North Carolina Saves
The North Carolina Saves Campaign partners with banks and credit unions that can offer you a low or no-cost banking account, as well as tips and strategies for paying down debt and getting started saving towards your goals. For more information, please visit the NC Saves website at http://www.ncsaves.org
Individual Development Accounts (IDAs)
Individual Development Accounts, or IDA’s, are matched savings accounts that help low- and moderate-income individuals and families save money and build assets. IDA’s are generally used to help people save for the purchase of a home, pay for education, or start a small business. The EITC and IDA’s can make a powerful combination for assisting low-income families to build wealth. For more information about IDA’s, visit the websites listed below.
North Carolina’s 529 National College Savings Program
North Carolina’s 529 savings plan is a savings account designed to help families put money aside tax free to pay for college tuition. These accounts can be opened by almost anyone and require a relatively small opening contribution. A variety of savings schedules can be designed to meet individuals saving needs. For more information visit: www.cfnc.org/savings/cv0021.jsp
Credit Counseling
If you’re feeling overwhelmed by existing debt or would simply like to learn how to manage your money to stay out of debt, credit counseling agencies can help.
To find a certified Consumer Credit Counseling Service agency near you, go to the following website of the National Foundation for Credit Counseling: http://www.debtadvice.org/takethefirststep/locator.cfm
For more information about credit counseling and other resources on home foreclosure, handling medical debt or other types of debt management, go to the following website of the National Foundation for Credit Counseling: http://www.nfcc.org/
When looking for a reputable credit counseling agency, keep the following guidelines in mind:
- Avoid credit counseling agencies that advertise on television, use telemarketing, or send out spam emails, even if they say they are not-for-profit;
- If the agency is asking for large up-front fees or keeps your first month of payment, this is a warning sign that you should look elsewhere;
- Be wary of giving out personal financial information over the phone unless you know that you are working with an accredited group such as a Consumer Credit Counseling Service (CCCS) agency;