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Adult and Community Learning Services

Financial Literacy Resources

Taxes, Individual Asset Development Accounts and Resources for the Recession

It's tax season and a perfect time to assess students understanding of taxes from how to file a tax return to what do we receive in return for paying them. This year, given the economic climate and the intensity of the debate in congress over the role of taxes in recession relief, teachers can engage students in "contextualized" lessons about personal finance and the impact of political and economic policies.

From www.irs.gov comes a website which covers all the basics of payroll and income taxes, complete with 36 lesson plans (type in lesson plans in the search bar). Information on rebate checks and other current issues. A good website to learn to navigate in a computer class.

All the information and resources are available in English and Spanish.

Dollars and Sense is a non-profit publisher that produces the bi-monthly magazine Dollars and Sense and Real world course readers and other texts. This link takes you directly to the publication Teaching Economics As If People Mattered. Browse the site for information on materials. Some are free.

In November of 2008 an excellent workshop was given at the Northeast SABES on Financial Literacy and Individual Development Accounts. Here are some of the useful resources

This is the website of the Massachusetts Association for Community Action and can direct students to find free tax preparation sites. In addition this website has some information on Individual Development Accounts and Financial Literacy services.

Individual Development Accounts (IDA) is a program in which participants save money that is matched by public or private resources for up to 5 years. At the end of that time, the participant can use the resources to buy a home, start a business, or seek higher education. Designed to address a major barrier to middle class economic status, accumulated assets, IDA programs work with qualified low-income individuals to begin to acquire the skills and the funds to improve their lives. See the Mass. Dept. of Housing and Community Development for more information.

Check out personal stories about the success of IDA programs at the website of Corporation for Enterprise Development

The Money Conference: Rebounding from the Recession

Save the date: Saturday, April 25, 2009 for a free conference sponsored by State Treasurer Tim Cahill in Springfield. Link to the website for more information.