Financial Education is Key to Regaining Stability
It’s difficult to change what you don’t know. If you’ve never been taught how to manage your income, budget your expenses, or save for emergencies, it’s not surprising that so many people are ill-equipped to make informed and effective financial decisions. Financial education is a key component for those wanting to regain economic stability. Catholic Charities of Northeast Kansas offers coaching and classes to increase financial literacy, reduce debt and provide hope.
Family Financial Transformations™
Designed to help break the cycle of debt, Catholic Charities of Northeast Kansas in partnership with CommunityAmerica Credit Union Foundation offers families and individuals the Family Financial Transformations™ program. Participants work with a team of professionals who are committed to helping families reach financial self-sufficiency.
During this 12-month program, participants receive financial classroom instruction as well as individualized budget counseling and a personal financial coach.
Geared for the whole family, childcare is provided for younger children and those children eight years and older are able to participate in their own age-appropriate financial education classes.
Graduating participants also enjoy personal and educational incentives alongside ongoing mentorship.
* The Family Financial Transformations™ program is currently only offered in Johnson and Wyandotte Counties.
Kansas Loan Pool Project (KLPP)
Recognizing that predatory lending such as payday and title loans contributes to the hardships, Catholic Charities offers a loan refinance program in partnership with Country Club Bank and others.
The Kansas Loan Pool Project (KLPP) is designed to help eliminate high-interest title or payday loans by issuing participants a new, low-interest loan. Each participant is enrolled in a financial education series to help develop a long-term financial plan and budget. They are also assigned a Catholic Charities case manager specialist to provide ongoing monthly support.
Eligibility and program requirements include:
- Total amount of Payday or Title loans must not exceed $1,500
- Must have stable, traceable income
- Budget must reflect ability to make monthly loan payments
- Monthly case management for the duration of the loan
- Attendance of financial education courses mandatory
For additional online resources, visit: moneysmartkc.org