The People's Money (2022-2023)

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Source: {"body":{"en":"<p><strong>What problem would you like to solve?</strong></p><p><strong>The amount of low income communities without access to financial education is astonishing! By creating community based programs to teach essential skills such as household budgeting, saving strategies, investment strategies, financial planning, and debt counseling, we will be able to empower entire communities to rise out of poverty and start on the path to financial self sufficiency. </strong></p><p><strong>Why is it important to solve? Why is it relevant for the community? <br>By empowering communities with the knowledge to successful manage money, we in turn enable certain at risk households to become financially stable and empowered, thus creating long lasting habits that will prevent them from becoming dependent on public assistance and offer the opportunity of becoming financially stable. </strong></p><p><br></p><p><strong>What idea do you have to address the problem?</strong></p><p><strong>The city can offer CPA’s, Tax professionals, Financial Advisors, or Accountants incentives to mentor families in need of financial advisement and education. The program ideally should focus on educating households on: </strong></p><p><strong>Debt Management and counseling </strong></p><p><strong>Household Budgeting Skills ( Building Emergency Funds) </strong></p><p><strong>Basics of Investing </strong></p><p><strong>Investing for Retirement </strong></p><p><br></p><p><br></p><p><strong><br></strong></p><p><strong>Who would that help?</strong></p><p><strong>Rising credit card debt, higher inflation, and higher interest rates will affect minority, low income households the most. Black and Latinos in low income communities carry on average 70-125 debt to income ratios..and without the proper education on money management, most of these households will be crippled by never ending debt. </strong></p><p><br></p>"},"title":{"en":"Financial Literacy Program targeting Low Income Black/Latino Community "}}

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