Financial Literacy Proposal

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I am honored to submit this proposal from the group within Rd Central Office Philadelphia. At this time we would like for other members of the RD family to Join us in promoting Financial Literacy for Individuals with Disabilities. We have recognized as well as embraced the ongoing initiative to promote independence amongst our disabled community. Our program will aid in this mission by incorporation a training module designed for our specific population and create a customizable budget plan for each Individual.

Presently, the budget for this program is tentatively projected at $3,675. 0. We would also like to collaborate with Credit Unions, Banks, other charitable organizations and other entities in providing donations. The National Financial Educators Council, an organization whose sole mission is to promote financial literacy is ready to aid in educating people with disabilities understand their finances. Currently, we are also seeking other avenues of support.

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This will be a great addition to the already amazing programs that are offered to our Individuals through RD. The men and women of our residential facilities who suffer from mental illness through this project can empower homeless and live healthier lives as they are preparing to reintegrate back into community living. Sincerely, Client Funds Manager Executive Summary Financial Literacy is a project designed to enhance the lives of the Individuals within Resources for Human Development as well as the broader community as a whole.

Through a portfolio of a population specific curriculum we will engage each person in pre-assessment sessions, as well as equip each Individual with valuable financial management education, a customized budget plan and ultimately offer a system of recognition upon completion of the program. To ensure our program’s eleven and effectiveness, independent evaluations will assess the short and long term benefits of participating in this program. “Financial literacy programs/ courses should not be treated as a shot, get them al” -approach to educating . People about personal finance and money management skills but should constantly engage them with the various financial literacy skills until they are independent to make their own decisions”. (U. S. Department of Labor, Office of Disability Employment Policy, DEEP) Our ultimate goal is to assist Individuals who through strengthening their base of information can now actively participate in their epistyle plans, set reachable goals and increase their sense of feeling empowered. Economic health impacts both the mental as well as the physical well-being of the Individual.

We have also identified potential community linkages to partner with in aiding our Individuals to live fulfilling lives: Financial Institutions, Social Security field offices, Peer Support Groups, Centers for Independent Living and United Way. I would like to end my summary with a quote from Cynthia Battles, an American Dream seems simple: to live on my own and be self-sufficient, to live with dignity and independence. I struggle with my finances right now, but I am an optimist – I believe that I can make progress with my Job, move forward and become part of the mainstream economy and achieve my goals. (C. Battles, Rutland, W, 2008) Narrative Needs Assessment Financial literacy is a tool that empowers Individuals to create a quality of life through making informed choices. More specifically, financial literacy refers to an acquired set of skills and knowledge that allows Individuals to participate in their own decision making process. In July 2010, the United States Congress passed the Dodd-Frank Act, which in turn created the Consumer Financial Protection Bureau. “…. It is the policy of the Federal government to encourage financial literacy among the American people”. President’s Advisory Council on Financial Literacy, 2008) This project will focus on a basic formula for a successful implementation of a Financial Literacy Education Awareness Program for Consumers that incorporates: Motivated staff, resources, a curriculum tailored for the various populations we serve as well as community integration. “Financial illiteracy is not an issue unique to any one population. It affects everyone-across all racial and socio-economic lines. No longer can we stand by and ignore this problem”. The Department of the Treasury) Research has shown that personal financial problems lead to stress and distraction- all of which diminishes productivity and a quality of life. RD central Office PA’s Department currently provides oversight of over 800 Individuals located both locally as well as regionally. We recognize the need to empower our Individuals and to help with fostering a life geared towards independence, safety and fulfillment. Gaining a strong sense of financial education and accomplishment will greatly impact he lives of our consumers.

Our Individuals must live within a budget to be successful, but they deserve the right to also understand their budget. To make this action of the norm, rather than the exception, consumers need to be provided with a financial awareness program tailored to their needs. Objectives Project Goals and Living on a fixed income can be very challenging. It is critical that RD has a program that can offer our consumers an educational and relatable financial literacy program that addresses “real world” financial situations so they are able to internalize the message.

This program will develop an assessment tool that identifies the levels of financial awareness of each of our consumers, incorporate an interactive fun software program that aids in developing a better understanding of personal finances tailored to the mentally challenged, and create a recognition have a model to share with other community linkages and programs to set the precedent within the community of how our core values aid in the development of the Individual.

Our Representative Payee Program will provide education in basic money management to all Social Security beneficiaries who have demonstrated an inability to understand and/or participate in the management of their own funds. Individuals should be a part of their decision making to the greatest extent possible. (ASS,2011) The mission of this project is to: Create a stronger awareness of the importance of financial literacy throughout the community, where by developing strong marketing initiatives. Family Fun Finance Day’, an event where RD will provide money management while simultaneously raising awareness for the financial literacy movement. Combining complimentary financial literacy resources with a high-profile awareness campaign will aid in the goal of this project. In addition, there ill be an interactive tool that assesses Individuals current level of understanding towards managing their personal finances. An assessment tool for the consumers should be an interactive approach that enhances the coordination between the material and the concepts needed to gain financial literacy.

Coupled with educational workshops designed to bring the assessments to a fun interactive workshop setting the ultimate goal is to assist the learner in becoming empowered, motivated and participative in decision making. From understanding the population served here at RD we will offer a certificate of completion as a way of recognizing hose consumers who have successfully completed our financial literacy workshops. This added component will allow our consumers to feel empowered as well accomplished while RD will have the opportunity to measure the success of each Individual.

Having a sense of empowerment, the consumer will lead lives with less stress, a stronger sense of feeling safe as well as have the ability to also trust their care workers with handling their financial affairs. Methodology According to the National Financial Educators Council on financial literacy in America statistics shows there has been a decrease in financial knowledge levels. This is a rapidly growing concern expressed by our U. S. Government officials. The American Dream Movement is a financial empowerment campaign designed to reduce the percentage of negative financial literacy and help people to achieve a state of financial well-being”. (National Financial Educators Council) March 2013: Begin brainstorming sessions with focus group to identify roles April 2013: Brainstorming session (2) with identified target. Follow up with progress for assigned tasks April 2013: Marketing initiatives begin to promote an awareness of the Financial Literacy

Campaign to enhance the lives of the Individuals we serve (Social Media, Internal awareness and community linkages) April 2013: Distribute pre-assessment to identified target April-May 2013: Begin workshop (Peer and Bank collaboration) August 2013: 3 Month follow up with participants September 2013: Distribute post assessment and measure results November 2013: Begin strategy for the Financial Literacy Campaign event, gathering resources and community linkages This project’s overall design is to empower the Individuals we serve throughout Red’s various programs.

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