For Families

  • Families Banner

    Welcome, Boston Saves families! We’re so glad you have started planning now for your child’s financial future. On this page you will find:

    • Answers to common questions about Boston Saves
    • Resources to help you build your money
    • Tools to teach your children about saving
    • Information on how you could become a Boston Saves Family Champion

FAQ

  • The more college education a person has, the more money they usually make later in life. The chart below shows that when it comes to college, every little bit helps!

    earnings chart

    There are also good careers that do not require a college degree. However, these jobs still require training. Here are some examples:

    Bos Careers

    All K2 and 1st grade students in the 11 current pilot schools are automatically enrolled in Boston Saves. These schools are:

    • Conley Elementary
    • Harvard-Kent Elementary
    • McKay K-8
    • Otis Elementary
    • Roosevelt K-8
    • Winship Elementary
    • Gardner Pilot Academy
    • West Zone ELC
    • Haynes EEC
    • King K-8
    • Mattahunt Elementary
     

    All K2, 1st and 2nd grade students in the five initial pilot schools are automatically enrolled in Boston Saves. These schools are:

    • Conley Elementary
    • Harvard-Kent Elementary
    • McKay K-8
    • Otis Elementary
    • Roosevelt K-8 
     

    All K2 students in all Boston Public Schools will be automatically enrolled in Boston Saves in Fall 2019.

    If your child is eligible for Boston Saves, they already have an account! Simply log in to the web portal to see the Boston Saves Dollars in your child’s account. To log in ask the Boston Saves School Coordinator at your child’s school for the ID number and password for your child’s account. You can find your school's Coordinator here.

    There are three ways you can earn Boston Saves Dollars for your child’s account:

    • 1) Open a financial account for your child’s future.
    • 2) Read regularly with your child.
    • 3) Use a free service from the Mayor’s Office of Financial Empowerment.
     

    Learn more about earning Boston Saves Dollars

    When your child finishes high school, their Boston Saves Dollars can be used to help pay for community college, four-year college, career training, technical certificates, or any other form of accredited higher education.

    You do not put your own money into your child’s Boston Saves account. The account is only for the starting $50 deposit and any extra Boston Saves Dollars you earn for your child. These rewards are automatically added to the account when you earn them.

    You also cannot take money directly out of your child's Boston Saves account. When your child finishes high school, Boston Saves will send the money as payment to an education or training program that your child has enrolled in.

    Remember that you can always save more money for your child by opening a financial account for their future. This money belongs to your family and can be deposited or withdrawn as needed.

    When a student leaves a participating school, their Boston Saves account will become inactive. Inactive accounts cannot earn any new Boston Saves Dollars. However, your child will still be able to use any Boston Saves Dollars already in the account for their college or career training.

    When your child finishes high school, their Boston Saves Dollars can be used to help pay for community college, four-year college, career training, technical certificates, or any other form of accredited higher education.

    The money held in your child's Boston Saves account will not affect your eligibility for public assistance. The Boston Saves Dollars in this account belong to your child and are held by the Boston Educational Development Fund.

    However, money held in a financial account that you open for your child can affect your eligibility for public assistance.

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Build Your Money

  • Below are free programs from the City of Boston that can help city residents increase their financial well-being, train for better jobs, and pursue a college degree. Click the links below to learn more about each program, including eligibility guidelines.

    Financial Programs

    Open a Bank Account

    Find a safe and affordable bank account to better protect, save, and access your money with the help of Bank On Boston. To learn more, visit the Bank On Boston webpage.

    Learn how to Build Credit

    Attend a credit-building workshop from Boston Builds Credit to learn how to improve your credit score. To learn more, visit the Boston Builds Credit website.

    Get Tax Help

    Get your taxes done by a trained tax preparer at one of dozens of Boston Tax Help Coalition sites across the city. To learn more, visit the Boston Tax Help Coalition website or call 617-635-4500

    Get Financial Coaching

    Take advantage of long-term, one-on-one financial coaching and access to computers and printers at the Roxbury Center for Financial Empowerment, located in Dudley Square. To learn more, call 617-541-2671

    Job Training Programs

    Train for City Jobs

    Train to become an Emergency Medical Technician (EMT) or earn a Hoisting or Commercial Driver’s License (CDL) through City Academy. Graduates are eligible for living wage jobs with the City of Boston. To learn more, visit the City Academy webpage.

    Become an Apprentice

    Train for living wage union apprenticeships in construction or hospitality through the Greater Boston American Apprenticeship Initiative (GBAAI). Some participants can also earn college credit on the job and receive tuition assistance to finish their degree. To learn more, visit the GBAAI webpage.

    Prepare for a Hospitality Career

    Prepare for training in the culinary or housekeeping fields and earn a free laptop. To learn more, visit the Bridge to Hospitality webpage or contact Sharon at 617-541-2612.

    Education Programs

    Attend College for Free

    Attend community college free of tuition or mandatory fees through the Tuition-Free Community College Plan. A sister program, Boston Bridge, also gives graduates the option of continuing at a 4-year state university for free. Eligible participants must have earned a high school credential in the past year. To learn more, visit the Tuition-Free Community College webpage.

    Below are tips from across the web that may help make saving easier for you. This list does not constitute an endorsement or financial advice from Boston Saves.

    Below are tips from across the web that you may find helpful for building your finances. This list does not constitute an endorsement or financial advice from Boston Saves.

Teach Your Kids About Money

Apply to be a Boston Saves Champion

  • The best way for families to learn more about Boston Saves and get motivated to save money is from another parent. If you are a parent at a Boston Saves school, you could help fill this role as a Boston Saves Family Champion! Family Champions participate in program workshops, share information with other parents, and help with Boston Saves events. They are also compensated for their time. If you would like to learn more, please email bostonsaves@boston.gov.

    Interested in becoming a Boston Saves Family Champion? Please fill out this brief application form. Thank you for your support!