The week of financial empowerment events runs February 25 - March 2
Mayor Martin J . Walsh today announced a series of free financial empowerment events for Boston residents as part of America Saves Week, a national campaign to promote saving. The week's activities, which run from February 25 to March 2, will include tax help, credit-building workshops, savings fairs, and welcome events for the City's children's savings account program.
"Saving money is a powerful way Boston's families can meet their financial goals, whether that's a downpayment on a house or college tuition for the next generation," said Mayor Walsh. "America Saves Week provides an opportunity for us to highlight the many free financial education initiatives the City of Boston offers to help families save for their futures."
Many of the America Saves Week events draw on programs that help residents maximize their financial capabilities year-round. These include:
- Boston Builds Credit, an initiative from the Mayor's Office of Financial Empowerment that shows residents how to improve their credit scores
- Boston Saves, the City of Boston's children's savings account program
- Boston Tax Help Coalition, a program that provides free tax preparation for workers who earn less than $55,000 per year
Additionally, the week will feature savings fairs held both at City Hall and in the Bolling Building in Roxbury. These fairs provide residents with easy access to a variety of resources available to help them save, protect, and grow their money.
"The City of Boston Credit Union is pleased to join with the Mayor's Office of Financial Empowerment and America Saves week to assist Boston residents with savings strategies and opportunities," said Daniel Waltz, president and CEO of the City of Boston Credit Union. "At a time when many Americans do not have enough savings to last three months, we are especially focused on helping Bostonians build for their financial futures."
Launched in 2007, America Saves Week is an annual campaign that brings together nonprofit, government, academic, and business groups to encourage Americans to save effectively. America Saves Week is coordinated by America Saves and the American Savings Education Council, a national coalition of public- and private-sector institutions committed to making saving and retirement planning a priority for all Americans.
"The United States is suffering through a savings crisis that dramatically affects 40 percent of the population that cannot access $400 to meet an unexpected expense without going further into debt," said George Barany, director of America Saves, the savings campaign of the nonprofit Consumer Federation of America. "America Saves congratulates efforts by the City of Boston to support their employees and residents to achieve greater financial stability and to meet this crisis head on."
Building on his support of wealth building and economic equity for residents and families in Boston, earlier this year, Mayor Walsh submitted An Act to Promote Asset Building for Low-Income Residents as part of his legislative agenda, which would remove the cap on assets for families receiving temporary cash assistance. The current policy disincentivizes families to accumulate even moderate savings and makes it more difficult for them to access resources. Eight other states have enacted similar changes with positive results.
Savings Fair - Monday, February 26
9 a.m. -1 p.m.
Boston City Hall, 2nd floor
Discover a variety of City of Boston resources. Participating organizations include:
Free Tax Help - Tuesday, February 27
When: 9 a.m. - 12 p.m.
Where: Allston Brighton Child & Family Services Center, 406 Cambridge St., Allston
When: 4 - 8 p.m.
Where: 450 Washington St. in Codman Square, Dorchester
When: 4 - 8 p.m.
Where: Jewish Vocational Service (JVS), 75 Federal St., 3rd floor
When: 4 - 8 p.m.
Where: Roxbury Center for Financial Empowerment, 7 Palmer St., 2nd floor, Roxbury
When: 5 - 8 p.m.
Where: Urban Edge, 1542 Columbus Ave., Roxbury
Free Credit-Building Workshop - Wednesday, February 28
When: 12 - 1 p.m.
Where: Boston City Hall, Room 933A, 1 City Hall Square
When: 1 - 2 p.m.
Where: Boston City Hall, Room 933A, 1 City Hall Square
Savings Fair - Friday, March 1
9 a.m. - 1 p.m.
Bolling Building, 1st floor, 2300 Washington Street, Roxbury
Discover a variety of City of Boston resources. Participating organizations include:
Free Financial Literacy Workshops - Saturday, March 2
11 a.m. - 6 p.m.
Roxbury Community College Student Commons, 1234 Columbus Avenue, Roxbury
Attend tax information and credit building workshops led by Mayor's Office of Financial Empowerment experts. The workshops are part of a full day of financial literacy workshops presented at the Money Talk 2 financial literacy conference. Be sure to RSVP here.
