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Massachusetts residents can build assets by managing their money, buying a home, getting more education, training for a job, claiming the earned income credit, and investing their money wisely. Resources to help residents reach their goals and gain financial independence are available in cities and towns throughout Massachusetts.
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Building Assets
- IN MASSACHUSETTS -
Click on a topic for more information:
Managing your money helps you increase your savings and establish good credit. You can reach your financial goals if you follow a budget, save as much as you can, and use credit wisely. Banks, IDAs, and financial counseling services in Massachusetts can help you.
| Free help for people at risk of foreclosure: If you are having trouble making your mortgage payments, you can get free help. Foreclosure counseling agencies will review your mortgage and finances with you, discuss your options, and help you find a solution. You might be able to refinance your loan, or negotiate with your lender to make your payments more affordable. See Foreclosure Prevention Programs for more information. |
Buying a house is one way that Massachusetts residents can build assets. Homeownership is a big commitment, however. Before you buy, you should make sure that homeownership is the right choice for you. Massachusetts homebuyer agencies and classes can help you plan for your purchase, find the right house, get an affordable mortgage, and maintain your home.
The Earned Income Tax Credit (EITC) is a way for low income workers to get extra money back at tax time. The Earned Income Tax Credit can lower your taxes, or even give you a refund. Your Earned Income Tax Credit might be the largest single payment that you get all year. You should plan how to use it wisely. You can use part of it to pay bills or buy things that you need right away. You can use the rest to build your assets and save for long-term financial goals.
Investing your savings in a smart manner can be very important in building your financial assets for the future. Individuals can invest their savings by purchasing shares of stock in companies, bonds, mutual funds, and other types of assets.
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