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FINANCIAL EDUCATION TOOLKIT
If you’re looking for unbiased financial information, www.mymoney.gov is a convenient source for general financial education topics. Provided by the FDIC, the Treasury Department, the Consumer Financial Protection Bureau, the General Services Administration’s Federal Citizen Information Center and other members of the new Financial Literacy and Education Commission, this site covers financial topics that apply to persons of all ages.
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Savings Bonds
U.S. Savings Bonds make great gifts for people of all ages. Bonds come in denominations from $50 to $10,000 so there is a size to fit every occasion.
The U.S. Department of the Treasury ended over the counter sales of paper savings bonds on December 31, 2011, including sales through financial institutions and applications mailed directly to the Federal Reserve Bank by customers. This move is expected to save taxpayers an estimated $70 million over the next five years. Tax filers still have the option to purchase paper Series I Savings Bonds with their federal tax refunds. Otherwise, there will be no other way to buy paper savings bonds.
Although paper bonds are being discontinued, customers will go on-line to www.treasurydirect.gov and open an account to purchase electronic Series EE and Series I bonds. Opening a Treasury Direct account is free, and, once it’s established, investors can…
- Buy, manage, and redeem Series EE and I electronic savings bonds.
- Convert Series EE and I paper savings bonds to electronic through the SmartExchange feature.
- Purchase electronic savings bonds as a gift.
- Enroll in a payroll savings plan for purchasing electronic bonds.
- Invest in other Treasury securities such as bills, notes, bonds and TIPS (Treasury Inflation Protected Securities).
Existing paper bonds are still valid and will earn interest for 30 years from the issue date or until redeemed. Paper bonds can still be cashed as usual. Beginning January 1, 2008, the annual limitation on the purchase of U.S. Savings Bonds will be $5,000 per social security number. Limits are based on the issue price of the securities. The limit applies separately to bonds issued in paper or electronic form. Complete information is available at www.treasurydirect.gov.
More Information
Order online if you do not require an actual paper bond. Payment may be deducted from your checking or savings account.
Everything you need to know about bonds, including current value of existing bonds and a future value calculator.