All families want to achieve economic self-sufficiency, but moving from one rung of the economic ladder to another can be challenging. Interpersonal skills and family stability are crucial to overcoming poverty and chronic unemployment. Building and properly managing assets—such as savings, a car, and a home—is a proven strategy for moving families from poverty to economic self-sufficiency. Yet, saving money when it feels like every dollar is needed just to make ends meet can be daunting. One first step is to identify where your money is actually going so you can better assess if it’s supporting your financial goals or getting in the way of them. Once you learn the basics, there are lots of free tools and apps online to assist.
Another financial stressor can be differing spending habits. Which is why healthy marriage and relationship education includes critical skills like financial management that set the foundation for sound family financial decisions. Setting family goals and developing an effective, attainable strategy for accomplishing them can reduce stress and increase the likelihood of achieving self-sufficiency.
Click the FROM OUR LIBRARY link for financial management tips and strategies. The resources in our library cover topics such as debt management, budgeting, and financial success.
MyMoney.gov is the U.S. government's website dedicated to teaching all Americans to Spend, Earn, Protect, Borrow and Save & Invest through downloadable budget templates and other tools. || https://www.mint.com/ is a free app that connects to most online US financial institutions so that users can easily manage their finances. || The FDIC's Money Smart financial education program can help people of all ages enhance their financial skills and create positive banking relationships II A Must-Have Financial Priorities Checklist for Married Couples by Black Enterprise offers a list of the top items that married couples should discuss during monthly "money meetings."
Core Healthy Marriage and Relationship Skills: Financial Management is one of four courses in the Core Healthy Marriage and Relationship Skills series. This series uses an “inside-out” approach: The course will help you better understand managing finances at a personal level; and equip you to better manage resources. Check out the course, then take the quiz and see how you do!