Over at mint.com there is a very interesting infographic about how sometimes things that seem to good too be true can end up costing you more money in the end. A lot of these services seem to affect low-income individuals and families disproportionately.
At United Way of the Bay Area we are well of this issue and it informs several of the programs that we support. Through Bank On we are helping thousands of families without bank accounts access banking services so they don’t lose hundreds of dollars annually at payday lenders. The Bank On program also offers financial education which is helping thousands rejoin the financial mainstream and build assets and establish or repair their credit.
Through Earn It! Keep It! Save It! we’re helping low to moderate income households get the tax refund they deserve through free, high-quality tax return preparation. The program also provides access to asset building or income support resources such as public benefits, low or no cost bank accounts or financial education.
(hat tip to United Way of King County for finding this!)
