Local Austin Mom Gets A Boost to Her Savings Account After Saving Tax Refund

///Local Austin Mom Gets A Boost to Her Savings Account After Saving Tax Refund

Sharon Jones, a 37-year-old single mom in Austin, just got a big boost to her savings account thanks to the local organization Foundation Communities of Austin and OpportunityTexas’ Tax-Time Savings Project.

Through its Tax-Time Savings Project (TSP), OpportunityTexas, CPPP’s joint initiative with RAISE Texas, partners with local organizations around the state, including Foundation Communities of Austin, to encourage tax filers to save a portion of their refund.  For many Texas families, their tax refund presents an important savings moment, with the average refund of a community tax center filer totaling more than $2,000.  In addition to encouraging filers to save, this year project partners including Foundation Communities also promoted the national savings sweepstakes, SaveYourRefund, administered by the D2D Fund.  Through this drawing, filers who saved a portion of their tax refund could enter for a chance to win a $25,000 grand prize.

Sharon, a Foundation Communities’ tax filer and TSP participant, won the grand prize.  The $25 gift card incentive offered through TSP encouraged Sharon Jones to purchase two savings bonds with a portion of her tax refund for her daughters’ education and enter the sweepstakes.  That’s quite a return-on-investment!

Jones is the mother of two daughters, who are 18 and 20 years old. She works at Austin Community College and will be starting at the University of Texas this fall to earn a bachelor’s degree in education.  She plans to use her winnings to pay tuition, finish the house she’s building through Habitat for Humanity, and save the rest.

OpportunityTexas is thrilled to have encouraged Sharon to save and win big as well as help over 1,300 Texans save over $150,000 through our Tax-Time Savings Project in 2014!

At the Center for Public Policy Priorities, we believe in a Texas that offers everyone the chance to compete and succeed in life. We envision a Texas where everyone is healthy, well-educated, and financially secure. We want the best Texas - a proud state that sets the bar nationally by expanding opportunity for all. CPPP is an independent public policy organization that uses data and analysis to advocate for solutions that enable Texans of all backgrounds to reach their full potential. We dare Texas to be the best state for hard-working people and their families.

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