Advance Financial Literacy across North Carolina
Financial Education Center
The Department of State Treasurer is committed to helping North Carolina families increase their understanding of finances and ability to grow personal wealth. Financial literacy helps provide citizens of all ages with the information and resources to manage their finances and make important financial decisions.
The Department of State Treasurer is partnering with the Community College System and other educational agencies to provide an online financial literacy tool for community college students. Advanced Money Management for Community College Students was designed to ensure that individuals who are continuing their education by enrolling in the community college system have the information and tools needed to make good financial decisions. This resource will help students manage their debt and budget while furthering their education.
The tool is offered in partnership with the State Education Assistance Authority and College Foundation of North Carolina.
Treasurer Cowell will talk to community college students about financial decisions in her upcoming Student Debt Tour in November
State Treasurer Janet Cowell provides podcasts with helpful savings and financial tips for North Carolinians. Listen to the message below for information about how you can save for retirement during tax season.
A Message from Treasurer Janet Cowell
TAX TIPS
A Special Financial Education Center Update from the State Treasurer
Tax season is approaching and refunds may provide some relief to many North Carolina residents who are struggling financially.
As State Treasurer, I want to help North Carolinians take advantage of state, local, and national resources that can not only help them save money when filing their taxes, but also boost our state’s economy.
Free Tax Preparation
Households who earn $49,000 or less per year or military, elderly, disabled, and non-native English speakers can take advantage of Volunteer Income Tax Assistance (VITA) sites. To find a free tax preparation site, call 888-756-2463 or view a listing of sites by county.
Free tax preparation services are also available at all State Employees' Credit Union branches.
Free Online Filing
Individuals who wish to prepare their own tax returns can file for free through The Benefit Bank™ of North Carolina (income limit of $60,000) or IRS FreeFile (income limit of $58,000). Some providers also offer free or low cost filing of state returns.
Earned Income Tax Credit
The Earned Income Tax Credit (EITC) is both a federal and state income tax credit that benefits low-to-moderate-income working families. Families with income of approximately $49,000 or less may be eligible for a federal credit of up to $5,666. The state credit is equal to 5% of the federal credit amount.
To see if your family is eligible or to get more information, visit the EITC website or call 1-800-829-1040.
RESOURCES FOR PUBLIC EMPLOYEES
State Treasurer Janet Cowell embarked on a Financial Literacy Tour across North Carolina, visiting with officials from local governments. The tour provided a unique opportunity for public employees to hear from Cowell and staff on a variety of topics including: the need for Financial Literacy in the workplace, resources the Department of State Treasurer offers, and ways to enhance employee preparation for retirement.
Here are some of the helpful resources discussed during the tour:
North Carolina Retirement Systems -http://www.nctreasurer.com/dsthome/RetirementSystems
ORBIT Program - https://orbit.myncretirement.com/orbit/Common/Pages/BPASLogin.aspx
North Carolina Supplemental Retirement Plans - https://www.retirement.prudential.com/cws/ncplans/flash_index.html
Local Government Federal Credit Union - https://www.lgfcu.org/plan/
State Employees Credit Union - https://www.ncsecu.org/
Consumer Protection
North Carolina Department of Justice - http://ncdoj.gov/
North Carolina Securities Division - http://www.secretary.state.nc.us/sec/
North Carolina Division of Social Services - http://www.ncdhhs.gov/dss/
Women and Finance
Women's Business Center - promotes economic self-sufficiency for all women of North Carolina through entrepreneurship, specifically by providing tools and opportunities to help women entrepreneurs achieve their goals. To learn more, visit the Women in Business section on The Institute of Minority Economic Development webite.