Financial Security Building for a New Year

Jan 2017 Newsletter

In This Issue: Welcome to 2017!

The start of a new year is known as a time for setting goals, but how do you stay motivated to reach them once the initial excitement wears off? We’ve collected strategies to help you set and achieve your financial goals this year. Then, get a sneak peek at tax season (we hope you are as excited as we are) and join the EITC Awareness Day campaign. Plus, new videos!

New Year’s Resolutions

January 1: “It’s the new year, I have this amazing goal that I’m going to accomplish!”February 1: “It’s ok, I haven’t gotten around to it yet…”
March 1: “Next month for sure”
April 1: “What was my goal again?”

Sound familiar? It’s something we all struggle with –coaches, providers, administrators, and customers alike –transforming the determination felt as the clock strikes midnight on January 1 into an actionable plan that you’re able to stay engaged with all the way through the year. Try these winning strategies from our financial coaching network:

  • Devise a system for consistent reminders of your progress. Financial coach, Andy, suggests carrying a small notebook with you to track your time and expenses throughout the year. This will help you identify patterns and determine new ways to save.
  • Establish a dollar amount you want to work towards. By setting a tangible goal, you can more easily track your progress and see how you are coming closer and closer to success!
  • Break goals down into manageable three and six month mini-goals.
  • Manage expectations and be willing to forgive yourself for a short lapse in progress.
  • Utilize online banking and apps with built-in goal saving features, such as Simple or Digit.
  • Dedicate a portion of your tax refund toward your goal! Save even more by avoiding predatory tax preparation services and by taking advantage of free tax preparation, like the Clinic’s VITA program.

What are your financial goals for the new year? Let us know on Facebook, Twitter, LinkedIn or SHARE!

You’re Invited!

We are kicking off the tax season with an “all-you-need-to-know”informational brunch! Join the Clinic’s staff, partners, customers, and supporters on Saturday, February 4 at Make the Road New York in Jackson Heights, where attendees can have all their tax questions answered, learn free ways to file, schedule appointments, and more, with complimentary breakfast. We’ll even have a table just for kids! Click here to RSVP by providing your name and number of guests. We hope to see you there!

Saturday, February 4
11:00am –1:00pm
Make the Road New York
92-10 Roosevelt Avenue
Jackson Heights, NY

Celebrating EITC Awareness Day

Friday, January 27 marks the 11th Annual EITC Awareness Day –help us spread the word! The federal EITC (Earned Income Tax Credit), along with the CTC (Child Tax Credit) and AOTC (American Opportunity Tax Credit), represents one of America’s most effective anti-poverty programs: In 2016, the average refund was $2,400. In addition, 25 states, plus local municipalities such as the District of Columbia and New York City, now offer state and local earned income tax credits. Unfortunately, millions of filers each year are unaware of their eligibility. Many more are hardworking cash-earners who are too often denied their refunds because of grueling audit practices, as the Clinic explains here.

Outreach is especially crucial this year, as the institution of the Path Act now requires EITC refunds to be held until February 15 –a delay nearly three times the length of previous years. The NYC Department of Consumer Affairs describes the implications in a recent press release.

Be a part of the campaign to ensure 100% of eligible filers receive the refunds they deserve! Take advantage of great resources from the IRS and the Get it Back blog, featuring press releases, social media posts, videos, and more.

Social Spotlight: New Videos

The Clinic’s Vimeo has started the year off with a bang: Watch financial coaching customer Bianca describe her success (spoiler: she paid off$1,600 in credit card debt!) and learn the story behind #Refund529!

Follow the Clinic on Facebook and Twitter to catch all the latest news and posts!

The Clinic Across the Country

Speaking Engagements and Presentations

The Clinic staff have been busy, offering their expertise at various conferences and presentations. A selection of recent appearances include:

  • Chief Program Officer, Haidee Cabusora, joined CFED and Assets &Opportunity Network Steering Committee’s Northeast Virtual Regional Listening and Strategy series as the January 13 moderator to discuss the implications of a changing political environment on financial security building efforts.
  • On January 17, Director of Development, Aubrie Fennecken, and Assistant Director of Capacity Building, Jessica Wise, travelled to Los Angeles to lead training for the LA Financial Wellness Project’s January Learning Circle.