Financial Resources

Financial Resources


Below you will find resources to help with financial issues such as money and debt management, personal or family budgeting, and financial aid. 

Money Management

  • UVA FEAP - FINANCIAL COUNSELING

    About

    The UVA Faculty and Employee Assistance Program contracts with an outside firm to provide employees a free, 30 minute consultation with a financial counselor on a variety of financial issues. Consultation topics include, but are not limited to: 

    • Budgeting Techniques 
    • College Funding 
    • Corporate Bonds 
    • Credit After Bankruptcy 
    • Credit Cards with Lower Interest Rates 
    • Credit Repair Scams 
    • Credit Reports 
    • Debt Counseling 
    • Divorce Planning 
    • Insurance Buying Strategies 
    • IRA Rollovers 
    • Medicaid 
    • Medicare 
    • Money Market Accounts 
    • Mortgages 
    • Retirement Planning 
    • Reverse Mortgages 
    • Saving for Financial Emergencies 
    • Social Security Benefits 
    • Small Business Financing 
    • Student Loans 
    • Tax Issues 
    • U.S. Savings Bonds 
    • Utility Bills - Late 

    Eligibility

    All UVA employees and their immediate family members.

    Contact

    Contact FEAP for a referral to the financial counseling service: 434.243.2643

  • DEVELOP YOUR PERSONAL BUDGET AND START MANAGING YOUR MONEY

    About

    Its easy to spend too much if you don't know how much money you have or how much you have spent.  Developing a budget lets you

    • track how much money you have
    • know what money is coming in, when it goes out, and how much you have left
    • make smart decisions about how to spend

    By downloading our budget template and following the instructions below, you will be on your way toward making educated decisions about how you spend your money. Planning in advance will enable you to be thoughtful and smart about how you spend, and can identify areas where you might want to cut back on spending or where you can save some money.

    As important as this is, it can be hard or confusing.  If you would like some personal help, contact Stuart Munson at scm5rw@virginia.edu or 434.243.2672; he will be happy to help you!

    Instructions

    Step 1 – Click on the Make A Budget form
    You can fill this out on the computer or print it out and fill it in with a pencil. 

    Step 2 – Complete the My income this month section 
    Completing this section will tell you how much money you have to spend

    • Paychecks box - Put the actual amount you took home from your last UVA paystub – in the first light blue income box on the top right of the form
    • Other income box - Combine all the other money you take home from other sources, such as a second job
    • Now add them together and put the total in the third white box. This is the all the money you have to spend in a month without borrowing any

    Step 3 – Complete the Housing Expenses section 
    Completing this section will tell you how much you need to spend each month on where you live

    • Rent or mortgage box – Put the amount you pay your landlord or mortgage company each month in the first blue box
    • Renter’s insurance or homeowners insurance box – If you have insurance to help you pay for things broken, stolen or destroyed where you live, or have insurance to pay you back if your house is damaged, put that amount in the second blue box 
    • Utilities box – Add up all the money you pay electricity, heat, water, trash – any bill you pay monthly to keep your home running
    • Internet, cable and phone box – add all these together and be sure to include the bills for the phones for everyone in the family

    Step 4 – Complete the Food section 
    All the money you spend in a month on food of any kind as well as cigarettes, etc.

    • Groceries and household supplies – put the amount you spend at the grocery store on food, soap, shampoo, cleaning supplies, etc.
    • Meals out – Include all the money you spend on fast food, food at convenience stores and ready to eat food from any location.
    • Other food expenses – Include any other money you spend on anything you eat in this box – snacks you don’t buy at the grocery store, cigarettes, etc.

    Step 5 – Complete the Transportation section 

    • Public transportation and taxis – this section should include money you spend for Uber, buses, etc.
    • Car loan – Put the amount of your car loan payment in this box.  If you think it is too high, ask about getting a lower interest loan from the UVA Credit Union
    • Other transportation expenses – Any other money you spend on getting around every month should go in this box, things like money you give friends for taking you somewhere, etc.

    Step 6 – Complete the Health section

    • Other health expenses – any other money you spend on keeping yourself healthy every month should go in this box

    Step 7 – Complete the Personal and Family section

    • Money given or sent to family – this is where you include the money you give your kids or other family members regularly. If you don’t know for sure, take your best guess
    • Laundry – estimate how much you pay at the laundromat if you do not do your wash at home
    • Other personal or family expenses – include all the money your family pays to get their hair done or cut, nails done, etc.

    Step 8 – Complete the Finance section  
    All the money you spend managing money goes in in this section

    • Prepaid cards and phone cards – If you already included what you pay for phone cards in the “Internet, cable and phones” box, don’t put it in here again.

    Step 9 – Complete the Other section 
    this is where any other money you spend regularly goes that does not fit in anywhere above

    Step 10 – Add up all the numbers below where it says  “My expenses this month” and put that total in the white box across from “Total monthly expenses”.  Also put that number in the white box below it above the word “Expenses”

    Step 11  - Seeing how you are doing
    Take the number across from where it says “Total monthly income” at the top of the form and put the same number in the white box at the bottom of the form above where it says “Income”.  Now take away/subtract the Expenses number from the Income number. 

    • If the number is positive, your family is not spending as much as everyone brings home so you have money left to spend or save
    • If the number is negative, your family is spending more money you bring in and you are going in debt. If this is happening you can do a couple of things
      • Look back through your expenses and see how you are spending your money. Are there places you can spend a little less? 
      • Could members of your family contribute some money?
      • Look at your expenses and set limits on how much you want to spend in each area, think about how you want to spend that money, and when you hit that amount, stop spending.

    If you would like free help doing any of these things, or help improving your credit or paying off debt, contact Stuart Munson, who will be happy to help you! Scm5rw@virginia.edu or call 434.243.2672

    "MAKE A BUDGET" TEMPLATE
  • UVA COMMUNITY CREDIT UNION - MONEY MANAGEMENT RESOURCES

    About

    UVA Community Credit Union offers a number of services to help with money management, including: 

    Education Library 

    A resource for online education materials, including the Home & Family Finance Resource Center and It's a Money Thing program!

    Guide to Balancing Your Checkbook 

    Sooner or later, anyone having a share draft/checking account learns that an essential part of managing a checkbook is balancing it. This is an easy task if kept up-to-date, but a nightmare if not. 

    Steps to Creating a Budget 

    Budget Blueprint encourages consumers to develop their own spending plans. This easy-to-use budget work sheet will help you see where your money is going and will help you adjust your spending where needed. The new online format allows you to input expenses and income while listing individual savings goals. It's a quick way to see where you are financially and plan for where you want to be.

    Debt Reduction Strategies 

    Review a list of articles, calculators, videos, and news to learn more about debt reduction strategies. 

    Effective Strategies for Saving 

    Review a list of articles, calculators, and news on effective strategies for saving and investing. 

    Personal Financial Manager 

    Central Finance is a personal financial management tool designed to allow users of UVA Community Credit Union Online Banking to manage financial accounts including checking, savings, credit cards, loans, and investments attached to multiple financial institutions all in the convenience of one safe and secure online site. 

    Eligibility

    Anyone who lives, works or attends school in the greater Charlottesville area may join.

    Contact

    Phone: 434.964.2001

    Or visit the website below for branch locations

    UVA COMMUNITY CREDIT UNION WEBSITE
  • PIEDMONT HOUSING ALLIANCE - HELP WITH BUDGETING AND MANAGING CREDIT

    About

    Piedmont Housing Alliance counselors can help you in planning out your monthly and yearly income, expenses and savings.

    They can also help you understand what is in your credit report. You need to bring a copy of your report from www.annualcreditreport.com to your first appointment or a report and FICO scores can be pulled for you for a fee of $25 per report. 

    Without any expense to you, a counselor can also help you understand how to build credit. 

    Contact

    Fill out and submit the intake form and a counselor will contact you to get started. 

    Or call: 434.817.2436

    PIEDMONT HOUSING ALLIANCE PERSONAL FINANCE RESOURCES
  • FTCCI - ONLINE INFORMATION ABOUT MANAGING DEBT

Retirement Funds and Savings Accounts

Other Financial Assistance Resources

  • UVA Employee Assistance Fund

    About

    The UVA Employee Assistance Fund (EAF) serves as a resource for UVA Academic employees who experience a financial hardship due to an unexpected and non-recurring need. The EAF can assist eligible employees in meeting basic needs when no other sources of monetary support are available through providing grants and financial counseling to the employee.

    UVA employees within the Academic Division and the College at Wise can submit a request for funding from the EAF for help meeting unexpected, one-time basic needs, such as those related to housing, utilities, food, and transportation. These requests can be easily submitted through Workday. 

    View more information.

    Eligibility

    • Eligible employees working 20 hours or more per week within the UVA Academic Division and College at Wise are eligible for the Fund.  
    • The employee must have a minimum of one continuous year of service.
    • Employees must not have any disciplinary actions that resulted from violating UVA Standards of Conduct policy within the past twelve (12) months.

    Contact

    Please read details on applying or donating to the Fund on the EAF website.

    If you have questions, contact Stuart Munson, UVA Community Resource Specialist:

    Phone: 434.243.3673
    Email: scm5rw@virginia.edu

    Fund Details
  • UVA HEALTH PATIENT FINANCIAL SERVICES

    About

    UVA Health Patient Financial Services can help you find financial aid to cover your medical expenses, such as through UVA Financial Aid or the UVA Discount Program. Financial aid services are free. 

    Eligibility

    Eligibility requirements include: 

    • You do not have health insurance or workers’ compensation 

    • You are not negotiating a personal injury settlement with a third party that pertains to the reason you were seen 

    • You do not qualify for any other financial assistance program 

    Contact

    Phone: 434.924.8718 or 866.320.9659

    Email financialassistance@virginia.edu

    UVA HEALTH PATIENT FINANCIAL SERVICES WEBSITE
  • ALLIANCE FOR INTERFAITH MINISTRIES - HELP AVOIDING EVICTION

    About

    Alliance for Interfaith Ministries (AIM) helps qualified clients stay in their homes and avoid eviction. AIM provides case management to ensure clients receive the wrap-around services necessary to support them through their crisis. 

    Eligibility

    The following criteria must be fulfilled in order to receive AIM Assistance: 

    • Be a resident of Charlottesville or Albemarle County. 
    • Normally have enough income to pay all monthly bills if it weren’t for a one-time emergency.  An emergency is an event that caused applicant to lose income or that required them to pay expenses that are above and beyond what is normal for their household. 
    • Provide documentation of the specific emergency that prevents payment of the expense or bill for which they are requesting help (i.e. job termination notice, doctor’s note of medical emergency, receipt for unusual expense, etc.) 
    • Provide documentation of household income. 

    Contact

    To apply for AIM emergency assistance, please fill out the form below and you will be called to discuss your application: 

    Assistance Form 

    AIM WEBSITE
  • TEMPORARY ASSISTANCE FOR NEEDY FAMILIES - VA CHILD SUPPORT

    About

    The Temporary Assistance for Needy Families (TANF) program provides eligible families with a monthly cash payment to meet their basic needs. The exact amount provided monthly depends on income. 

    Eligibility

    To be eligible for this program, the child must be:

    • Under age 18, or if 18, will graduate from high school before age 19
    • Going to school regularly if he is between the ages of 5 and 18
    • Living with a parent or other relative
    • A U.S. citizen or an eligible immigrant

    Virginia's TANF program emphasize personal responsibility. Participants may be provided with services such as job skills training, work experience, job readiness training, child care assistance, transportation, and other work related expenses.

    Contact

    You can apply for TANF and other State of Virginia benefits on the CommonHelp website

    or

    in person at 1600 Fifth St, Charlottesville where someone can help you fill in the forms. 

    TANF INFORMATION WEBSITE
  • CITY OF CHARLOTTESVILLE PROPERTY TAX ASSISTANCE

    About

    The City of Charlottesville is providing grants to help lower and middle income homeowners with paying their property taxes. Homeowners who are behind on their property taxes, or who need help with their taxes, may be able to receive grants of $375 or $525 depending on applicant income.

    The funds provided will be applied to the December property tax bill of qualified Charlottesville homeowners once their application is approved by the City.

    Eligibility

    Among eligibility requirements include:

    • The assessed value must be less than $365,000 
    • You must own no other home

    Contact

    Call 434.970.3333

    PROPERTY TAX ASSISTANCE WEBSITE
  • Malcolm Cole Child Development Center Scholarship

    About

    The Malcolm Cole Child Development Center (CDC) Scholarship is funded through a generous endowment gifted by Mrs. Cole. The endowment allows for scholarships to be awarded to Medical Center employees who currently have children enrolled at the Malcolm Cole CDC.

    Scholarships are offered on a need basis to Full and Part-Time benefits eligible employees to help meet the cost of current tuition. Applications open on July 1st each year.

    View more information.

    Eligibility

    Eligibility requirements include: 

    • Must be a Medical Center Team Member
    • Child must currently be enrolled at Malcolm Cole CDC
    • One scholarship awarded per household each year
    • Not terminating within 60 days

    Award are assigned at $500, $750, or $1,000 per year until the annual endowment funding is depleted.

    • $500 – need is indicated, but applicant does not indicate regular monthly financial challenges
    • $750- need is indicated, and applicant indicated additional monthly financial challenges (salary > $65,000)
    • $1000 – need is indicated, and applicant indicated additional monthly financial challenges (salary < $65,000)

    Contact

    Phone: 434.243.2643

    Email: feap@virginia.edu attn: Community Resource Specialist

Tax Preparation Assistance

Here are local resources available to assist in preparing taxes. 

  • CVILLE TAX AID

    About

    The United Way has a limited number of appointments this year and with limited tax situations. All the details are listed at www.cvilletaxaid.org, including a number to call, the process, and a link to make appointments. 

    They are also offering a new opportunity to file by yourself thanks to a partnership among the national United Way office, the IRS, and TaxSlayer, making it free to use and file online!

    Visit www.MyFreeTaxes.com and select “By Myself”. You will enter your contact information to receive an email with the link to the free software. There is also an option if you want to file with assistance.

    Eligibility

    Cville Tax Aid initially serves those households whose annual household income is less than $57,000, AND, who have basic returns, e.g., no home ownership, no itemizing deductions, no investment income, no IRA distributions, etc.

    Please call Cville Tax Aid to determine if you are eligible.

    To schedule An Appointment Contact

    Phone: 434.459.0504

    If you have further questions please contact Tameka Anderson at 434.972.1710 or tanderson@unitedwaycville.org

    For general program information please contact Laura Faye Groff, at 434.972.1702 or lfgroff@unitedwaycville.org.

    CVILLE TAX AID WEBSITE
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