Treasurer Spellerberg Highlights Initiatives to Build Financial Security

Earlier this month, Americans celebrated our nation’s 250th birthday. My family and I took time to reflect on the extraordinary events of 1776 and those individuals who pledged their lives, fortunes, and sacred honor to establish the greatest country the world has known.

Now, I’m encouraging Nebraskans to consider another form of freedom: personal financial independence.

Financial independence doesn’t mean being wealthy. It means building enough financial security to withstand life’s inevitable challenges. It also means being prepared when opportunities arise.

The Founders on Financial Independence

Think about this: Total U.S. household debt now stands at a historic high of $18.8 trillion. According to national surveys, many Americans today struggle to cover an unexpected expense of a few hundred dollars without using a credit card.

America’s Founders understood that freedom and financial responsibility are connected. They recognized that dependence on debt limits personal freedom, while saving and investing expand opportunities.

Benjamin Franklin championed thrift and personal responsibility. Two decades before the Declaration of Independence was drafted, Franklin wrote: “Think what you do when you run in debt; you give to another power over your liberty.”

George Washington approached his finances with discipline and precision. He tracked expenses, managed assets, and understood the importance of long-term planning. He recognized that financial stewardship was essential to personal independence.

Thomas Jefferson, on the other hand, despite being one of the greatest minds of his generation, struggled with personal debt throughout much of his life. His experience reminds us that intelligence and talent alone don’t guarantee financial success. Even remarkable individuals can suffer when they spend more than they earn.

Personal Finance Tools

To help Nebraskans achieve financial independence, my office administers several initiatives aimed at building financial security.

• To expand financial knowledge: My office provides no-cost financial literacy resources for educators, students, and adults — covering topics like budgeting, saving, investing, and credit. Access these resources by visiting the Financial Education section at treasurer.nebraska.gov.

• For future educational and vocational training opportunities: The NEST 529 Education Savings Plan helps parents, grandparents, and others save in tax-advantaged accounts to help the next generation pursue their dreams. Children with even modest savings set aside for their future are more likely to continue their education or training after high school.

• For Nebraska newborns: Our state’s Meadowlark Savings Pledge provides a $50 seed contribution in a state-managed NEST 529 account for Nebraska newborns to help them start their education savings journey.

• For individuals with disabilities (and their families): The Enable Savings Plan provides an opportunity to save and invest for disability-related expenses using tax-advantaged options. More than 5,000 Enable accounts are helping strengthen these individuals’ financial independence.

• For first-time homebuyers: Earlier this year, the Legislature passed and the Governor signed legislation I requested to create the First-Time Homebuyer Savings Account program. Starting Jan. 1, 2027, eligible Nebraskans will be able to save toward the purchase of their first home while receiving valuable state tax benefits. Homeownership remains one of the best ways Nebraskans can build long-term wealth.

I encourage all Nebraskans to take steps toward greater financial freedom. Whether it’s creating a budget, building an emergency fund, reducing debt, saving for a child’s education, purchasing a first home, or preparing for retirement, small actions today can produce lasting results.

Joey Spellerberg was sworn in as Nebraska’s 47th State Treasurer on Nov. 6, 2025. In this role, he serves as the state’s chief financial officer. The State Treasurer’s Office administers the Nebraska Educational Savings Trust (NEST 529) and Enable Savings Plan; manages and returns unclaimed property; collects and disburses child support payments; and promotes financial literacy and transparency in state spending. Learn more at treasurer.nebraska.gov.