Through 2022, Boston Saves is piloting a special offer for families who have logged in to the Savings Center to see their child’s account: Earn $25 for your child when you get a free Financial Check-Up – a virtual, 15-minute credit review with a trained financial guide from the Mayor’s Office of Financial Empowerment.
What is a Financial Check-Up?
The Financial Check-Up is a 15-minute, one-on-one session with a trained financial guide who will:
- Pull your credit report (this “soft pull” will not affect your credit score)
- Review your credit status with you
- Give advice on how to manage costs, cut debt, and build credit
- Connect you with free, long-term financial coaching, if interested
The Financial Check-Up is given by the Mayor’s Office of Financial Empowerment, an agency within the City of Boston that helps residents boost their financial health. This work is part of Boston Builds Credit’s goal of helping 25,000 residents reach a prime credit score – a score that will help them borrow money at better interest rates.
Who can get the Financial Check-Up?
Any Boston resident can get a Financial Check-Up. You do not even need a Social Security Number (SSN). (If you do not have an SSN, your Financial Check-Up just won’t include your credit report.)
However, to earn the $25 for your child, you must have a child with a Boston Saves account and you must have logged in to the Savings Center. Logging in is easy. If you have trouble, just contact email@example.com.
Finally, please note that in this pilot phase of the offer, the Financial Check-Up is only held in English and Spanish.
How is the $25 awarded?
After you get the Financial Check-Up, Boston Saves will put the money in your child’s account within one week. There is nothing else you have to do.
The money for the Financial Check-Up can only be earned once per family and for one child. This means you cannot get the Financial Check-Up twice to earn more money. Also, if you have more than one child with a Boston Saves account, the $25 will go to the oldest child and cannot be earned for more children.