endeavor and contains tips dependent on your current situation, whether you’re a college student, young couple, divorced, etc. They have a huge range of topics covered from caring for aging parents, investing basics, sudden wealth, saving for […]
Read MoreSavings Program Pilot Shows Positive Results
Did you know that one-third of Austin residents are classified as low-income? United Way for Greater Austin’s Financial Stability program helps those who are struggling get the guidance they need through three targeted core strategies: learning, saving and thriving. We recognize that in order to create community-wide changes, individuals and families struggling to become financially stable need the help and support of agencies, social workers and volunteers. The national Corporation for Enterprise Development (CFED) supports UWATX’s Financial Stability program and sought to develop a workplace-based savings program for low-wage employees. The savings program helps them save a portion of their paychecks through direct deposit through their employer. UWATX partnered with Open Door Preschools to implement a pilot of this workplace-based savings program and then worked with consultants from OpportunityTexas and Raise Texas to help evaluate the program. The goals of the pilot program were to get employees to sign up for a savings account if they did not have one and to also sign up for direct deposit. Although the savings program is still ongoing at Open Door Preschools, the pilot phase was eight weeks long and had three components aimed to decrease barriers to signing up: 1) Employees were prepared – Employees initially learned about the savings program through an email from their executive director. The email included information on what the employees needed to bring to prepare for the meeting. 2) Employees attended a facilitated meeting – Through a facilitated kickoff meeting at each preschool location, the executive director gave employees an opportunity […]
Read MoreCity of Austin saves $7200 thanks to Bank On Central Texas
As one of Austin’s largest employers, the City of Austin is setting a strong example about how employers can empower their workers: over 350 City of Austin employees have switched to using direct deposit to deposit their paychecks thanks to Bank On Central Texas, a collaboration between United Way Capital Area and PeopleFund. This move will save the City more than $7200 in fees annually and save each employee who switched nearly $150 every year. “We’re supporting employers to help them make the best financial decisions for their employees,” said Jill Shah, Director, Financial Stability at UWCA. “Using direct deposit is an easy way for both parties to get more out of their dollars.”
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