Financial Literacy Program

Financial Literacy Program

Economic independence is vital to long-term stability and successful integration in the U.S., but many immigrants come from countries with vastly different financial systems. Understanding and navigating the complexity of the U.S. financial system is an enormous task, especially when considering language barriers and cultural differences. These unique challenges can make immigrants and refugees economically vulnerable, often resulting in financial behavior that can have long-term negative consequences on their household budget and credit profile. As over 90% of Financial Literacy Program participants are of low to moderate-income households, this knowledge is even more vital to their success.

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Class Menu

Typical programming includes 3 core modules and 3 elective modules, but the number of courses can be adjusted for a site’s needs. This flexible model allows host sites to select classes that best fit their participant’s needs.

Core Modules

Financial Institutions 101

  • Banks vs. Credit Unions
  • Choosing the best Institution
  • Check Cashing Services & Cash Advances
  • Non-traditional banking types

Budgeting Basics

  • What is a budget
  • Creating a budget
  • Budgeting effectively
  • Navigating budget short-falls
  • Smart shopping tips
  • Understanding free trials

Credit Cards

  • Credit Cards vs. Debit Cards
  • Using credit cards online
  • Preventing unauthorized transactions
  • Promotions and offers
  • Not paying your bills affects your credit

Elective Modules

Checking and Savings

  • Types of accounts
  • Choosing the best Institution
  • How to best use accounts
  • Writing a check
  • Overdraft protection

Loans/Predatory Lending

  • What is a loan
  • Types of loans
  • Applying for a loan
  • Predatory lending
  • Warning signs of too much debt

Basics of Buying a Car

  • Budgeting for a car
  • Where do I buy a car
  • Buying a new vs. used car
  • Leasing a car

Protecting Your Assets

  • Car Insurance
  • Health Insurance
  • Income replacement insurance
  • Life Insurance

Credit Scores & Reports

  • Good credit vs. Bad credit
  • Importance of credit reports
  • Tips for good credit
  • How to raise a bad credit score

Understanding Payroll

  • W2, W4, and 1099 forms
  • Direct deposit
  • Taxes and how to file
  • Paystubs (hourly, salary and overtime)

Building Wealth

  • Importance of financial goals
  • Types of investments and options
  • What is retirement
  • How to plan for retirement
  • Types of retirement and option
Protecting Yourself Financially
  • Preventing fraud and Identity theft
  • Detecting fraud and identity theft
  • Are you a victim of identity theft?
  • Frauds and scams

Home Buying 101

  • Should you buy a home
  • The home buying process
  • Down payment assistance
  • The real cost of buying a home
  • Protecting your investment

If you would like more information about classes, or to schedule classes for your group, please contact us at (727) 266-0816 or info@projectprosper.org.

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