Tax Time Savingsfor all with U.S.Savings Bonds:Training Webinar
2
A Savings Crisis
Some alarming facts:
Americans had stopped saving
±
in early 2008 our personal savingsrate fell to just 0.1%.
Debt has grown
±
from 1994 to2008, average family credit carddebt doubled from
$4.3k
to
$9.6k
.
I
nequality is high
±
the bottom 40% of Americans own
5%
of the nation¶s wealth.
V
ulnerable are hardest hit
±
poorest 25% of families have
negative
net worth.
Finally, a window of opportunity to help people save again -
the savings rate iscreeping upward as a result of the recession
3
Why
Saving Matters
Role of Savings:
emergency reserves
for ³get ahead´ investments (home,education, retirement)
alternative to costly credit
provides sense of security, comfort
P
rocess of Saving:
promotes thinking ahead, prioritizing
models behavior for kids
emotional payoff (pride, satisfaction)
³No one has ever spent his wayout of poverty.´
~
Dr. Michael Sherraden
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Low-Risk Tax-Time Savings for All with U.S. Savings Bonds: Training Presentation
http://bondsmakeiteasy.org This presentation can be used by tax sites to train staff and tax preparers about the new opportunity for their tax clients to save a portion of their refunds directly on the tax form into…
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