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Crisis Assistance Ministry

Crisis Assistance Ministry

Charlotte, NC

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Financial Capability Month

April is National Financial Capability Month, highlighting the importance of financial education in supporting American families as they strive for prosperity and the resilience to weather unexpected setbacks.

April 23, 2021

April is National Financial Capability Month, highlighting the importance of financial education in supporting American families as they strive for prosperity and the resilience to weather unexpected setbacks. 

In his official proclamation on March 31, President Biden emphasized that this year’s Financial Capability Month is especially critical given “the financial impact of COVID-19 and the deep-rooted inequities in our society that have greatly limited the economic prosperity of too many Americans.” 

At Crisis Assistance Ministry, the effects of those ingrained barriers to financial security are unmistakable. Every day, hardworking men and women seek assistance with the basics — rent, utilities, clothing, and household essentials – when their household budgets are stretched too far by rising costs for housing, food, medicine, transportation, and childcare.  

The ability to provide for the comfort, security, and prosperity of one’s own family is a universal desire shared by all Americans. While customers served at Crisis Assistance Ministry may find themselves in need of a lifeline in times of financial stress, they strive for the same goals everyone does — the freedom and peace of mind that come with financial success. 

Through its Economic Mobility Program, Crisis Assistance Ministry helps customers uncover pathways to economic opportunities and financial stability. Customers enrolled in this program work one-on-one with specially trained caseworkers for an average of three months, identifying specific barriers to financial security and setting personal goals for a brighter future. 

The Economic Mobility Program casework team utilizes a robust curriculum developed by the Consumer Financial Protection Bureau (CFPB), a federal agency dedicated to supporting and protecting consumers as they make informed financial decisions. The CFPB curriculum, “Your Money, Your Goals,” provides practical steps families can follow to take control of their finances. Examples of elements covered include setting SMART goals, budgeting, managing debt, building a good credit score, planning for significant life events, and creating savings. 

“This opens up so many avenues,” says Tiffany Bost, director of the Economic Mobility Program. She points out that many customers come into the program thinking financial education is only for wealthy people. However, they quickly learn that everyone can benefit from tips and pointers for building a solid fiscal foundation. 

One of the fundamental habits the Economic Mobility team encourages all program participants to develop is to contribute consistently to a savings account. Caseworkers help participants identify creative ways to find small amounts of money that can transform into significant resources over time. Even five dollars a week squeezed from the grocery bill and stashed away in savings builds assets and, just as importantly, self-confidence. 

While many people do not initially think it is possible to save on a lower income, Tiffany says that once participants realize they can, “it shifts their relationship to money.” She remembers one participant, amazed at the power of saving, who told her, “My money is showing me that I can actually live my life instead of just living to get money.” 

Empowering people to take control of their financial lives and build a solid foundation for a more prosperous future is the goal of both the Economic Mobility Program and National Financial Capability Month. April highlights the importance of financial literacy, but this vital work is ongoing throughout the year at Crisis Assistance Ministry. 

Filed Under: Advocacy Tagged With: finance, Financial Assistance, Financial Security

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Crisis Assistance Ministry

Preventing homelessness.
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  • Main Office:
    500-A Spratt St.
    Charlotte, NC 28206
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We are so #grateful for the team of dedicated #volunteers who volunteer their time & expertise on our Board of Directors. Today we welcome five newly elected members: Deborah Brewer, Yog Hari, Ed Holland, Deirdre John, and John Magnuson. (Learn about them through our linktree)

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We've got a special shout out to @championhouseofcare and @beyoubegreatnonprofit for their tireless commitment to helping the seniors displaced from Magnolia Apartments since Christmas Day. @CrisisAssistMin is proud to be working alongside these passionate grassroots organizations and @housingcollab_ to help craft individual plans to get our neighbors back into stable housing while ensuring their basic needs continue to be met.

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These community-minded Deltas celebrated Founder's Day last week by inspecting and preparing donated goods for Free Store shoppers. With their help, families shopping free of charge will find essentials to help them live with dignity this week.

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The King Center's theme for MLK Day 2023 is "It Start's With Me: Cultivating A Beloved Community Mindset to Transform Unjust Systems." Fifty-five years after his death, we still see the impacts of unjust systems every day at Crisis Assistance Ministry.  Read more in this weekend's blog (link in bio)

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Crisis Assistance Ministry will be closed on Monday, January 16 in observance of  Martin Luther King Day. The office will be closed to all customers, volunteers, staff, and donors. Typical hours resume on Tuesday, January 17, 2023.

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Families in Charlotte, and across the country, are struggling to make ends meet. Inflation has outpaced wage growth. People are working harder than ever but still falling behind on rent and utilities. People need more money. But could we use policy to get more money into the hands of those who need it the most? This week's blog takes a look at the potential for Guaranteed Basic Income here in the Queen City. (Link in bio)
📷 courtesy of @stocktondemo

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Just one more day before we're back to "normal." So, @CrisisAssistMin is closed January 2, 2023,  and will return to typical business hours tomorrow, January 3.
(Financial assistance 10 a.m. to 4:30 p.m., Free Store by appointment 10 a.m. to 4 p.m., Donation drop off 9 a.m. to 4 p.m.)

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Wishing you hope, warmth, & light in the new year and beyond.
(P.S. @crisisassistmin will be closed tomorrow, January 2, and reopen with typical hours on Tuesday, January 3, 2023.)

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"Everybody wants to have that light shine."
Nikki shares what the holidays mean to her family as we reach the end of the year.  Looking back, she's grateful for the help of the community to get her through a financial crisis and back on her feet moving toward economic mobility.
Thousands more families will seek that same kind of help -- to stay safely housed, to keep utilities flowing, to provide clothing and household goods, and to rebuild financial stability -- in 2023.
Visit our quick links to learn more and to make a tax-deductible year-end gift to help more of our neighbors in the coming year.
Oh, and HAPPY NEW YEAR!

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