Updated: Jan 7
We are pleased to announce that the Mississippi Center for Re-entry and First Step Alliance will partner to launch a state-of-the art digital financial education program for 2021 re-entry participants.
Financial education is essential to help people manage money, pay down debt, increase savings and establish good credit – creating a path to a healthy financial future. Unfortunately, many people are struggling with their finances – 4 in 10 U.S. adults can’t even cover a $400 emergency expense and 24% of adults have nothing at all saved for retirement.1 Underserved and unbanked communities, such as formerly incarcerated individuals, are at an even greater disadvantage, and lack access to financial education and information.
Working with re-entry organizations, which play a critical role in helping people re-integrate into society, we can change this narrative. Our plan is to offer re-entry program participants access to free financial education and credit counseling services through a state-of-the-art online platform with proven learning gains. The program includes many important financial topics and there are many different ways to learn – some people prefer reading, others like to watch videos or participate in live workshops. Featured topics include:
- Checking Account Basics
- Budgeting & Spending
- Identity Theft
- Credit Score & Credit Reports
- Learn about Loans
January 2021 Launch Planned
We are very excited to have the opportunity to work with Ms. Cynetra Freeman, Founder & Executive Director of the Mississippi Center for Re-entry, and her program participants. This pilot will help us model similar initiatives with other re-entry organizations in the near future.
1 Report on the Economic Well-Being of U.S. Households (SHED), Federal Reserve, May 2018