Financial literacy program
Money - how to earn it, where to spend it, and when to save it - is essential to creating a good life in a new country.
But, for many people, the handling of finances is often a new and different aspect of life. Savings, loans, credit, debt, taxes, insurance, investing and financing are often confusing concepts.
A firm understanding of the principles behind these concepts is critical, as immigrants can become easy targets for people who take advantage of their inability to speak English or their lack of knowledge of the laws and regulations here.
NeDA's Financial literacy workshop, centered on the Latino community, is a comprehensive program designed to give you an understanding of this financial system and a way to plan for your future.
What you can expect
The curriculum, “Como Llegar A Ser Parte De La Riqueza En Los Estados Unidos", focuses on three primary areas; savings & investments, asset protection & insurance and home buying.
The financial literacy workshops are offered monthly, at no cost. Each session is 3 hours and meets 4 evenings for a total of 12 hours. Participants who complete the workshop will receive a Certificate of Completion, which may allow for additional benefits.
Upon Completion
Participants who have completed the financial literacy workshops and are income-qualified have the option to apply for an Individual Development Account (IDA) account*. These accounts are an excellent way to establish credit and your path to financial security. By creating a savings plan that matches your dollar 3-1, you can:
- save for the down payment of your first home
- start a small business or
- continue your education.
*These accounts are made possible through a collaboration with Community Action Partnership and their Family Assets for Independence in Minnesota (FAIM) program.
To find out when the next Financial Literacy workshop is scheduled, go to our calendar or e-mail us at info@nedahome.org . You can also call us at 651-292-0131 to register.
Please note that free child-care services are provided for children 3 and over.
