Financial Literacy
Empowering individuals and families with comprehensive financial knowledge to help them make informed decisions and build a secure future.
The Challenge
Financial illiteracy is more prevalent among low-income individuals because they often lack access to accurate financial information. With such barriers, individuals, families, and youths in low-income households always fall victim to scams, high-interest-rate loans, and increasing debt.
Our Solution
Training low-income individuals, families, and youths in financial management can be an effective way to improve their knowledge in five key areas: predatory lending practices, public and work-related benefits, banking practices, savings and investing strategies, and credit use and interest rates.
Our Financial Literacy Programs
Basic Banking and Budgeting
- Using financial institutions
- Reading statements from financial institutions
- Using electronic banking services
- Calculating interest and understanding compound interest
- Opening accounts
- Managing a checking account
- Recognizing the range of saving options
- Understanding the importance of budgeting to achieve goals
Credit and Debt Management
- Establishing and using credit
- Ordering and reading a credit report
- Identifying expenses and assessing assets/debts
- Understanding car ownership/leasing costs
- Repairing poor credit
- Securing loans
- Avoiding predatory lending
- Strategies to reduce debts and save money
Income Planning, Risk Management, and Taxes
- Financial planning for different life stages
- Understanding various types of insurance
- Decision-making and problem-solving
- Filing for Earned Income Tax Credit (EITC)
- Reading a paycheck (gross vs. net pay)
- How taxes affect paychecks
- Understanding tax obligations
- Avoiding tax penalties and overpayment
Money Flow and Asset Creation
- Money Flow and Asset Creation
- Recognizing the interconnectedness of the economy
- Applying economic concepts to personal finance
- Standing up for rights as a consumer
- Understanding basic investment principles
- Accessing community and financial resources
- Communicating about financial matters with family
- Recognizing accessible investment options
Individual Development Account (IDA)
- Understanding the IDA program
- Using the IDA to build assets
- Identifying barriers to achieving goals
- Monitoring plans and tracking progress
- Setting up, maintaining, and using the IDA
- Setting goals and priorities
- Developing a spending plan
- Keeping accurate records
Homeownership Preparation
- Knowing what to look for when buying a home
- Dealing with mortgage lenders
- Identifying affordable homeownership programs for low-income workers
Ready to Get Started?
Let us help you craft your path to business success with our comprehensive programs and expert guidance.