Individual Development Accounts (IDA) allow participants an opportunity to acquire a lasting asset after saving for an extended period of time. The three eligible assets are college tuition, a first home, or small business capitalization. These special matched savings accounts are designed to help families and individuals of modest means establish a pattern of regular savings, and ultimately, purchase a lasting asset of value that is likely to return substantial long-term benefits to its owner. Such benefits include security, stability, and opportunities for increased income.
For information on IDAs please click here.
Additional Asset Building Resources
Federal Reserve Credit Card Calculator
http://www.federalreserve.gov/creditcardcalculator/Default.aspx
NDSU Extension Services
http://www.extension.org/personal+finance
North Dakota Tuition Rates
http://www.ndus.edu/students/educational-costs/details.asp?id=215
Personal Finance Calculators
http://www.practicalmoneyskills.com/calculators/
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