Personal Finance and IDA Accounts

Personal Finance is hard for everyone-especially the working poor. An obscure account called the Individual Development Account is helping those in the poverty level.The program is getting a new push by the Federal Reserve. The idea is to help people move out of poverty or up the financial ladder by starting a business, buying a home or accumulating savings. The accounts offer a one-to-one, two-to-one or better match for every dollar saved. The matches typically come from the government or private sources. I like the idea of helping those who are helping them selves-Pretty Cool program. On March 14, the Kansas City Fed will host the next in a series of forums on asset building, more details here.

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