GIVE. ADVOCATE. VOLUNTEER. October 2020

OCTOBER FINANCIAL CHECK-IN

We all know that having a plan is so important to reach your financial goals. We also know that sometimes it's hard to get started! We wanted to take this opportunity to share with you a few resources we're using to keep our financial house in order, along with how we have been able to help community members like you.
Finance Friday
Teaching Kids About Money

Learning good money habits early can set children up for financial success. This week we share different ways to talk with your children about money from definitions (spending, saving, and investing) to different activities you can use to start those conversations. Click here to learn more.
Banzai

We've partnered with CP Federal Credit Union to share Banzai, an online interactive and self-guided financial education platform. With personalized coaching tools, specialized calculators, and learning modules that cover a variety of topics, Banzai allows you to take your financial future into your own hands. You can check out Banzai here.
Payroll Tax Holiday

An executive order has authorized for a payroll tax holiday from September 1 – December 31, 2020. This applies only to Social Security taxes, which means if your employer opts in to the tax holiday, the 6.2% you normally pay will not be withheld. Because this is a tax holiday and not forgiveness, this money would need to be paid back in 2021. If you haven’t already, check with your employer to see if they have opted into the tax holiday so you can make a financial plan. For more information, please visit our website for more details.
FAFSA

Did you know that the Free Application for Federal Student Aid (FAFSA) opens next week on October 1, 2020? Some of the funding is on a first-come, first-serve basis, so getting this completed early can help increase the amount of financial aid you receive. You can learn more about FAFSA, the filing process, and the cost of attending college by clicking here
FINANCIAL NAVIGATION
Financial Navigation

Did you have a job change?
Did you take a pay reduction?
Did something shift in your finances recently?
Do you need help navigating or unsure what programs you may qualify for?

Washtenaw County Office of Community and Economic Development, in partnership with United Way of Washtenaw County, has launched a Financial Navigator program to help residents manage the financial impact of COVID-19.

Call United Way for a free, 30-minute call with one of our Financial Navigators and get your questions answered and help with navigating the numerous resources available during this time.


Click HERE to complete our interest form or call 734-677-7202 to talk to a Financial Navigator.
FINANCIAL COACHING
Financial Coaching Impact Report

The Financial Coaches have been working with the community over the last year by offering financial education workshops along with one-on-one coaching for individuals and families.

They are excited to share the progress of the 80 different participants they have been working with over the last year and how this has helped reach goals like increasing credit scores by an average of 41 points, an average participant savings increase of $426, and were able to reduce debt on average by $228.

Check out our report here and if you are interested in services, you can connect with us here.
VITA
VITA Impact Report

The VITA team is excited to share the results with the community on the impact we had providing free tax preparation services to individuals and families in Washtenaw County.

Thank you to all the volunteers that helped us prepare over 1,000 tax returns this tax season and return over $1.75 million tax refunds and credits to our community! You can learn more by reading our report here.

We will be resuming free virtual tax services starting in February 2021.
LEARN MORE ABOUT OUR WORK AT UWGIVE.ORG..
STAY CONNECTED!