SaverLife Savings Program (Guaranteed $60 Reward)

A part of all you earn is yours to keep. It should be not less than a tenth no matter how little you earn

 

The Richest Man in Babylon by George Clason

SaverLife Savings Program, formerly Earn savings program,  is a non-profit organization that help families save and invest to build wealth.  The program lasts six months and for every month you save $20, a $10 reward is set aside for you to redeem when the program ends.  To see if you qualify for this program, please click here.  I sent an inquiry regarding income qualifications and tax implications to the program’s support team and you can see the answer to my question in the picture below.

Income Requirement Update (1/24/19)

Earlier today I received an e-mail from Shana Beal, who is the Director of Communications for the program, informing me that the income qualification to participate in the  for the program has been removed!


Tax Implications

According to TurboTax Support, the $60 reward you receive is taxable.  Please report it on line 21 of your 1040.

Fun Fact

*If you are curious about what the median income is for your area, please click here!*

Savings Program

I enrolled in the program six months ago and redeemed my reward this morning!  Last month I took some money from my savings account and forgot to transfer it back so I did not get the full $60 rewardThe $50 reward I earned will be used toward the purchase of one of my holiday gifts.

Follow by Email49
Facebook
Facebook
LinkedIn
Twitter
Google+
RSS
Pinterest
Reddit

Author: Jerry

Jerry is a Business Insider Contributing Writer who is obsessed with personal finance. He believes you can improve your financial situation by applying principles taught by the financial independence community to your financial life.

If you are having trouble saving, he recommends that you join the SaverLife Savings program where you can get a $60 reward after six months (no income requirement). All you have to do is put a minimum of $20 a month into a savings account. Easy, right?

For a fun read, check out his article 10 Signs You’re a Personal Finance Addict to see if you are a personal finance nerd.

Before you go, check out the new From Broke to Financially Woke Interview Series.

Also, please subscribe below if you found his content valuable and want to continue following him as he documents his own journey from Broke to Financially Woke!

Subscribe to be one the first people to get updates as I continue to document my journey from broke to financially woke 🙂

What’s your financial story? Email me at peerlessmoneymentor@gmail.com.

Leave a Reply

Your email address will not be published. Required fields are marked *

Name *

CommentLuv badge

This site uses Akismet to reduce spam. Learn how your comment data is processed.