Accessing Financial Literacy for Low-Income Families in Delaware
GrantID: 2659
Grant Funding Amount Low: $10,000
Deadline: Ongoing
Grant Amount High: $25,000
Summary
Grant Overview
Delaware's Financial Literacy Deficiencies
Delaware faces a significant challenge in addressing financial literacy among low-income families, where the cycle of poverty is often perpetuated by a lack of understanding regarding budgeting, savings, and financial management. The Delaware Department of Health and Social Services reports that low-income families are often vulnerable to economic instability, with many not having access to essential financial education resources. This lack of knowledge can lead to poor decision-making, resulting in unsustainable debt and diminished economic opportunities.
The initiative primarily targets low-income families in Delaware, particularly those living in urban areas where access to financial education can be limited. Many of these families struggle to navigate the complexities of financial systems, often feeling overwhelmed by financial responsibilities. By focusing on this demographic, the program seeks to equip individuals with the skills necessary to achieve financial stability and independence.
To be eligible for this funding, organizations must demonstrate their capacity to deliver comprehensive financial literacy workshops that are accessible and tailored to the unique needs of low-income families. Participants will engage in interactive sessions that delve into topics such as budgeting, saving strategies, and understanding credit. The program's objective is to empower families with practical skills that can lead to improved financial health and inclusivity within Delaware’s broader economy.
The expected outcomes of these workshops include dramatic improvements in household financial stability. By providing families with the tools they need to manage their finances effectively, Delaware can foster a more informed citizenry, ultimately leading to greater economic empowerment within communities. Furthermore, as participants apply these skills in their daily lives, the long-term impacts could contribute to a decrease in reliance on public assistance programs.
Eligible Regions
Interests
Eligible Requirements
