Financial Literacy month, ABLE to Save month & more from Treasurer Smith!





Treasurer Smith: Protecting Iowa's Money





Newsletter



March 29, 2024





A favorite adage of Benjamin Franklin?s, ?A penny saved is a penny earned,? reminds us of the importance of saving, suggesting that saving even a little, can benefit us in the future. As we head into Financial Literacy month and ABLE to Save month, there?s so much to learn about saving and spending our pennies wisely. Enjoy!

Roby Smith
Iowa State Treasurer

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Making Financial Literacy Engaging for All Ages
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Making Financial Literacy Engaging for All Ages

Financial Literacy month, celebrated annually in April, is just a few days away. I am committed to providing Iowans with financial information and educational resources that are educational and entertaining. I?m excited to share our Financial Education and Empowerment page [ [link removed] ] has been revitalized and is full of new engaging games, lessons, book lists, financial calculators and more. With resources for ages 3 to 103 ? there?s something for everyone to explore!

Learning financial skills is for everyone, no matter your age. With lots of fresh activities and resources, we?ve got you covered with topics including savings goals, earnings, credit, budgeting and borrowing. My hope is these resources will help you incorporate financial literacy skills in your lives in a fun and engaging manner.

*Check it out!* [ [link removed] ]


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ABLE to Save = Financial Freedom
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ABLE to Save = Financial Freedom

Many individuals with disabilities are discouraged to save money for fear of losing their crucial federal benefits. IAble, Iowa?s Achieving a Better Life Experience (ABLE) plan, is proud to help them overcome this barrier.

To celebrate ABLE to Save Month in April, my team has partnered with the Iowa DD Council [ [link removed] ] to provide a free webinar on IAble. We will cover important topics like eligibility, ABLE to Work, investment options and Qualified Disability Expenses. Plus, hear from real Account Owners on their experiences!

Join us April 2 from 5-6 p.m. for a webinar [ [link removed] ] to learn more, and make sure to bring a friend and share with those you know.

IAble webinar

Free Webinar April 2, 2024 from 5-6pm

*Reserve your spot today* [ [link removed] ]






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Saving Now for Future Education Costs Just Makes "Cents"
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Saving Now for Education Costs Just Makes "Cents"

I?ve heard it time and time again from parents and grandparents of young children, ?It?s too early to start thinking about saving for education.? However, saving as early as possible for future education costs, even small increments over time, could have a huge payoff down the road!

With the power of compounding ? which is where you earn money on your investments and then earn money on "those" earnings ? you could maximize your savings by starting earlier rather than later. That?s the beauty of compounding!

The following image highlights how compounding could benefit a Participant starting to save at various ages of a child to be used at age 18.

Monthly Investment

Chart explaining three different scenarios for saving. Family A: $5,000 initial contribution when child is a newborn + $100 monthly contributions + $26,812 in earnings = $53,412 total savings. Family B: $5,000 initial contribution when child is 6 + $100 monthly contributions + $11,895 in earnings = $31,295 total savings. Family C: $5,000 initial contribution when child is 12 + $100 monthly contributions + $15,823 in earnings = $15,823 total savings.

The hypothetical borrowing example doesn?t represent the performance of any particular investment. The assumed 6% rate of return is for illustrative purposes only. Actual market returns will fluctuate annually and aren?t guaranteed. The ending balance doesn?t take into account any taxes or penalties that may be due upon distribution.

*Learn more about the benefits of saving* [ [link removed] ]


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Robert D. Blue Scholarship Available to Iowa Students
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Robert D. Blue Scholarship Open to Iowa Students

The 2024 Robert D. Blue Scholarship application is now available online at rdblue.org [ [link removed] ]. Applicants must be a current senior or former graduate of any Iowa high school who plans to attend a college or university within the state. Awards are based on financial need, an original essay, academic achievement and recommendations.

The Robert D. Blue scholarship is made possible by the Iowa Centennial Memorial Foundation. Any Iowa student who plans to attend an Iowa college or university is eligible for this award.

*Applicants Requirement*


* Iowa resident
* Plan to attend an in-state college or university during the 2024-2025 academic year

*?**Application Materials *


*

Two recommendations letters


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500-word essay

*?*Iowa students who wish to apply for the scholarship are required to complete the application must do so online and are due May 10, 2024. Visit rdblue.org [ [link removed] ] to apply and learn more.

*Visit RDBlue.org to apply* [ [link removed] ]


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In Case You Missed It
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In Case You Missed It

National Unclaimed Property Day, held annually on February 1, saw big returns to past and present Iowans that found their names in the Great Iowa Treasure Hunt! We celebrated the big day with a social media campaign highlighting properties from various counties around the state. Did you miss out on Unclaimed Property Day? You don?t have to wait for next year?s celebration to search for your name or the names of family and friends. Visit GreatIowaTreasureHunt.gov [ [link removed] ] to search today!

UP Day 2024

From January 29 - February 4: Number of Claims = 6,652; Value of Claims = $2,904,640.82; Largest Claim = $280,101.56

*Start your search* [ [link removed] ]








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