DISB is participating in America Saves to encourage DC residents to “Set a Goal, Make a Plan and Save Automatically.”
The D.C. Department of Insurance, Securities and Banking and its Bank on DC program are participating in America Saves and Military Saves Week from February 24 to March 1 to encourage D.C. residents and military personnel to save money and improve their saving habits.
America Saves Week is a national annual campaign that is organized by Consumer Federation of America and the American Savings Education Council to help people create savings plans, save more, reduce debt and build wealth. Military Saves, a component of America Saves and partner in the Department of Defense’s Financial Readiness Campaign, encourages service members, their families and civilian employees to save money and build wealth.
This year for America Saves and Military Saves Week, the department will focus on three different groups including D.C. Government employees, D.C. residents and military personnel. Throughout the week, the department will share savings tips on its website at disb.dc.gov and through social media aimed at these three audiences. In addition, the department and its partners will also promote savings with free financial education workshops at nine DC Earned Income Tax Credit locations in the District.
To learn more about America Saves Week and for additional savings tips, visit americasavesweek.org. Also, like us on Facebook or follow us on Twitter for daily savings tips and more throughout this week.
Press Release, Feb. 24, 2014: D.C. Residents Encouraged to “Set a Goal, Make a Plan and Save Automatically”
Saving for Retirement
Did you know that if you are a DC Government employee you can save for retirement by making tax-deferred contributions directly from your paycheck? You can contribute as little as $20 a paycheck. See the details about the District’s 457b Deferred Compensation Plan from ING Financial Advisors at this link.
Make a Savings Plan
Did you know that if you create a savings plan you are twice as likely to reach your goal? To start your savings plan, join the Pledge to Save campaign by America Saves. To take the pledge, click here.
Save Money by Going Green
The “Do IT for DC! Challenge” is a 90-day plan to save $2,000, reduce your carbon footprint and make DC greener. The campaign is a joint effort among Going Green Today, the District Department of the Environment and the DC Office of Planning to empower the DC community to make more sustainable choices in our everyday lives. To sign up for the challenge, click Go Green.
Option for Tax Savings
The DC Earned Income Tax Credit campaign helps low-to-moderate income tax payers keep more of what they earn. When the earned income tax credit exceeds the amount of taxes owed, a refund is provided to those who claim and qualify for the benefit. The credit basically reduces the amount of tax you owe which may result in a refund. District of Columbia residents can claim the tax credit on both their federal and state income taxes. The campaign is managed by the Capital Area Asset Builders. For more information on DCEITC, click here.
Personal Wealth Estimator
The personal wealth estimator is a financial calculator that can determine your current net worth and can help you determine your future net worth based upon your personal preferences.
Home Wealth Estimator
The home wealth estimator is a financial calculator to determine the current equity in your house or condo and to estimate future home wealth based on your mortgage.
Social Security Retirement Estimator
The retirement estimator is a calculator provided by the U.S. Social Security Administration to get an estimate of your retirement benefit based on your actual Social Security earnings record.