According to the 2021 NFCS (National Financial Capability Study) report done by the FINRA (Financial Industry Regulatory Authority), of the 20% of respondents laid off or furloughed due to COVID, “64% reported difficulty covering expenses and paying bills, compared to only 39% of those who were not laid off or furloughed. Those laid off or furloughed also had substantially higher levels of financial anxiety and were much more likely to overdraw their checking account (38% compared to 17%) and fall behind on mortgage payments (40% compared to 10%).
Learning to manage household finances moves families closer to stability – especially families with few resources, or those in poverty. Workshops offered on a regular basis at Catholic Charities can help individuals, regardless of income, learn to wisely allocate their finances to meet their monthly expenses.
“Financial literacy is essential no matter how large your bank account is and involves making good decisions about using money as a tool and resource,” Brent Morris, Employment Services Program Manager, said. “We discuss practical, proven ways for anyone to examine their financial picture and develop a strategy to make improvements. We acknowledge the struggle our clients are experiencing, and work to maintain the dignity of all clients, regardless of what brought them to our program. We use videos and booklets from the Consumer Financial Protection Bureau and interactive discussion in a lively and relaxed presentation as well.”
Coupled with employment services workshops, like our Job Seeking skills classes, the financial literacy curriculum actively instills a sense of confidence in attendees, as well as moving them closer to self-sufficiency. Job search classes help individuals find living wage employment that also fits within their areas of interest. Strategies are taught that build upon a person’s strengths and lead to success, not just in their job search but also in other life domains.
Being able to manage finances directly means keeping food on the table and remaining current on rent, and accessing appropriate resources in order to make those things happen. This is key to being able to move out of poverty into a stable living situation.
Both classes are held every Tuesday in the St. Joseph the Worker room in the Kansas City office.
Job Seeking Skills Workshop: 9 AM
Financial Literacy Workshop: 2 PM
For more information call 816.398.6894 or email jobassistance@ccharities.com.