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Financial Literacy

At Black Business Enterprises Fund

We recognize that there is a strong link between financial literacy and financial wellness among the communities we serve. 
Those who are more financially literate are more likely to plan and save for retirement, to have non-retirement savings and to better manage their debt; they are also less likely to be financially fragile.
Financial skills, such as personal finance, budgeting, and investing sometimes seem like foreign languages and one of the big factors why we are not able to raise our economic status.
There is still a huge disparity  in the rates of financial literacy across different racial and ethnic groups which perpetuates the massive wealth gap. Financial literacy has become more vital since the increase in use of credit cards, loans, student loans and mortgages. 
We want to help put an end to this gap by including youth so they can start making good decisions early and educating parents and young adults in making better financial decisions.
We offer monthly free financial literacy classes once a month in person and virtual from the comfort of your home. Financial Literacy Is CRITICALLY Important For Black Americans, so we are here to be of support. We consider financial literacy a SUPERPOWER!
We have created a SAFE space for you to come, gather and learn together, ask questions and there are no limits to how many workshops you attend.
We will continue to add and expand our programs as needed to meet the community’s needs.

Program Overview:

Empowering Individuals through Financial Literacy

Objective: The objective of this program is to provide individuals with the knowledge, skills, and resources they need to make informed financial decisions, ultimately empowering them to achieve financial stability and independence.

Target Audience: This program is designed for low-income individuals, especially those who are unemployed or underemployed, students, and young adults who are just starting out in their careers.

Activities and Services:

  1. Financial Education Workshops: The program will offer a series of interactive financial education workshops that cover key topics such as budgeting, credit management, debt reduction, savings, and retirement planning. The workshops will be delivered by experienced financial educators and will be tailored to the specific needs and circumstances of the participants.

  2. Financial Coaching: Participants will have access to one-on-one financial coaching sessions with trained coaches who will work with them to develop personalized financial plans, set achievable goals, and monitor progress towards those goals. Coaches will also provide ongoing support, motivation, and accountability to help participants stay on track.

  3. Resource Center: The program will establish a resource center that provides access to financial literacy materials such as books, videos, and online resources. The resource center will also serve as a hub for financial education events and activities, such as financial literacy fairs and community outreach events.

  4. Financial Counseling: Participants will have access to free financial counseling services, including credit counseling, debt management, and financial planning. The program will partner with local financial counseling agencies to provide these services.

  5. Referrals to Partner Organizations: The program will establish partnerships with local organizations that provide services related to financial stability, such as job training, housing assistance, and healthcare. Participants who need additional support in these areas will be referred to these organizations.

Evaluation: The program will be evaluated using both qualitative and quantitative methods. Participants will be asked to complete surveys before and after attending workshops, coaching sessions, and counseling sessions to measure changes in their financial knowledge, behavior, and attitudes. Program staff will also track key metrics such as the number of participants, the number of coaching sessions, and the number of referrals to partner organizations.

Budget: The program will require an initial investment of $500,000 to cover the costs of hiring staff, renting office space, developing program materials, and promoting the program through outreach and marketing efforts. Ongoing funding will be required to sustain the program and expand its reach.

Funding Sources: The program will seek funding from a variety of sources, including government grants, private foundations, corporate sponsors, and individual donors. The program will also explore opportunities to partner with local businesses and financial institutions to provide funding and in-kind support.

Conclusion: The Empowering Individuals through Financial Literacy program has the potential to make a significant impact on the lives of low-income individuals by providing them with the knowledge, skills, and resources they need to achieve financial stability and independence. With support from government funding, private foundations, and other sources, this program can help transform the lives of participants and contribute to the overall economic well-being of the community.

Take our Financial Literacy Checklist survey

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