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Empowering Families for Financial Stability: Join SaverLife CT!

SaverLife CT helps families overcome financial barriers that hinder their quality of life. With 40% of Connecticut households struggling to afford basic needs and a significant portion of residents lacking savings, our program offers support through tech-enabled financial counseling and rewards for saving. Participants can earn money for saving, build emergency funds, and receive ongoing guidance. Join us in creating pathways to financial security and stability for families in need. Together, we can make a difference in our community!

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Empowering Families for Financial Stability: Join SaverLife CT!

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  1. Helping families face financial obstacles that prevent a good quality of life.

  2. 40% of CT households could not afford basic needs. • Average CT Household Survival Budget for a CT family of 4 is $77,832, or $39.92/hour • 45% of all CT jobs pay less than $20/hour • 37% of CT residents did not set aside any savings last year

  3. Why Savings Matters • 40% of Americans could not cover a $400 expense with the cash they had on hand. • Families with just $250 of savings are less likely to be evicted or miss a housing or utility payment. • Children’s money habits are formed by the age of 7.

  4. On a Path to Financial Security • SaverLife CT (EARN) • Kick-start emergency savings with savings rewards • Trusted Advisor(Neighborhood Trust Financial Partners) • Free tech-enabled, one-on-one financial counseling available to ALICE Saves participants

  5. First 6 months - save $20/month, earn $10/month; after 6 months eligible for savings prizes • Expanded number of financial institutions • Eligibility requirements • At least age 18 • Valid email address • Account with online banking credentials • No income limits

  6. Weekly savings tips from a financial coach • Online financial tools • 2017 Pilot Results • 319 Savers • Saved $260,374 • Average savings - $970

  7. Builds trusted relationship with client to manage and improve financial lives. • Tech enabled financial counseling available in English and Spanish. • Co-create plan to meet financial goals, counselor supports and encourages action. • Reduced client debt by $4 million since 2016, 92% have more confidence making financial decisions

  8. What you will receive Partnership Opportunity • Marketing toolkit (https://alice.ctunitedway.org/partneralicesaves/) • Monthly participation, savings and rewards reports by zip code • Training • Connect savers to Trusted Advisor • Recognition as a SaverLife CT partner Your Commitment • Promote SaverLife to your constituency • Identify target number of savers you will enroll

  9. Contact: Your Local United Way or Donna Taglianetti 860-559-5618 dtaglianetti@unitedwayinc.org or Joshua Miller 860-372-4217 joshua.miller@ctunitedway.org

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