Financial Empowerment

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OUR MODULES

Our Goal

Our Modules

Striving to bring financial independence to the city of South Bend, we fully realize that offering equitable short term loans is only a part of the solution. To help improve the financial literacy of the South Bend community, JIFFI is developing a financial empowerment program that encourages better financial practices by offering customized advice and solutions to each participant. All clients are required to go through our program, but our coaching is available to everyone.

 

After speaking with many organizations in the South Bend community including Bridges Out of Poverty and Monroe Circle Community Center, we've targeted major areas that need to be improved and have developed a series of modules to enhance the financial knowledge of our program's members.

 

1. Goal Setting & Budget Analysis

Help client increase discretionary income and link budgeting process to long-term financial goals by:

- determining possible expenditure reductions

- searching for opportunities to increase income and analyzing their feasibility

- providing worksheet to help client keep track of expenses

2. Managing Debt

Help client understand the different sources of debt, their effect on personal income and the process of paying debt back by:

- reviewing client's financial documents

- prioritizing debts that must be paid back first

- providing advice and guidance regarding how to prevent future debt

3. Exploring Banking Services

Understand client's attitude towards banking service, explore client's past and present relationships with banking and highlight the benefits of banking by:

- explaining the banking process

- informing client about local services and credit unions

- determining best alternative based on client's expectations and needs

4. Credit Score & Proper Use of Credit

Help client understand the concept of a credit score and how credit works by:

- explaining the process and functions of credit scores

- finding client's score and evaluating its meaning

- exploring strategies to improve client's credit score

5. Long-Term Saving

Analyze different saving and investing strategies that are long-term oriented by:

- emphasizing the importance of saving money to achieve financial freedom

- introducing tools for investing and saving

- determining most convenient savings plan

6. Planning Dreams

Determine client's financial dream and how it can be fulfilled by:

recapping program's material and using acquired knowledge to determine

- dream's feasibility

- analyzing necessary steps to achieve dream

- laying out step-by-step guideline that takes short-term milestones into account

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CONTACT INFO

803 Lincoln Way West Second Floor, Room 1 South Bend, IN 46601

 (574) 400-5258

staff@jiffi.org

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