Boston Saves
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Get Boston Saves Dollars
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Want to get more money for your child’s Boston Saves account? You can add Boston Saves Dollars by taking any of the actions below!
Action
Boston Saves Dollars
Link a financial account to your child’s Boston Saves account online. $25 Get a Financial Check-Up $25
Save $25 for your child in a 3-month period. $5/period (up to $20/year)
Explore books with your child (3rd grade or younger) in a 3-month period. $5/period (up to $20/year) 1) Link a financial account to your child’s Boston Saves Account online.
Boston Saves Dollars: $25
What to do: First, be sure you have a financial account (savings, checking, 529, or Boston Saves custodial account) set up for your child’s future. If you do not have an account like this, you can learn about the types of accounts here. Be sure to set up online banking so that you can log in to your account on the internet.
Log in to the Savings Center to link your financial account or custodial account to your child’s Boston Saves account. You will need the username and password of your financial account in order to link.
How to make sure the money shows up in your child’s Boston Saves account:
There is nothing more you will need to do. Boston Saves will add the $25 to your child’s Boston Saves account within 1-2 weeks.
Why this action matters:
When you link your own financial account to your child’s Boston Saves account, you will be able to track all your savings for your child in one place: the Savings Center.
2) Get a Financial Check-Up.
Boston Saves Dollars: $25
What to do: Sign up to get a Financial Check-Up – a virtual, 15-minute credit review with a trained financial guide from the Mayor’s Office of Financial Empowerment. You can sign up in English or in Spanish. Then be sure to join your Financial Check-Up at the appointed time.
The money for the Financial Check-Up can only be earned once per family and for one child.
How to make sure the money shows up in your child’s Boston Saves account:
There is nothing more you will need to do. Boston Saves will add $25 to your child’s Boston Saves account within one week.
Why this matters:
The Financial Check-Up can help you understand your credit report and learn how to cut debts and build credit for your family. Learn more about the Financial Check-Up.
3) Save at least $25 for your child in a three-month period.
Boston Saves Dollars: $5 for each three-month period. That’s up to $20 in a year!
What to do: Start saving money in the financial account you’ve linked to your child’s Boston Saves account. Be sure the money in this linked account rises by at least $25 over any of these three-month periods:
- January-February-March
- April-May-June
- July-August-September
- October-November-December
Please note: The total money in your linked account must go up by at least $25 in one of these periods. For example, if you have $30 in your account on January 1, you will need to have at least $55 in the account by March 31 to earn Boston Saves Dollars. This is a good reason to try to not take money out of the linked financial account.
How to make sure the money shows up in your child’s Boston Saves account:
There is nothing more you will need to do. Boston Saves will add $5 to your child’s Boston Saves account 1-2 weeks after the end of the three-month period.
Why this matters:
Getting used to saving regularly – even just a bit at a time – will make sure that your savings for your child keep growing.
4) Explore books with your child (3rd grade or younger) over a three-month period.
Boston Saves Dollars: $5 for each three-month period. That’s up to $20 a year!
What to do: Read or look through books with your child (3rd grade or younger) for 20 minutes a day, 20 days per month, during any of these three-month periods:
- October-November-December
- January-February-March
- April-May-June
- July-August-September
How to make sure the money shows up in your child’s Boston Saves account:
Log in to the Savings Center. In the Exploring Books box at the bottom of the page, click on the link to fill out the current Exploring Books form. Boston Saves will add the $5 to your child’s Boston Saves account within 1-2 weeks.
Why this matters:
Exploring books with your child can help their reading skills and success in school. Studies show that if your child is on-track with their reading skills by the third grade, they will be 4 times more likely to finish high school.