Savings and Financial Security
Financial Education Guide for VITA Programs
Volunteer Income Tax Assistance (VITA) programs offer a valuable service that helps working families keep more of their hard earned money, especially if they quality for the Earned Income Tax Credit (EITC). This refundable credit often serves as a large lump sum injection of income for the low- and moderate-income families that qualify.
An important element of many successful EITC campaigns is connecting workers to asset-building opportunities. Financial education, asset-building tools, safe financial products, credit repair resources, and more can help families use their returns to build assets.
CFED and Bank of the West are pleased to share a Financial Education Guide designed specifically for taxpayers receiving assistance at VITA programs. This free, easy-to-read guide (available in English and Spanish) walks clients through some important things to consider when they receive their refunds to help them make the most of the money they expect to receive. This guide and the included Savings Plan Worksheet can help taxpayers:
- Recognize the value of using the tax moment to contribute to their short- and long-term savings goals
- Make decisions about how to use their refunds for spending on “must-haves,” saving for the future and spend on “nice-to-haves”
- Get connected to resources like U.S. Savings Bonds, College Savings Accounts, additional tax credits like the Saver’s Credit, Individual Development Account programs and Bank On campaigns
Download the Financial Education Guide
The financial education guide is available in both English and Spanish and in two different printable formats - Standard Letter and Bulletin. The Standard Letter version can be printed on 8.5'' x 11'' Letter paper and stapled together at the corner. The Bulletin version should be printed double-sided on 11'' x 17'' paper and pages should be folded in half. The second sheet should be inserted into the first and stapled at the center to create a booklet.
- English Financial Education Guide for Standard Letter Printing
- English Financial Education Guide for Bulletin Printing