Section Highlights

Financial Capability Resources

Resources by Content Area

Developing Credit

  • Assessing Insurance Needs

Housing Counselor's Toolbox

  • CounselorMax™ - This NeighborWorks Web application is the premier client management system used by the most advanced housing counseling agencies in the United States. HUD Compliance, other grant and subsidy tracking, education and counseling capabilities have made our system the number one choice of counseling agencies.
  • Housing Counselor's Worksheets [xls] - Worksheets to help clients make a monthly budget, make payments on their debt, control their money and save to make down payments.
  • www.powerpay.org - an online Web application to help turn debtors into savers.
  • www.nefe.org - American Express and the National Endowment for Financial Education, developed the Financial Education Clearinghouse to support the delivery of community-level financial literacy programs to teach and motivate underserved segments of society, (including the newly employed, young workers, individuals moving from welfare to work, and immigrants) to make changes in financial behaviors that will lead to economic independence.

Training Opportunities

  • NeighborWorks training HO209b-rq Deliverying Effective Financial Education For Today's Consumer (Mon-Wed)
    This course addresses the fundamental components to successfully deliver a well-designed financial education program starting with group education and the core content areas for instruction: Banking, Credit, Debt, Assets, Taxes and Insurance. Participants will explore growing industry trends surrounding comprehensive "financial capability" programs, lifestyle changes, counseling, coaching and measuring outcomes.
  • HO310: Financial Coaching: Helping Clients Reach Their Goals  (Thur-Fri)
    In this 2-day course participants will learn how coaching differs from and complements financial education, knowledge sharing and counseling.You will gain an understanding of practical coaching techniques using interactive case studies and demonstration activities to learn coaching essentials, client sensitivity, and communication skills.
  • ED175 Designing and Implementing Individual Development Account Programs (Thu -Fri)
    In this interactive course, participants get an overview of asset-building and IDAs, then they identify and analyze the key drivers of IDA program design (target markets and outcomes), the nuts and bolts of account structure and potential program services. Participants examine IDA program models, taking into consideration partners, costs, funding sources and collaboration. The course also explores marketing strategies for recruiting accountholders, data collection needs and information management systems.

  • NA141 Creating a Path to Self-Sufficiency through Native Integrated Asset Building Strategies
    This one-day course provides an introduction to a variety of institutional and development services related to entrepreneurship, basic financial education, homeownership, etc. Specific asset building strategies like Individual Development Accounts, Earned Income Tax Credit (EITC) outreach and free tax preparation are highlighted within this framework. Participants learn how to link these services to help their clients achieve a wide range of financial goals -- including, but not limited to, debt reduction and better savings and spending habits to improve self-sufficiency.

  • AM258 Resident Services: Financial Literacy
    This course was jointly developed by NeighborWorks America and Enterprise Community Partners. This one day course is designed to assist Multi-Family Residential Service providers in understanding and identifying the value of developing a Financial Literacy program so that they may develop a comprehensive Financial Literacy Program and effectively assist their residents in becoming more financially educated.
  • CB190 Youth Financial Literacy
    The ability to manage one's personal finances is a key life skill for youth to learn and practice. The goal of the course is upon completion, participants will be able to more effectively communicate, engage and implement a youth financial literacy program for youth ages 13 – 20. The course is divided into two parts: (1) reaching youth and (2) teaching youth. The course will provide insight into the teen psyche, marketing techniques for targeting youth, suggested content for a financial literacy program and recommendations for implementing a youth financial literacy program.

Reports

From Financial Education to Financial Capability: Opportunities for Innovation (2010)
As the economy rebounds, one solution for financial success lies in consumers’ ability to take responsibility for their finances through behavior changes as well as increased financial knowledge. Center for Financial Services Innovations (CFSI) proposes, in a new research paper from CFSI sponsored by the Citi Foundation that financial capability becomes the focus in moving towards a new financial landscape. Whereas financial education is a set of provider outputs, financial capability is a set of consumer outcomes. The implications of this research are far-reaching. Becoming financially capable is a critical step toward establishing financial security and bringing America back to prosperity.

Using a Financial Coaching Approach to Help Low-Income Families Achieve Economic Success: Challenges and Opportunities for the Field (2010)
In the last decade there has been a growth in for-profit and nonprofit services that use the term “coaching” to provide some form of support on financial issues. This brief describes the current context of financial coaching in its many forms, with a focus on programs delivered by nonprofit community-based asset building programs. 

 

 

For more information on NeighborWorks Financial Fitness Program, please contact NeighborWorks Senior Homeownership Specialist Milt Sharp.
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