Financial Literacy Support

We offer individual coaching on how to navigate the U.S. financial system. Check out the topics we coach you on below!

 

Basic Banking and Budgeting

• Using financial institutions

• Opening accounts

• Reading statements from financial institutions

• Managing a checking account

• Using electronic banking services

• Recognizing the range of saving options

• Calculating interest and understanding compound interest

• Understanding the importance of budgeting to achieve personal and financial goals

Credit and Debit

• Establishing and using credit

• Repairing poor credit

• Ordering and reading a credit report

• Securing loans

• Identifying expenses

• Identifying and assessing assets and debts

• Avoiding money drainers (check cashing operations, rent-to-own stores, predatory

Money Flow and Asset Creation

• Understanding economic and financial terminology (e.g., understanding the evening news)

• Understanding basic investment principles

• Recognizing the interconnectedness of the economy

• Accessing resources — community resources, financial assistance resources, credit counseling resources, financial planning resources, online resources

• Applying economic concepts to personal financial management

• Communicating about financial matters with family or household members

• Standing up for rights as a consumer

• Recognizing accessible investment options

 
 

Lending

• Understanding the proposed and actual costs of owning or leasing a car

• Developing strategies to cut expenses (plug spending leaks) and increase income

• Determining ways to reduce debts and/or save money

Income planning, risk management, and taxes

• Financial planning for different stages on the family life cycle or for life events — getting married or living together, separation or divorce, having children, personal or family illness or disability, buying a home, retirement, sending children to college, losing a job, death of a partner or family member

• Reading a paycheck — what is the difference between gross pay and net pay

• Understanding and identifying various types of insurance, the protections they provide, and the risks associated with remaining uninsured

• Understanding how taxes affect paychecks and the difference between net and gross income

• Decision-making and problem solving

• Identifying values

• Managing risk

• Understanding tax obligations

• Filing for Earned Income Tax Credit (EITC)

• Learning how to avoid tax penalties, underpayment, or overpayment

Individual Development Account

• Understanding the IDA

• Setting up, maintaining, and using the IDA

• Using the IDA to build assets

• Setting goals and priorities (e.g., home ownership, post-secondary education)

• Identifying barriers or obstacles to achieving goals

• Developing a spending plan to achieve goals

• Monitoring plans (tracking progress)

• Keeping records

Home Ownership

• Knowing what to look for when buying a home

• Dealing with mortgage lenders

• Identifying affordable homeownership programs available to low-income workers

Social Enterprise

• Starting your own business: understanding the basics

• Understanding the main components of a business plan

• Creating a budget for a start-up business

• Finding training programs about how to start a small-business