November 2018 Newsletter
RAISE Texas News
Join us at our Upcoming RAISE Texas 10th Anniversary Summit- Register Today!
RAISE Texas and the Federal Reserve Bank of Dallas invite you to the RAISE Texas 10th Anniversary Summit, "Increasing the Financial Health and Resilience of Texans." This event will focus on the tools, programs and services available to help Texans take control of their finances daily, provide opportunities to invest in their future and increase their ability to get through every season of life.
Sessions will include:
• Resilience Through a Racial Equity Lens
• Responding to the Wealth Gap: A Texas Perspective
• Large Scale Savings Initiatives
• A New Financial Coaching Platform for Texas
• Increasing Access to and Success of Postsecondary Education
• Cross-Sector Partnerships
• Disaster Response to Increase Financial Resilience
• Increasing Financial Resilience Through Financial Capability
View more sessions, speakers, accommodations and the full agenda.
Pre-registration is required so click here to register now!
Last Chance to Save Money and Become a RAISE Texas Member
Summit Scholarships Available- Apply by Friday, November 9
Thanks to generous funders, RAISE Texas will be providing lodging and/or registration scholarships to Texas nonprofit groups involved in asset building to attend the 2018 RAISE Texas 10th Anniversary Summit on December 5-6, 2018. We would like to thank JPMorgan Chase and BBVA Compass for their grants and support for this summit’s scholarships.
If you are interested in applying for a scholarship, please click here to download the Scholarship Application. Complete the Scholarship Application and email it to Lgates@raisetexas.org by November 9, 2018. No applications will be accepted after November 9. Scholarship applicants should NOT register for the summit until they hear from RAISE Texas.
Blast from the Past: RAISE Texas Work in 2017
In 2017, RAISE Texas was a key partner in the passage of state legislation to allow credit unions and banks to offer prize-linked savings. With the passage of this bill and its companion bill a constitutional amendment on last year’s ballot, it gives banks and credit unions the ability to offer chances to win cash prizes for Texans who are making deposits into a savings account. For more information about the prize-linked savings opportunities in Texas, join us at our upcoming RAISE Texas 10th Anniversary Summit to hear from the experts! For more information about our work in 2017 and the other 10 years click here.
Racial Wealth Divide Initiative Profile on Dallas
Thanks to funding by JPMorgan Chase, Prosperity Now’s Racial Wealth Divide Initiative recently released the profile to better understand how racial economic inequality affects Dallas, Texas. Click here to read the findings.
Concerns about Inequality in the U.S.
New blog post shares the concerns of Moody’s Investors Service, a private watchdog for the federal government’s fiscal soundness, about the high level of U.S. inequality. Concerns include how inequality will affect the federal budget, and inequality is a drag on the economy. What are the reasons for the widening inequality? Click here to read the entire blog.
Almost Half of Millennials Spend More on Dining Out than Retirement
New survey by LendEdu shows the low priority that millennials give to saving, even on retirement! Almost one in three millennials spend more on alcohol or new clothes than on retirement savings. And, one in four spend more on streaming services such as Netflix and Spotify than on retirement. Now more employers are helping their employees save for retirement by automatically signing workers up for the company retirement plan. With 92 percent of workers in their mid-20s to mid-30s that have auto-enrollment are contributing part of their savings to their 401(k) plans, it seems like this is a successful strategy. Click here to read more.
New Report on CSA Research
IASP researchers Becca Loya and Jessica Santos and Prosperity Now’s Shira Markoff created a Quick Guide to CSA Research: An Overview of Evidence on Children’s Savings Accounts. This guide summarizes existing evidence on interim and long-term effects of CSAs on postsecondary education, health and wellbeing, equity, and financial capability outcomes for families and communities. It also shows the effects of CSA design features on savings, participation and account accumulation. Click here to access the guide.
Videos Show how to Talk to Kids about College and Paying for College
As the average student loan debt continues to climb, Beth Kobliner, a personal finance speaker and journalist, recommends talking to your teenager early and often about what they will be getting into if they borrow money for college. To make these conversations easier, Beth put together a new series of helpful videos to show parents how to talk to their children successfully. Find more information about these new videos here.