Financial Literacy

This innovative program offers training in budgeting and money management.  Participants learn how to develop financial plans, access financial institutions and their resources, open checking and savings accounts, reduce debt and gain knowledge and understanding of financial resources for furthering their education and first-time home purchases.

The program is open to the public and program enrollees. 

Program Description:
The relationship between economic literacy and economic stability is well-established.  Yet the average student who graduates from high school lacks basic skills in the management of personal financial affairs. Many are unable to balance a checkbook and most simply have no insight into basic survival principles involved with earning, spending, saving and investing.

Many young people fail in the management of their first consumer credit experience, establish bad financial management habits, and stumble through their lives learning by trial and error.

Because The Family School’s financial literacy program is neighborhood-based and linked to other essential services like employment training and childcare, it is in a strong position to reach 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.  With the support of Financial Institutions and the SF Treasurer’s “Bank on San Francisco” program, we are poised to help change the financial culture of our clients.

The Family School Financial Literacy for Life program provides financial education services to participants of its STRIVE employment program as well as residents of the neighborhood in which we are located in the Mission District of San Francisco. 

STRIVE Program: As part of the three-week STRIVE employment training program, participants create a financial plan and budget, open a checking and savings account, learn how to reduce debt, build positive relationships with financial institutions, and learn about investments, resources for first-time home buyers, financial aid for higher education, insurance, and financial management techniques.

Neighborhood Program:  The Family School offers its financial education services to neighborhood residents in need of increasing their financial knowledge. Bilingual (English/ Spanish) workshops will be offered on a quarterly basis and will cover a range of topics, including money management, credit counseling, first-time homebuyer information, and savings and investing information.

Banking and Money Management: This workshop covers financial goal setting, creating a workable spending plan and tracking expenses.   It teaches participants how to access the banking system, walking them through the steps of opening a checking and/or savings account to avoid predatory check-cashing fees and familiarizing them with other important aspects of the banking system.  This is especially important for immigrants who may have a fear, distrust or lack of knowledge of the U.S. banking system.

Credit Counseling: “what is good credit and why is it critical in today's world?” ; addresses creating a realistic monthly budget, shopping for credit, spotting early signs of credit problems and developing practical steps to prepare for financial goals.

Downsizing your Debt: Saving money while still paying off debt.  Participants learn debt reduction strategies, how to manage credit, and how to create a personal debt repayment plan.

Savings 101:  how establishing personal savings can help participants build their financial success and offers practical tips on how to save.

Affordable Housing Options for First Time Home Buyers:  Participants learn about local programs designed to assist low to moderate income families with purchasing a home.

The goal of The Family School’s financial education program is to increase the financial knowledge of STRIVE participants and neighborhood residents and to help them achieve their financial goals of economic stability. 

Participants are given a pre- and post-workshop questionnaire to assess their level of improvement in knowledge during the workshop.