Multipliers of Prosperity: A Match Made in Reality

May 23, 2018 9:25 AM ET
Article

by The Financial Clinic

The recipe for financial security, while it allows for variations, has a few universal ingredients. You have to have a goal and you have to have a plan. The goal can be as ambitious as buying a home or it can be as modest as saving enough to give your children new toys on their birthdays. The plan can range correspondingly, including everything from pursuing higher education to making better use of available public assistance. But for many people, the plan includes getting a job and learning how to make best use of the income it provides to achieve the goals they’ve set.

Low- and moderate-income Americans often turn to community-based organizations, or CBOs, for help with both job-seeking and financial security services. CBOs’ workforce development services may include everything from job boards, resume writing, skills training, placement, and post-placement support. Their financial security services, meanwhile, usually focus on helping clients pay down debt, improve their credit scores, open bank accounts, and build the savings habit.

With support from MetLife Foundation, The Financial Clinic teamed up with the Corporation for a Skilled Workforce to gauge the return on investment of bringing the two efforts together: of integrating financial security services into workforce development programs for greater impact.

To read the full article, visit the Multipliers of Prosperity website