Sarah Steele

Family Development Accounts

  Accounts are now available! With Maine Family Development Accounts, you can save towards first-time homeownership, small business development, or your own education (i.e. associate degree, bachelor’s degree, certificate program, or coursework that will improve your earning potential).   Here’s how it works: You save up to $1000 in your Family Development Account, and your savings get matched 4:1 (up to $4000). You can save over as short a time as …

Financial Feature: Spend, Save, or Earn?

When we think of budgeting, often we’re focused on trimming the fat. Where can we cut corners? How much does one less coffee help our wallet? It’s important to focus on the big picture as well as the small expenses. Consider the chart at left click to enlarge): housing and transportation are the two biggest categories. Lifestyle and spending choices have a big impact on your budget, for example, commuting …

Financial Feature: Bill Yourself for Savings

How can you fit savings into your monthly budget? Long-range priorities can be hard to stick to when times are tight, whether you’re saving for a reliable car, retirement, or any goal that will take more than a few paychecks. One technique for savings success is to pay yourself just as you pay your bills. With direct deposit from your paycheck or automated funds transfers to a savings account, you …