Results tagged as "saving"

  • 7 Must-Read Articles to Put Your Kids on the Right Financial Path

    By Linda Descano, CFA®, Managing Director and Head, Content & Social, North America, Citi April 15, 2014 12:11 PM

    In support of National Teach Children to Save Day, Citi conducted a national survey of over 1,500 parents to explore the way parents are teaching their children about the value of money. You can read the press release announcing the results here.

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  • 3Ps for Ending Spring on a Fresh Financial Note

    By Linda Descano, Managing Director and Head, Content & Social, North America, Citi April 08, 2014 11:24 AM

    Tax time is a great opportunity to review your finances and get yourself organized for the year ahead. At our recent Financial Spring Cleaning Google+ On Air Hangout, bloggers Kristen Chase, CEO and Publisher of Cool Mom Picks; Meg Favreau and Lars Petersen from Wisebread; and Sarah Kaufman, editor-in-chief of The Manilla Folder shared their ideas on what you and I can do now to set ourselves up for financial success in the year ahead, which I distilled into these 3 actions.

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  • 5 Ideas to Supercharge Your Retirement Savings

    By Linda Descano, Managing Director and Head, Content & Social, North America, Citi February 18, 2014 11:46 AM

    While 69% of American consumers are optimistic that their personal financial situation will improve over the coming year, many remain concerned about their current level of saving for retirement, according to the results of a recent Citi national survey conducted by Hart Research. In fact, next to health care, retirement ranked #2 of financial issues keeping Americans awake at night.

    Saving enough for a comfortable retirement can seem utterly daunting. But there are ways to supercharge your retirement savings. Here are 5 ideas to consider:

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  • 5 Practical Financial Resolutions for 2014

    By Linda Descano, Managing Director and Head, Content & Social, North America, Citi December 30, 2013 09:26 AM

    According to the results of a recent Citi national survey conducted by Hart Research, American consumers have become financially savvy, taking many steps to get their financial lives under control in 2013. With New Year's Eve on the horizon, Americans of all ages also are resolving to do more to improve their financial situation in 2014. When we asked about what was on their financial to-do list, most were making practical resolutions, with the top 5 resolutions cited as:


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  • Three Reasons to Give 529 Plans a Second Look

    By Jonathan Clements, Director of Financial Education, Citi Personal Wealth Management July 03, 2013 11:58 AM

    After the 2007-2009 stock-market plunge wreaked havoc with the performance of some 529 college-savings plans, there were fears that parents would take their education savings and go elsewhere. But in fact, assets in college-savings plans increased 25% in 2012 to more than $166 billion, according to Morningstar, Inc.

    This comeback isn't entirely surprising, given the stock-market rebound since early 2009. But even without strong market performance, 529 college-savings plans remain an intriguing choice--for three reasons.

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  • If You're House Hunting, Consider These Five Tips

    By Jonathan Clements, Director of Financial Education, Citi Personal Wealth Management May 08, 2013 05:09 PM


    After years in the doldrums, the U.S. housing market is finally showing signs of life. Looking to buy a home? Here are five tips to keep in mind:

    1. Save 20%. To avoid taking out private mortgage insurance, you typically have to put down 20% of a home's purchase price. If you're in your 20s and fairly new to the workforce, it can be hard to scrape together that 20%, unless you get help from your parents or elsewhere. Still, save as much as you can. The more you put down, the easier it should be to get a mortgage.

    2. Check your credit. Your ability to borrow will depend not only on your income and the size of your down payment, but also on your credit score and credit history. To get a free copy of your credit report from the three major credit bureaus, go to AnnualCreditReport.com. If there are any errors in your credit reports, try to get them corrected before you put in your mortgage application.

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  • Expanding Financial Inclusion: Microfinance

    By Fermin Vivanco, Maria Luisa Hayem and Andrea Reyes, Access to Finance Unit, Multilateral Investment Fund, Inter-American Development Bank April 29, 2013 01:30 AM

    Access to reliable and affordable financial products is critical when it comes to saving money for education, protecting against setbacks, or borrowing to start a business. Globally, more than 2.5 billion people are unbanked or underbanked, lacking access to the financial services necessary to engage in the local economy and safely conduct basic transactions. Solutions to many of these challenges come in the form of microfinance institutions (MFIs) that help provide access to specialized financial products.

    A common dilemma faced in the sector is how to offer savings products that are both attractive to and appropriate for the most vulnerable populations, but that financial institutions can also support from a business perspective.

    The ProSavings Program, created in 2011 by the Multilateral Investment Fund (MIF) at the Inter-American Development Bank (IADB) with support from the Citi Foundation, checks both boxes. The innovative program works with financial institutions to create tailored savings products for recipients of government payments, upon which many low-income families rely, in Latin America and the Caribbean.

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  • Citi Creates College Savings Accounts for San Francisco Kindergarten Students

    By Jose Cisneros, Treasurer for the City and County of San Francisco April 24, 2013 10:12 AM

    It's clear that parents know that college is important in this day and age--but they still face the challenge of being able to pay for their child's education.

    Think about these statistics: according to research by The Sallie Mae Fund nearly nine out of 10 (87 percent) parents expect their child to go to college; less than 1 percent do not. And, this research showed that most parents (75 percent) said that a college degree is necessary to get ahead in today's world. However, the price of college has increased 1,120% in the last 30 years (Bloomberg).

    Enabling parents to pay for their child's education is exactly why the City and County of San Francisco worked with Citi Community Development to create a Kindergarten to College program (K2C). Through this program, a kindergartner receives a college savings account containing its first $50 deposit that, if added to regularly, can become a 12-year head start towards college tuition.


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  • Expanding Financial Inclusion: Housing

    By Jose Quinonez, Executive Director, Mission Asset Fund April 05, 2013 05:54 PM

    Twenty five million people in the United States have no credit score. Without a credit score, these individuals cannot get a loan to buy a car, start a business, or secure housing --all crucial to increasing a person's economic stability and the ability to contribute to his or her community. Housing is a basic need, which is why Citi continues to work with partners like Mission Asset Fund to make access to affordable housing a keep component of our shared efforts to broaden financial inclusion.

    MAF's core focus is helping the unbanked access loans and build credit scores by formalizing loans traditionally created among peer groups outside of the mainstream banking system. The idea is simple: groups of people create lending circles that allow each member to chip in and give one participant a lump-sum, zero-interest, zero-fee loan. To date, MAF has managed more than $1.5 million in loans over four years with a default rate close to zero.

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  • Spotlight on Financial Inclusion

    By Pam Flaherty, President & CEO of the Citi Foundation and Bob Annibale, Citi's Global Director of Microfinance & Community Development April 02, 2013 01:38 PM


    More than two billion people around the world do not have access to basic financial services
    such as savings accounts, lines of credit and insurance products. This lack of formal access means that nearly a third of the world's population is unable to create a financial safety net for their families, withstand financial setbacks, build financial identities, and take their first steps towards sustained economic stability. Combined with ongoing uncertainty about the global economy, it's clear the need for innovative solutions is immediate.

    Citi's efforts around financial inclusion focus on identifying opportunities and partners to connect those outside the financial system with access to basic financial capabilities and services. Broadly speaking, financial inclusion covers a multitude of initiatives that lower financial hurdles for the unbanked and underserved. Through Citi's core business expertise and global network, Citi Microfinance's specialized business partnerships and product innovation, and through the work of the Citi Foundation to fund pioneering initiatives, we strive for creative solutions that foster financial inclusion in collaboration with our many strategic partners.


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