Financial Empowerment Resources for New Yorkers

Financial literacy empowers New Yorkers with skills, knowledge and education to make informed decisions with their money. In the wake of economic hardships caused by the pandemic, inflation, and higher interest rates, financial literacy is more vital than ever. State Comptroller DiNapoli’s financial literacy initiative provides regular updates with information and resources on financial concepts, such as budgeting and saving, so New Yorkers can make better short- and long-term spending decisions and protect themselves from scams.

Prepare for Education Costs with NY’s 529 College Savings Program

It’s never too early or too late to think about saving for a loved one’s future education costs! The State Comptroller and the New York State Higher Education Services Corporation co-administer NY's 529 College Savings Program, which allows you to open a tax-free account to fund a range of eligible educational programs, including:

• Post-secondary trade and vocational schools
• Two and four-year colleges
• Private educational institutions
• Registered and certified apprenticeship programs

Save for Disability Related Expenses with NY ABLE

New York's Achieving a Better Life Experience Program (NY ABLE) is a tax-advantaged savings and investment plan that helps individuals with disabilities achieve greater financial security and a better quality of life by allowing them to save for qualified medical and living expenses, without limiting their ability to benefit from Medicaid, SSI and certain other means-tested benefit programs.

For details about how to qualify for tax benefits, please review the Disclosure Booklet and Participation Agreement.

Build a Strong Financial Foundation

It’s always important to take control of your own personal finances and to teach children about sound financial practices. Financial Literacy is a skill with lifelong benefits. Kids as young as preschool age can learn how to handle money, budget and save. Here are two resources that provide a wide range of personal finance information that could help you now and in the future:

• Financial Counseling and Credit Protection (Federal Reserve Bank of New York)
• Money Smart for Young People (Federal Deposit Insurance Corporation)

Assistance for Seniors

• To check your eligibility for government services visit: www.usa.gov/benefits
• NYC Department for the Aging: https://www.nyc.gov/site/dfta/index.page
• For help, seniors can contact the NYS Office for the Aging by visiting: NYS Office of the Aging or calling 1-844-697-6321

Assistance for People with Disabilities

• NYC Mayor's Office for People with Disabilities
• NYS Office for People with Developmental Disabilities or call 1-866-946-9733 or (TTY 1-866-933-4889)
• Social Security (Social Security Administration) or call 1-800-772-1213 or (TTY 1-800-325-0778)

Assistance for Veterans

For help, please check with Federal and State resources:

• Federal: U.S. Department of Veterans Affairs | 1-844-698-2311
• State: NYS Division of Veterans' Services | 1-888-838-7697
• New York City: NYC Veterans Alliance

Assistance for Active Military

• Military OneSource is dedicated to providing timely resources, information and answers to address the health and financial impact of COVID-19 on the military community. For more information, please visit: Military OneSource (U.S. Department of Defense) or call 1-800-342-9647.
• The Department of Defense has launched an initiative to assist military spouses with financial readiness. For more information, please visit: MilSpouse Money Mission (U.S. Department of Defense)

Income Tax Credits and Refunds

To check on the status of your income tax refunds, visit:

• New York State refund (NYS Department of Taxation and Finance)
• Federal refund (Internal Revenue Service)

NYC Resources

• Get Free Financial Counseling (NYC Consumer Affairs) – NYC Financial Empowerment Centers provide free one-on-one professional, financial counseling and coaching for NYC residents.