Written by North Carolina Treasurer Brad Briner
TANSTAAFL.
Have you seen that acronym before? I hadn’t when I walked into my fifth-grade science class. Little did I know it would not only teach me about Newton’s Third Law of Motion (for every action, there is an equal and opposite reaction) but also an important but simple premise of financial literacy:
There Ain’t No Such Thing As a Free Lunch. TANSTAAFL.
While it is true that there is nothing completely free – there are some things in your financial life that are close enough to free that you should pay attention and take advantage when possible. Sure, there may be some paperwork to do for any of these suggestions below, but it will certainly be worth it. After a couple of months of heavy material, we wanted to keep it light and straightforward this month!
1. 401(k) Matches
For those of you with access to a 401(k), a 403(b) or a 457-style retirement plan through your work, which is a majority of the workers in the state, you may have a “free” match on your contributions into that plan. That means if you can make an equal level of contribution to what the employer is willing to match, you maximize this free money and you will be well on your way to a secure retirement.
2. Trump Accounts
These accounts were created under the HR1, or the “One Big Beautiful Bill”, to allow young people to start saving and investing, with some government help, from a very early age. They are also known as 530(A) accounts. For those under 2 years old, there could be an initial contribution of $1,000, and for those between 2-10 it could be $250. Claim this “free” money today by setting up an account for the young people in your family today (www.trumpaccounts.gov) – they go live on July 4th, 2026 and the sooner you sign up, the earlier that money starts working for your kids.
3. Unclaimed Property
Each state has an unclaimed property office – also called Escheats. In North Carolina, we estimate that about one out of every seven people in the state have money sitting with our unclaimed property office, waiting for you to claim it! Make sure you go to NCCash.gov and check to see if we have something that is yours… and then check the records for other states you have lived in previously.
4. Pell Grants
For those of you who are looking to attend an undergraduate degree program sometime soon, there is a great deal of federal assistance available, perhaps none better than the Pell Grant. If you qualify for the grant based on filling out the FAFSA, the Federal Government will pay about $7,400 of your tuition as a grant.
5. Other Benefits From Your Employer
Check your benefits book carefully. Many employers offer tuition assistance, health savings accounts, flexible spending accounts and other benefits to help their employees defray costs. Be sure you are familiar with all that your employer offers and make the most of it… it’s (kind of) free money!
I hope everyone has a wonderful Fourth of July and America 250 celebration! We are all so blessed to live in this country. Even if there is no such thing as a truly free lunch.
Brad Briner was elected North Carolina Treasurer in 2024 after working as the co-chief investment officer for Willett Advisors and has held positions at Morgan Creek Capital, the UNC Management Company, ArcLight Capital and Goldman Sachs. He started writing “Bottom Line with Brad” as a way to educate North Carolinians on complicated financial matters in the Department of State Treasurer’s monthly “Finance Fridays” newsletter. The column is published in partnership with Chapelboro and is not a sponsored series.
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