April is designated Financial Literacy Month, and our partners at the Massachusetts Office of Economic Empowerment (OEE) have a plethora of resources available FOR FREE to help residents of all ages take charge of their financial well-being. This blog highlights two resources, in particular: BabySteps, which provides all newborn babies in Massachusetts with $50 when the open a U.Fund 529 College Savings Account, and Enrich, a platform with financial literacy resources for all ages. We will have some bookmarks and flyers to take away very soon at the library’s Reference Desk.
BabySteps
BabySteps is a program offered by the State Treasurer’s office that provides $50 to Massachusetts families to save toward their children’s education. To take advantage of this program, open a U.Fund 529 College Savings Account with Fidelity Investments within one year of their birth or adoption. Follow this link to take advantage of this resource!
Note: Children born between 2025-2028 are eligible for $1,000 seeding their “Trump Accounts,” which are tax-advantaged investment accounts for all U.S. citizens under the age of 18. Children of any age are eligible to open an account. You can open these accounts via the IRS. See more information by visiting trumpaccounts.gov.
Enrich
Enrich is an accessible digital financial learning platform that’s available at no cost to Massachusetts residents from the State Treasurer’s Office. Patrons can sign up for a free account and gain access to personalized education paths designed to help them feel more confident managing their money and planning for the future. Enrich offers a host of interactive tools, including courses, articles, and quizzes, that help users get a clear picture of their financial health, develop a personalized action plan, and track their progress over time. There are hundreds of courses, tools, and interactive exercises covering a wide range of topics, from teaching children about financial wellness, to living comfortably in retirement.
