Achieving Success through Financial Coaching

Long-time Urban Edge resident, Kiaralix began working with Community Engagement Officer, Stephanie Rodriguez in October 2017 on financial capability. Stephanie reflected on working with Kiaralix explaining, “When we first started financial coaching Kiaralix was unemployed. A few months later, she was able to get a job, open a savings account, achieve financial goals and is actively saving.” Financial capability is the ability to navigate life’s events, set goals and build towards those goals. Financial capability empowers people to ask the important questions about money that help them create good habits and make good choices for long-term stability.

In 2017, through Urban Edge’s financial capability programs more than 100 households were counseled on family financial literacy and budgeting. Urban Edge residents receive free, one-on-one individualized financial coaching to help them reduce debt, improve their credit score, or simply learn how to create and maintain a household budget. From there, the Engagement Officer/Coach is able to help the resident outline an action plan, set a timeline, and identify key steps to take to accomplish their goal(s).

Kiaralix also signed up for the EARN Matched Savings program. Through EARN, families have the opportunity to build their own emergency savings funds in 2018. Currently, 15 Savers participate in the program. When participants save at least $25 each month they get a $2 match for every $1 of their own savings. That’s up to $25 in rewards each month. Kiaralix now has the tools necessary to face financial challenges head-on. 

Interested in learning more about financial literacy and budgeting? Contact us!