“What if my child gets sick? Can I afford to take the time off work?”
“If my car breaks down, do I have enough in savings to cover the cost of repair?”
These are concerns we all may have, but aren’t always at the forefront of our thoughts. While we all want to save for our future, the reality is that many of us find that challenging. A reported 63% of people do not have enough money saved up to cover s $500 expense and, according to NFCC 2015 Consumer Financial Literacy Survey, only 2 in 5 adults report having a budget and keeping close track of their spending.
In order to continue to promote financial literacy in our community, United Way has teamed up with the Financial Stability Alliance to launch a Financial Coaching pilot program. Financial coaching is quickly gaining recognition on a national level as a proven, effective way to help people significantly improve their financial well-being. The pilot program will initially provide free financial coaching to 10-20 participants.
Residents of Monroe, Owen, and Greene counties who are interested in being part of the pilot program should fill out the online application prior to December 15th..
“United Way stands behind every person in our community seeking their path towards prosperity and a better life, no matter their starting point,” said Efrat Feferman, United Way’s Executive Director, of the program. “We look forward to assessing the program’s results with this first class of participants, so that our community may then determine the worthiness of further investments in individualized coaching as a powerful tool for improving one’s financial health.”
For more information on the program, click here.