Financial Education Guide for VITA Sites

Posted by on January 02, 2012

Spend Some, Save Some: Making the Most of Your Tax Refund

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 new 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

Click here to download the Financial Education Guide to print and share with taxpayers at your VITA sites!

For more information, please contact Stephanie Halligan at or Leigh Tivol at

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