Maximize Your Alaska Permanent Fund

This fall, eligible Alaskans will receive $3,284 for their combined annual Permanent Fund Dividend and special energy relief payment. Deciding how to use extra cash can be overwhelming, especially when balancing short-term and long-term goals. 

“Budgeting and finances can be intimidating,” said Mandi Manning, AHFC public housing resident services manager. “Financial literacy gives confidence and power to our public housing tenants to achieve their goals and become self-sufficient.”

AHFC's public housing participants have access to tools through the Jumpstart program for financial literacy and money management courses. Families in Jumpstart partner with a case manager to identify goals and opportunities that lead to economic independence and stability in housing. 

Below, our Jumpstart resource experts have tailored tips for public housing participants who want to use their Permanent Fund Dividend to plan for the future. 

Resisting the Urge to Splurge

While using unexpected or extra cash on entertainment or something personal isn't a bad thing, using a strategy such as the “50/30/20” rule can help you think ahead. 

In this strategy, 50% of after-tax income goes toward needs like housing, groceries and child care. Then designate 30% to things you want, like entertainment, dining out, or “the fun stuff” you enjoy spending time and money on. Lastly, save 20% to your emergency or retirement funds, or pay down debt. 

Budgeting for the Future

While the 50/30/20 rule may not work for all households, this budgeting method can help you manage an influx of money effectively, simply, and sustainably. This approach adds structure to spending habits and can help you confidently understand your monthly living costs and plan for the future. 

Here are some additional suggestions that can help public housing participants cash in on potential benefits down the road. 

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Are you an AHFC public housing participant wanting to learn more about financial literacy? Visit your local AHFC office or call 1-877-AKGOALS (877-254-6257) toll-free for assistance. You can also visit our financial literacy resource page for tools and information. Information is also available on Alaska Housing's free homebuyer education courses.