pocket change, winter issue 2013

Winter 2013 - Issue 1Winter 2013 - Issue 1

Brought to you by . . .Brought to you by . . . Supported bySupported by

DFLI is a not-for-profit 501(c)(3) organizationDFLI is a not-for-profit 501(c)(3) organization

Pocket ChangePocket Change

Meta takes top honors

Pocket Change Winter Issue

Hi Everyone,

It’s hard to believe 2012 is now history. It was a productive and busy year for DFLI. I fi nally met many of you whose names I have been reading on our Money School and Purses lists for years. I saw old friends and met new ones at the spectacular FAB Purses to Portfolios Conference supported by Citi Foundation. Th is years was truly a Purses event that was:

F or Women -presented to over a thousand women and the men in their livesA bout Women – topics focused on women’s unique fi nancial needsB y Women– all female keynotes and dozens of women’s agency exhibitors

So many of you joined me in calling the 2012 Purses Conference the best ever.Th ere were very positive comments about our 6 nationally-recognized speakers:

Mary Caraccioli, the Money Confi dante and our very own money coach Candace and Ginita, who created wife.org and Money Clubs Lynette Khalfani-Cox, who shared her formula to Zero Debt Jean Setzfand, who spoke on the topic Planning for Retirement at ANY Age! Olivia Mellan, who shared strategies for dealing with money and relationships to achieve Money Harmony

A number of you said, “I wish I could have attended all 4 sessions.”We tried a new format, giving participants the opportunity to participate in 2 of 4 very special, extended sessions that we are unable to off er in the regular Money School schedule. From your comments, we know you would like to hear these speakers again.

Th e most common concern: Why isn’t this conference an annual event?

With DFLI’s small staff and its huge dependence on volunteers and funders to keep the event free, a conference in the even years works best. But stay tuned for lots of new topics and events in 2013…Th e Money ClubHouse, new this year, was a popular lunch spot. Many of you stopped by to learn more about the clubs and took the opportunity to talk personally with Candance and Ginita.

We had the opportunity to honor Meta McGhee and Paulette Sullivan Long. Meta and Paulette were the fi rst to reach the prestigious 500 hour Platinum Portfolio, which included signifi cant volunteer eff orts to DFLI and Th e Money School. Sadly, Paulette passed away before the Conference, but she knew she had reached her goal. In her memory and her honor, this level was renamed Paulette’s Portfolio and was awarded to Meta and Paulette. (Money School instructor Alisha Adams accepted the award in Paulette’s honor.) Meta was the recipient of the Sandra A. Varano Golden Purse Award, (named in memory of another devoted Money School student.)

In closing, I send thanks to all of you. You make my work at DFLI meaningful, rewarding, and fun. You all contribute to making Th e Money School a community of learners in a statewide school without walls.

Warm winter wishes for a happy, healthy, prosperous year…

Ronni

2012/13 - Issue 12012/13 - Issue 1

Pocket Pocket ChangeChange

In This Issue..In This Issue.... 3 In The Spotlight Mary Caraccioli

4 Student Loan Repayment

6 In The Spotlight Candace Bahr & Ginita Wahl 7 Delaware State Housing Authority 8 In The Spotlight

Olivia Mellan 9 A Clear Financial Future for Delaware Consumers

10 Chasing The Dream

11 Stand By Me 12 In The Spotlight Lynette Khalfani - Cox

13 Increase Your Buying Power

14 5 Things Every Woman Needs to know about SS Ben Shamburger

16 In The Spotlight Jean C. Setzfand

17 Westend Neighborhood House

18 Most Popular Baby Names Erin Donahue

19 Portfolios Conference

20 Back To School ... Already? Karen Graham

26 Meet The Staff

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Pocket Change Winter Issue 3

2012/13 - Issue 1

Options Counseling is a new service available as part of the Delaware Aging and Disability Resource Center (ADRC). Th e Delaware Division of Services for Aging and Adults with Physical Disabilities (DSAAPD) received federal funds to develop an ADRC. Th e focus of the ADRC is to serve as a “one-stop shop” for anyone with questions or needs for services for people with disabilities or who are aging. Th e thinking is that it’s better to ask questions and make plans before a crisis develops. At the crisis point, your time is limited and you are stressed. So, if you see that your mother or grandmother or husband is aging and starting to have some problems with maintaining a home or caring for themselves, or is about to be discharged from a hospital after a serious illness that has left them more limited, call and investigate your options to support their desire to remain in the community.

Most people, when asked, would like to continue living in the community they are familiar with, even when they acquire some limitations that might make that a challenge. Call the ADRC at 800-223-9074 or e-mail us at [email protected] or view our web sites at www.dhss.delaware.gov/dsaapd or www.delawareadrc.com for information about how to address your particular concerns. Topics addressed range from services in the home to living wills to Medicare issues to adapting your home to accommodate someone in a wheelchair, to name just a few.

An additional service we off er is called Options Counseling. If you feel it would be helpful to sit down with one of our case managers to fully discuss the range of options, we are able to do that. Call and request options counseling and the caseworker will set up a convenient time to sit with you and answer questions and review your options so you can make the best decisions for your loved ones. Th ere is no fee for this service.

The ADRC and

Options Counseling

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Pocket Change Winter Issue4

Helping people help themselves through Education, Financial Counseling and Debt Repayment

FOR IMMEDIATE RELEASE Contact Information: August 12, 2012 NANCY STARK

410.357.0614 (phone) 410.357.0613 (fax) [email protected]

STUDENT LOAN REPAYMENT:

An Investment in Your Future

Given the rising cost of tuition, few students can afford to pay for college without some form of educational assistance. If you have just taken on a student loan, have just graduated, or still owe on loans from years ago, here’s some timely advice:

Know Your Loans and Lenders

For each loan, list the lender website and who to contact, your loan balance, and repayment status. Many grads owe on a mix of public and private loans. If you aren’t sure who holds each of yours, find out. For information on federal loans, log onto the National Student Loan Data System for Students website (www.nslds.ed.gov). For private loans, look at your most recent billing statement or locate a copy of the original paperwork you signed. If this doesn’t work, contact the Financial Assistance Department at your school.

Keep Track of When Grace Periods End

The grace period is the time before you must begin making payments on the principal and interest on student loans. This deadline varies from loan-to-loan. For example, the grace period on Stafford Loans (most common federal loan) ends six months after graduation. Mark the grace period end date for each of your loans on a calendar. This will help you avoid missing your first payment.

Study Repayment Options

If you’re having trouble making student loan payments on time and in full, call your lenders and also do some research. Repayment options, such as income-sensitive and income-based repayment plans, may help you meet your obligation. You also may be

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During these energy-conscious times, many homeowners are wondering if their heating and cooling systems need a tune-up or, perhaps, replacement. One safe, clean and energy-effi cient way to heat your home this winter is with a heat pump.

Heat pumps use electricity to move heat from a cool space into a warm space. Because they move heat, rather than generate it, heat pumps can provide up to four times the amount of energy they consume.

During the summer, the heat pump serves as an air conditioner by absorbing heat from the indoor air and pumping it outdoors. During the winter, the heat pump absorbs heat from the outdoor air and pumps it inside – even cold winter air contains some heat.

Th e heat pump does require a backup heater that goes on automatically to provide additional heat when the outside air temperature is extremely low. Geothermal heat pumps seldom need a backup heater since they draw heat from temperature sources that are more consistent, or near constant, such as ground or a nearby body of water.

If you have a heat pump or are thinking about purchasing one, here are fi ve energy effi ciency tips to consider this winter:

5 Cool Ways to Stay Warm5 Cool Ways to Stay WarmBy Felecia Greer, Delmarva By Felecia Greer, Delmarva

Leave your thermostat at the lowest comfortable degree – setting it back 1. while you’re away and increasing it when you return is not an effi cient way to run the unit. When you attempt to reheat the house by increasing the thermostat by more than 2 degrees, the heat pump will overreact and the backup heater will come on, which is more expensive to run.

Don’t close cold air returns or heat registers or block them with curtains, 2. shades or furniture. It is important to leave supply and return registers open, even if the room is not in use.

Change or clean fi lters monthly and have the heat pump serviced yearly to 3. ensure it is running properly.

Clean and inspect the outdoor unit periodically to prevent any build up of 4. leaves and other debris.

Have a contractor check the level of insulation in your attic, basement 5. or crawl space. Additional insulation can reduce operating costs for both heating and cooling with a heat pump.


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When did you know business – and this particular business – was your passion?

Within the fi rst few months after starting my business, I knew it was my passion. I’ve always had an interest in the internet. When I started my business, it was almost all I could think about. Late nights and early mornings checking emails, doing website updates and talking to people about it. But, when I met people who said it made an impact in their lives…that’s when I was really hooked. Th at’s what continues to drive me to do what I do.

What personal characteristics and skills do you have to handle problems, stresses, and risk involved in your business?

I think my best quality for this business is patience. I’m ok working with those people who require a little extra time or who need a little extra explanation. As far as risk, I know I’m a risk taker. Is it better to take a risk and wish you didn’t OR not to take a risk and wonder what could have been…I’ll take the risk!

What advice would you give someone looking to become a small business owner?

Do your research!!! It can take a lot of commitment, time and money. If you think it’s all about write off s, taking Fridays off and making big money…think again. I didn’t start with a concrete plan. As I look back, I wish I had put better plans in place, where I could have worked smarter and not harder. Being a small business owner is HARD WORK!

Where and how do you see your business in the next three years?

2013 and beyond is going to be a great year for me. I’ve been doing some much needed strategizing, rebranding and team building. I’m looking forward to really building up our off erings here in Delaware, supporting our partnerships, providing some quality events and continuing our expansion outside of

Delaware. We currently have websites similar to Delawareblack.com in 6 other cities. In the next 3 years, we’d like to have community websites in 20 cities throughout the US.

ar business – was your passion?

i I k i i I’ l h d

Entrepreneur in the Spotlight

Leonard J. Young III www.DelawareBlack.com

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How do you handle the dream stoppers?

Th ey don’t really bother me too much anymore. I’ve learned that everyone can’t understand your vision, passion or dreams. Negative people are everywhere, I’ve just learned to tune them out and avoid them when needed. It’s a great feeling when you see some of the original dream stoppers and they’ve been converted to some of your biggest supporters!

Describe your business in 3-5 words?

Community * Media * Engagement

How would someone describe you as an entrepreneur?

Hopefully, people would describe me as an entrepreneur who is dedicated to what I do and that I put my passion before myself. Meaning, I try not to make my business about me… I always try to think about our customers and subscribers before I do things. I don’t think I’m better than anybody and I’m a down-to-earth person and try to be easily approachable. Most times I don’t even feel like an entrepreneur, I feel like a worker bee. Entrepreneur has such a grand ring to it, I’ll be there one day!

What are your personal goals?

Th is makes me think of my bucket list. Some of my goals in the next 4 years are to write a book, travel more and to be invited to the White House.

Are they the same as your business goals?

My business goals are a little diff erent. Th e main goal for my business right now is not about money or publicity, but is really to create a sound structure that will create a legacy for my children (if they plan to take advantage of it) and for the community. I would also like our business to include a radio, newspaper or TV component.

If you had to start this business over, would you?

Defi nitely…without a doubt! I think about that all the time and never second guess myself! I think I have been fortunate to select a business type (or it selected me) to which I am so comfortable giving 100%. I have been able to met some great people and form some great relationships.

Is there anything else you would like to share?

Just that I’m so thankful for the people who have supported my vision these last 6 years. Th e services that we provide aren’t just for the African American community, they’re for the whole community! We look forward to building some more great relationships in 2013!


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Your Club can earn points for various activities

Clubs will be responsible of keeping track of activities and points earned.

The 2013 Outstanding Money Club Award & runners up will be recognized at the 2013 Purses Celebration!

Want more info? [email protected]

Activity Points

Sending in monthly attendance forms 10

Registering club on Wife.org website 10

Completing and returning intake forms 20

Registering club through Christine (Leader Form and Club Info) 10

Sending in pictures, videos, and summary articles about what’s new with your club– club update for Pocket Change

10

Recruiting new leaders and new clubs 15

Exhibiting and spreading the word about Money Clubs 10

Hosting Money Club events open to all Money Clubs 15

Thinking outside of the box- how is your club different update 10

Attending DFLI Money Clubs events 10

Frequency

Per Form

One Time

Every 6 Months

One Time

Each Article Used

Each New Club

Per Exhibit

Per Event

One Time

Per Event

Above and Beyond TBD Per Activity

Point System Reference Sheet

Have a Money Club or Looking to Start one? Here is an opportunity for you & your club

to earn some CASH!


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INCREASE YOURINCREASE YOUR

BUYING POWERBUYING POWER

Need help signing up? Contact the Food Bank of Delaware’s SNAP Outreach team!

New Castle County:Scott [email protected](302) 292-1305 ext 252

Kent & Sussex Counties:Brenda [email protected](302) 424-3301 ext 107

www.fbd.org/SNAPOutreachThis institution is an equal opportunity provider and employer.

Stretch your budget with the Food Supplement Program (SNAP, formerly food stamps).

Nutritious foods are affordable with SNAP!

For more information visit, https://assist.dhss.delaware.gov


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With the cold weather here and spring just a little too far off to get fully excited about, it’s understandable that some of us are feeling the need for a little break. If only it wasn’t so pricey. With tax season coming and bills needing paid now’s not the time for indulgent spending…

But what if you could win on all fronts? Enjoy that much needed break without messing with your budgeting for the coming months – there may just be a way…

Here are some tips you might fi nd useful if you just have to get away

Travel Cheap - Th is is where planning is vital! Whether you’re vacationing locally or jetting off further afi eld, do your homework fi rst. Compare the price of gas, tolls and parking with ticket prices of other modes of transport – you may be surprised! Bear in mind, if your destination is somewhere you’ll need the car to get around once there, spending more on gas and tolls may be worth it for the later convenience. Flying? Wednesday between 11pm and 1am is the best time of the week for snagging a low fare. Driving? Hertz is one of my favorite spots for fi nding the best rates for rental cars. Bus? Taking the bus has taken a step up. Bus travel is much cooler since two low cost bus companies entered the scene. My favorite low cost bus service is Boltbus.com. Th e company doesn’t serve as many markets as MegaBus.com but I prefer their service and quality of the their vehicles.

Aff ordable Accommodation – When it comes to choosing where to stay there’s lots of great and cost-effi cient options. My favorite mobile app for get a great hotel room at the last minute is hotel tonight. Get their app athoteltonight.com. Th ey promise 70% off and

when I used it – they delivered! And there are more options. If you happen to be lucky

www.TheMoneyConfi dante.com

By Mary Caraccioli

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enough to have a friend with a vacation home why not ask if you can use it for a few days? Hopefully your friend will agree and you’ll see signifi cant savings! On the other hand, if you’re all about the hotel try and fi nd one that at least includes breakfast – it may seem like a small savings, but every penny counts. If your vacationing spot has a lot to off er and the only time you’re going to see your hotel room is when you stumble into bed after a good day’s sightseeing then consider staying at a hotel airport. Although these are situated a little further from the heart of the city they are – for this reason – considerably cheaper. Many will off er a free, regular shuttle service to get you downtown and back whenever you wish. Another frugal but fun idea is going camping! If you already own camping gear you’ll be spending very little when it comes to accommodation. If you aren’t already in possession of a tent, talk to friends and see if you can borrow one. Camping will transform your break into an adventure and the kids will love it too!

Weigh Your Options – Th ere’s a lot of diff erent options to consider before booking your trip so make sure you take suffi cient time to do so – even if you are desperate to get away! Often it’s too easy to log-on to a travel website and be sucked into whichever package deal is being off ered. While this can be a cost effi cient way of vacationing be sure to do some research fi rst – at times combining the costs of fl ights and a hotel can add up to a lot more than booking each aspect individually through diff erent sites. So make sure you take time to consider all the options available before you get click happy! It’s also smart to discuss your travel options with your friends – seek out advice and tips garnered from their trips and see if their experiences could work for you too. Waiting around for a last minute deal could allow you to aff ord a lot more for less. So if your plans are easily fl exible play the waiting game – you never know you might just snag an unbelievable deal! Check out off ers on deal-of-the-day websites such as groupon.com and livingsocial.com – you may well come across something that’ll work for you! I generally sign up for the city or region I am traveling to about 30 days before I go. I unsubscribe after the trip is over.

Budget Before You Go – Drawing up a budget of how much you want to spend while you’re actually away is an eff ective way of cutting out additional over-spending. As tempting as it is to buy a gift for everyone in the souvenir store and eat out every meal try to reign yourself in and consider how much you are spending daily. Looking into free activities, grabbing a drink at happy hour or preparing your own lunch are easy ways to stick to your budget. If you know you’ve got a table reserved at that great restaurant for your fi nal night, then you won’t mind opting for a pre-theater meal one of the other nights. I try to make my own breakfast when I travel. It saves a lot of money. Picking up some fruit, yogurt or packing my own oatmeal gets me going for a lot less than a restaurant or room service.


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From the 2012 Purses Conference Money Club House

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Th e Delaware Financial Literacy Institute (DFLI) is proud to be partnering with the Delaware Adolescent Program, Inc (DAPI). DAPI is an alternative fresh start for pregnant teens to receive services they need to continue their education during and after their pregnancy. DFLI provides Money Clubs at each DAPI location across the state. Money Clubs are designed to help individuals succeed and prosper fi nancially by using a peer coaching method. Using this method helps the students become accountable for their actions and provide a built in support system encouraging one another to reach fi nancial goals.

Our goal is to provide students with the tools to understand fi nances and work toward specifi c fi nancial goals. Some topics that are covered are goal setting, saving early and often, budgeting, and being a savvy shopper.

Th e Delaware Financial Literacy Institute is thrilled to collaborate with DAPI by helping students along the road to fi nancial freedom.

DFLI meets DAPI


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$Consider a Loans Plus or Security Deposit Loan to build your credit, stretch your moving dollars, or provide you with cash for that unexpected expense!

Low interest rates - 9.99% (Loans Plus) 4% (Security Deposits)

Great alternative to high interest payday loans!

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Budget review and case management assistance

Call 302-658-4171 to apply and ask for

Jessica Leventry or Sheila McLaurin


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Visit MyFreeTaxesDE.com to fi le your state and federal taxes TODAY using this easy, secure, fi ll-in-the-blanks, software program. If you need help with your return, MyFreeTaxesDE offers free help through a toll-free hotline

or live web chat.

Here are the rules:

FREE to taxpayers with household income at or below $57,000.•

All forms are available for households with multiple state returns.•

Fill in the blanks and your answers will populate your return.•

NEED HELP? Call 2-1-1 or 1-855-MY-TX-HELP.•

Too good to be true? No, it’s real! Please tell your friends, family •

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2012 Purses was FAB!

5th Annual

From Purses to Portfolios

Conference


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Organizing Tips from Ms. DeClutter

Need help getting organized call Ms. DeClutter at 302-339-3830 or email at [email protected].

Copyright © 2012, DeClutter Enterprise, LLC 302-339-3830 www.declutterenterprise.com

Kitchen

Take an inventory of what is in your pantry or cabinets. If items are expired dispose of them and replace only with needed items. Ask yourself why those items are expired. Keep foods categorized in pantry (like items together). Plan your menu for the week. Eat a light snack before going grocery shopping it will help reduce buying unnecessary items. Benefit: saves time and money.

Children’s Play Area

Canvas bins, decorative baskets or toy chests are great ways to storage kids’ toys in the play area. Set a timer or play music and let children know when music or timer stops all item must be put away. Make it fun. Benefit: promotes teamwork and responsibility.

Bathroom

Keep bathroom counters free of clutter. Utilize cabinets and drawers more efficiently. Use bins or baskets and categorize items so that you can easily find items when needed. You can also purchase draw dividers. Benefit: bathroom looks tidy at all time, easy to find items and you are more productive in the morning.

Paper Management

Purchase a shredder and keep it centrally located. As soon as the mail comes in (takes about 5 minutes or less) separate junk mail, recycle and immediately shred personal information. Visit website directmail.com National Do Not Mail List. Keep bills in one area to handle in a timely manner. Better yet pay bills on line it will help reduce the paper clutter. Benefit: no more stacks of mail on the kitchen counter,

reduce paper clutter and avoid late fees.

Time Management

Keep one calendar for all activities whether you use an electronic calendar or a physical calendar. Use a color code system to easily identify events. You can also sync your calendar to your phone. It’s always important to check your calendar every day. Benefit: less stress, no overbooking, and on time for those appointments.

Household Manuals

Get 3 ring binders, document protectors and place all household manuals in binders with warranty and receipts. Benefit: One stop location.

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Bills getting you down? Don’t know who to ask?CALL TOLL FREE

1-877-246-2026 • Speak to a credit counselor • Schedule an appointment

• Ask credit questions

Hassle FREE! No Cost!No Obligation!

JUST HELP!

Get your own FREE fi nancial coach.

Call 302.283.5562to schedule a meeting

A DFLI~Money School program with funding from the Delaware Financial Literacy Education Fund and in partnership with CCCS of MD and DE

and the Claymont Community Center.


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Last year, over 400 volunteers helped over 10,000 Delaware families receive $15 million in federal credits and refunds. With your help, we could do more!

Flexible Scheduling: we offer both day and evening hours; 6 days per week No Experience Needed: we give you all the tools and training you need Personal satisfaction from helping families dramatically boosts their income and

savings.

Be part of our team!

We have a variety of Volunteer Opportunities:

TO SIGN UP: VISIT www.nehemiahgateway.org

Sponsored by the Delaware EITC Campaign Founded and Operated by Nehemiah Gateway CDC

Nehemiah Gateway Community Development Corporation (NGCDC) is a 501(c) (3) non-profit organization whose mission is to transform lives and communities through economic opportunity, entrepreneurship and asset development. The organization was incorporated in 2000 and offers a variety of programs focused on increasing the financial well-being of its clients and the communities they live in including free tax preparation and access to financial services and workshops. NGCDC is a project of Shiloh Baptist Church, Delaware's oldest Black Baptist church.

201 W. 23rd Street Wilmington DE 19802 Phone: 302-655-0803 Fax: 302-655-8372

VOLUNTEER DURING TAX SEASON!

Financial Coordinator Opportunity:

Introduce clients to financial services and benefits of savings

Open bank accounts and pull credit reports

Refer customers to additional services and programs

Assist Site Manager with administrative duties

Greeter Opportunity:

Welcome customers to the site

Explain general eligibility guidelines

Coordinate intake process

Great for new volunteers, teens and seniors

Tax Preparer Opportunity:

Prepare individual federal and state tax returns

Maintain quality & security of confidential data

Ensure clients understand their tax returns

Generally no personal liability (covered by Volunteer Protection Act of 1997)

What’s in it for YOU?

Learn or develop a new skill Be part of your community Satisfaction and sense of

achievement New experiences Meet interesting people

If you can answer YES to any of these questions, WE NEED YOU:

I am comfortable using a computer I enjoy meeting & talking with

people I want to make a difference in the

lives of others I would like to learn a new skill

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The year is starting up, Valentines Day is here, and we are all caught up with the search for the perfect gift for our sweetheart. It’s time to take a minute to give yourself the gift

of a fi nancial check-up as well! If you haven’t checked your credit report this year, now is a great time to take a look. Go to www.annualcreditreport.com where you can see your credit report free of charge. Keep in mind that the three reporting bureaus allow you to view your report once per year at no charge. Remember, you cannot log back in to view your report once you retrieve it, so print it for your records. While you’re at it, sign up for creditkarma.com so you can monitor your credit all year!

Th ere are other ways we can stay in shape fi nancially through the upcoming year. Tax season is here! Find out if there are any free tax preparation sites in your area and begin to gather your documents. Also, take a look at your deductions to see if there are any you can use for 2012. Since you have most likely paid taxes from your paycheck, you want to be sure that you fi le correctly so not to give Uncle Sam more than his fair share. Beware of refund anticipation loans and refund cards from some tax preparing services. You should not pay anyone a dime to receive your tax refund. After all, you earned your money and there is no need to pay fees just to get it back.

Even on Valentine’s Day, there’s no such thing as a bad time to save. Make a budget, plan your spending, and pay yourself. Don’t have a savings account? Consider opening one at a local credit union or bank branch. As always, know your fi nancial situation so you can make wise decisions this and every year.

Time for a Sweet Financial Check-Up

By Jaclyn Lantieri, DCRAC


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$$$Pocket Change Winter Issue 27

Got A Bright Idea?Got A Bright Idea?Send Us Your SuggestionsSend Us Your Suggestions

infoinfo@@dfli.orgdfli.org

Saving tipsSaving tips• • Ideas for upcoming issuesIdeas for upcoming issues• •

Financial questionsFinancial questions• • Delicious low cost recipesDelicious low cost recipes• •

Low Cost CraftsLow Cost Crafts• • Spot light Your BusinessSpot light Your Business• •

Send your ideas to ...Send your ideas to ...


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DO YOU QUALIFY FOR EITC?

The Earned Income Tax Credit (EITC) is a refundable tax credit that may help you keep more of what you earned this past year. According to Consumer Credit Counseling Service of Maryland & Delaware Resource Development Manager Devon Hyde, “EITC is important for working families to know about, because it lifts more Americans out of poverty each year than any other federal policy. EITC also enjoys wide-ranging bi-partisan support; it is the largest, most successful government anti-poverty program.”

To qualify for the EITC, you must have earned income from employment, self-employment, or another source. You also must meet certain rules and file a tax return even if you don’t owe any tax or are not required to file.

You may be able to take advantage of the federal EITC if:

▪ You have three or more qualifying children and earned less than $45,060 ($50,270 if married filing jointly) in 2012.

▪ You have two qualifying children and earned less than $41,952 ($47,162 if married filing jointly).

▪ You have one qualifying child and earned less than $36,920 ($42,130 if married filing jointly).

▪ You do not have a qualifying child but earned less than $13,980 ($19,190 if married filing jointly).

The IRS may ask you to provide documents, such as birth certificates, school records, or medical records, to prove you are entitled to claim the EITC. The IRS has an online tool called the EITC Assistant that can help determine if you qualify for the benefit. To access it, simply go to www.irs.gov. The EITC Assistant is available in English and Spanish.

Hyde warns, “Each year many consumers who qualify for the EITC miss out because they fail to file a tax return.” If you need help filing yours, free tax preparation services may be available through the Delaware EITC Campaign (http://www.eitcdelaware.net/).

CCCS also provides free, confidential budget and credit counseling at its offices in Wilmington, Dover, and Claymont and by phone. We can help you determine where you stand financially, set up a budget, and explore ways to use the money you receive from EITC to increase your family’s financial security. To schedule an appointment, please call CCCS at 1-877-246-2026 today or visit our website at www.cccs-inc.org to learn more about what we do.

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Meet Meet DFLI’sDFLI’s staff . . . staff . . .

Back row: (From L to R) Shaquilla Holmes, Program Assistant; Karen Back row: (From L to R) Shaquilla Holmes, Program Assistant; Karen Graham, Senior Associate Director; Tami Schoenfeld, Associate Director; Graham, Senior Associate Director; Tami Schoenfeld, Associate Director; Nancy Dotsicas, Office Manager; Kiersten Joseph, Project Coordinator; Nancy Dotsicas, Office Manager; Kiersten Joseph, Project Coordinator; Christine Paski, Program Specialist. Front row: (left to right) Virginia Christine Paski, Program Specialist. Front row: (left to right) Virginia Russell, Citibank, N.A. & Former DFLI Executive on Loan & Ronni Cohen, Russell, Citibank, N.A. & Former DFLI Executive on Loan & Ronni Cohen, Executive Director Executive Director

QUICK QUIZ1. Who served in the Israeli Air Force?

2. Who was a Music major? 3. Who is a twin?

4. Who has danced at DisneyLand? 5. Who is a Pinterest fan?

6. Who owns a business in Newark?7. Who is excelling at Wilmington University?

1. Tami 2. Christine 3. Kiersten 4. Karen 5. Ronni 6. Nancy 7. Shaquilla

pocket change, winter issue 2013

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