Easy As PIE: December 2016

As 2016 comes to a close, we want to say a warm thank you to our community partners and donors who have made the Personal Investment Enterprise (PIE) Program possible this year. Without advocates in the community for the program, like our referral partners, and partners that provide education classes (financial education and homeownership, business and secondary education classes), PIE would not be able to provide the services that it does in Boulder and Broomfield counties.

In 2016, the following donors have made financial contributions to the program and have enriched families and individuals on their way to a more secure and economically stable future:

Assets for Independence
Bank of America Charitable Foundation
City of Longmont
“I Have a Dream” Foundation of Boulder County

U.S. Bank Foundation

This year PIE is celebrating it’s 15 year anniversary with 258 graduates who have purchased their first home, pursued post-secondary education or started their own small business. The PIE program enrolled 35 new participants this year and 82 are currently saving and taking financial education classes in the program.

PIE also joined several community partners to provide the first Thrive conference,an important resource for community members with low to moderate incomes to learn about building assets (tangible resources available to households including financial, personal, institutional and social networks of family and friends) that can be drawn upon in times of need or invested to make connections for a brighter future. In one day, families were able to build knowledge in the areas of money skills, education, home ownership, business, health, older adults and social action.

Thank you for your support of the PIE program and for making a tangible difference in the lives of residents in Boulder and Broomfield Counties. In the words of one education participant: “If I had not participated in PIE I would not be where I am today. I would not have been able to afford school.” She will graduate with her degree in architecture in April 2017.

ABOUT THE PERSONAL INVESTMENT ENTERPRISE (PIE) PROGRAM

The Personal Investment Enterprise (PIE) program is a local savings program provided through Community Action Programs of Boulder County and Foothills United Way. The program is designed for low-income families to enroll in financial literacy classes and save through a matched saving account at a rate of 4 to 1. The first step in applying to the program is to attend an orientation meeting with Nino Gallo at Community Action Programs at Boulder County. Nino may be reached at 303-441-3998 or at [email protected] more information on the PIE program visit http://www.bouldercounty.org/family/financial/pages/pie.aspx

Holiday shoppers have been careful each season to make their lists and check them twice. Budgets have become more discerning and savers have become better planners for their holiday spending, prioritizing savings along the way. According to a September 2016 report, two out of five millennial shoppers got a head start this year and had started buying gifts for the season before summer had even come to a close.

These successful financial habits don’t have to stop there. With the New Year comes an opportunity to make some improvements to your financial health. Don’t make just another resolution that disappears by Valentine’s Day. Take your financial wellness to a whole new level: a New Year, a new financial you.

These five steps will help you to establish your best financial path for 2017, and you can have all the heavy lifting done before the clock strikes twelve:

Take stock of your finances. Take account of all your income, expenses, and existing savings/investment accounts. And no matter how nice you were, don’t forget to include any naughty debts you may have incurred in the spirit of the season.
Sketch out a budget “template” for the year to come. Think big picture. Plan your holiday spending for 2016 with this handy worksheet from America Saves and find the method for budgeting that you’re going to use in 2017, and rough out what you’d like it to look like from month to month. Be pragmatic about your needs and be honest about where your money is going. Plan to make adjustments and really dig into your spending habits when you check back in on a regular basis.
Check your credit report. It is your legal right to get a free copy of your credit report every 12 months from each of the three major credit reporting bureaus. Add a visit to AnnualCreditReport.com to the calendar as an annual “holiday” or divvy up the bureaus to get a free report from a different bureau every four months.
Set up bank and credit alerts, and financial reminders. Whether you’re at your computer or on your mobile device, you are in an ideal position to receive notifications about upcoming payments, suspicious activities on an account, transactions over a certain dollar amount, low balances, and more. Find out what online services your financial institution(s) offer, and supplement what they don’t with an app or calendar reminder. It’s all right there at your fingertips.
Make a Commitment to Yourself to Save. Those who make a commitment to themselves and their family to save usually save more than those who don’t. Think of this as your New Year’s Resolution. Make your commitment today by taking the America Saves Pledge and get regular advice and support from America Saves while you save money.

A new financial you is an achievable goal for 2017. Join those savers who have successfully opted to reduce holiday spending and prioritize savings throughout the season. To learn more about spending and saving during the holidays and take the America Saves pledge, visit AmericaSaves.org.

Bonus Content: Hear from two economists about holiday saving and spending in this video that is full of tips and advice from America Saves.

Tammy G. Bruzon works for America Saves, managed by the nonprofit Consumer Federation of America (CFA), which seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth.

ABOUT THE PERSONAL INVESTMENT ENTERPRISE (PIE) PROGRAM

The Personal Investment Enterprise (PIE) program is a local savings program provided through Community Action Programs of Boulder County and Foothills United Way. The program is designed for low-income families to enroll in financial literacy classes and save through a matched saving account at a rate of 4 to 1. The first step in applying to the program is to attend an orientation meeting with Nino Gallo at Community Action Programs at Boulder County. Nino may be reached at 303-441-3998 or at [email protected] more information on the PIE program visit http://www.bouldercounty.org/family/financial/pages/pie.aspx

Other Resources:

1. America Saves Twitter Chat

Please join @AmericaSaves on Tuesday December 6th at 2pm Eastern for a 45-minute power chat on savings and financial habits during and after the holidays.

Americans plan to spend over $900 on their holiday shopping this year. It makes sense when you add up all the travel, meals, gifts, tips, and even the lights! Please join our Twitter conversation to discuss how to set a holiday budget, limit spending, and establish good savings habits for the New Year.

Hashtag: #HolidaySavings

Featuring:
Aaron Klein, fellow of economic studies at Brookings Institution (@Aarondklein)
Mark Calabria, director of financial regulation studies at CATO Institute (@MarkCalabria)

Topic: Holiday Habits: Spending Less and Saving More

When: Tuesday, December 6 at 2pm Eastern

Easy ways to follow the chat: Twubs or tchat.io

2. • Financial fine-tuning you must do before year's end, USA Today
3. • Steps to Take Now to Avoid Holiday Overspending, GoBankingRates