Easy As PIE

America Saves Week

Save by Reducing Debt

It’s America Saves Week! Each year we encourage our community to dedicate this week to pause and do a financial check-in, and this year is no different.

Chances are that you or someone you love has experienced a loss of income since the onset of Covid-19 in America— so what better time to take this week to get a clear view of your finances, set your financial goals, and make a plan to achieve them?

WHEN YOU PAY DOWN YOUR DEBT, YOU’RE SAVING! See the video.

By actively reducing your debt, you are saving on interest. When you pay on time, you save on late fees and maintain your credit score— saving money long-term.

With so many Americans being affected financially by the pandemic, actively paying down your debt may not be a priority, and that’s okay. Be sure that you talk to your creditors and take advantage of any repayment options or arrangements that allow you to keep your credit score intact and avoid additional interest and late payment fees.

Check out today’s blog, “Paying Down Debt Is Saving,” for tips, resources, and tools that help you get a clear view of your finances and decide how to best approach reducing your debt and expenses.

We encourage you to join a community of people on a similar savings journey. The #ThinkLikeASaver Facebook Group is hosted by America Saves and is a great place to get ongoing support and interact with like-minded people committed to saving effectively.

Three more actions you can take as part of America Saves Week:

1. Take the America Saves Pledge to get support and accountability as you reach your savings goal.
2. Enter the #ImSavingFor Sweepstakes for a chance to win up a $500 cash prize.
3. Join us for the #ThinkLikeASaver: Listen to the Tackling Debt Town Hall on the America Saves Facebook page.

Other America Saves Week Resources:

• Best ways to save automatically Blog See what you can save in a year
• Learn about setting up an emergency fund 
• Save for Retirement

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 Maciel Leon at Community Action Programs at Boulder County. Maciel may be reached at 303-441-3972 or at mleon@bouldercounty.org. For more information on the PIE program visit https://www.bouldercounty.org/families/community-action-programs/personal-investment-enterprise/ or https://unitedwaydenver.org/personal-investment-enterprise-pie-program/. To see if you qualify, take this survey: https://www.surveymonkey.com/r/PrelimPIE.

Saving at tax time

Get ahead with a cash-back refund worth up to $6,600

File your taxes for free and get cash back for what you need. Whether you need to catch up on bills, pay down debt, buy something for your children, start an emergency fund, or save for the future, the Earned Income Tax Credit puts money back in your pocket—up to $6,600.

Don’t pay to file your taxes if you don’t have to—if you made $57,000 or less last year, you qualify for free, trustworthy tax help from an IRS-certified preparer.

As of the writing of this blog, the below site is available for in person free tax preparation in Longmont.

1. Longmont VITA - 2050 Terry Street, Ste. 101, Longmont, CO 80501. Open 1/30/21 - 4/10/21, Wednesday and Thursdays 6:00 PM-8:30 PM and Saturdays 9:00 AM-1:00 PM No appointment required. E-mail for questions: coloradovita@gmail.org – Spanish and English

 

Other tax sites in Boulder and Broomfield Counties may announce in person sites later in the month and the locator tools can be found at these websites:

1. Colorado VITA: https://www.coloradovita.org/
2. AARP Tax Aide Locations: https://secure.aarp.org/applications/VMISLocator/searchTaxAideLocations.action

You can estimate your refund at GetMyRefundCO.org.

If you prefer to file on your own, have access to a computer and make less than $66,000 a year, visit MyFreeTaxes.com to file online for free.

Watch this video for more information about claiming the EITC: A Cash-Back Tax Credit that Works for You - English

Other Resources:

Calculator to estimate your refund: https://getaheadcolorado.org/get-my-refund/

EITC Video in Spanish: Reciba Dinero y Ayuda Gratuita para Declarar Sus Impuestos

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 Maciel Leon at Community Action Programs at Boulder County. Maciel may be reached at 303-441-3972 or at mleon@bouldercounty.org. For more information on the PIE program visit https://www.bouldercounty.org/families/community-action-programs/personal-investment-enterprise/ or https://unitedwaydenver.org/personal-investment-enterprise-pie-program/. To see if you qualify, take this survey: https://www.surveymonkey.com/r/PrelimPIE.