Building Financial Literacy Capacity in Des Moines
GrantID: 63417
Grant Funding Amount Low: $15,000
Deadline: Ongoing
Grant Amount High: $15,000
Summary
Grant Overview
Financial Literacy Workshops in Des Moines
In Iowa, the financial literacy gap is a significant issue, particularly in urban areas such as Des Moines. Approximately 40% of adults in the state lack basic financial knowledge, which can lead to poor financial decisions and increased economic vulnerability. This lack of understanding regarding budgeting, savings, and debt management is particularly pronounced among low-income families, who often lack access to financial education resources.
The populations most affected by this gap include low-income families, immigrants, and young adults entering the workforce. In Des Moines, where economic disparities are evident, these communities often find themselves at a disadvantage when navigating financial products and services. Without a solid foundation in financial literacy, individuals may struggle to make informed choices that could improve their overall well-being.
The Financial Literacy Workshops initiative aims to equip low-income families with the knowledge and skills needed to achieve financial independence. By adopting a digital delivery model, the program makes it easier for participants to access workshops at their convenience, breaking down barriers related to transportation and timing that may prevent attendance. The curriculum focuses on practical skills such as budgeting, credit management, and investment basics, tailored to the specific needs of Iowa residents.
In a state where economic mobility is increasingly crucial, improving financial literacy among underserved populations can have far-reaching impacts. By empowering individuals to manage their finances more effectively, the initiative aims to decrease reliance on predatory lending practices and increase financial stability. This is particularly vital for communities in Des Moines that face systemic economic challenges and have limited access to traditional banking services.
Furthermore, the program will collaborate with local organizations to provide additional resources and support, ensuring participants have ongoing access to financial advice and assistance after the workshops conclude. This comprehensive approach will help several residents transform their financial futures while contributing to a more financially literate community overall.
Eligible Regions
Interests
Eligible Requirements
