Financial stability is important to everyone, and we believe everyone is capable of achieving financial stability. Thats why the Family Economic Success program is here- to lend a helping hand to those who may need a little guidance down their pathway to economic security and resiliance.
Improving Financial Capability
The recession has made it clear that households at all income levels can struggle with managing their finances and economic stressors. Becoming financially capable is an important step toward becoming financially secure.
To be financially capable, households should:
- Earn enough income to cover monthly expenses
- Track spending
- Plan ahead and save for the future
- Select and manage financial products and services
- Gain and utilize financial knowledge
To help households start and continue to practice these habits guidance should be:
- Relevant: address specific concerns and situations
- Timely: aligned with life events decisions
- Ongoing: long term relationships should provide support and accountability
- Actionable: Knowledge and decisions should be put into action
Through coaching we hope to set the foundation of asset building for families and to create a common language and approach to social service delivery.
Neighborhood Place has been our community’s vehicle for providing families the state, federal and local public benefits they need for safety and stability. However, now we want to support our community by moving families from crisis, where they require assistance with basic needs, to financial stability through coaching and long-term lifestyle changes.
FES Connectors will practice intensive case management at each Neighborhood Place site to ensure that participants have access to all the information, resources and tools they need. These case managers will work directly with families to assess their needs and move them toward a better bottom line by stacking assets and bundling supports. Our goal is for our families not just to get by but to get ahead.
Holistic/Whole Family Approach
Using a Strength-Based Case Management Model, the following services will be provided:
• The entire family will participate in FES service planning process
• Families will guide their pace of case management needs based upon financial needs, self-identified outcomes, barriers to economic stability, and access to financial services
• FES connectors will engage families from the starting point of where the client is financially at during program enrollment.
• Through a comprehensive needs assessment, clients will be referred to community based organizations that build financial assets as well as address any immediate familial needs.
Collaborative & Coordinated Services Delivery
• FES connectors will utilize Family Team Meetings that include a network of partner agencies and community based organizations that promote family self-sufficiency using a strength based/solution focused model.
• Families will be assessed for services offered through the Neighborhood Place system that support basic human needs.
• Families will be linked to a myriad of financial products and services and financial literacy organizations that aid in financial success.
Integration of the Family Team Meeting
The Family Team Meeting was first introduced as a philosophy and practice strategy for child welfare services. The basic premise promotes family involvement and empowers families to come together to generate a plan that first promotes safety and then works to engage other members of the family, and community. This in turn leads to resolving conflict and promotes strengths and hope.
The FES Connectors will integrate Family Team Meetings so that families are engaged in developing plans for financial stability – providing information on accessing additional resources that will assist in moving them farther along the continuum of learning, goal-setting and re-assessment.
We believe that our families will benefit greatly from attention to their economic status and a focus on connecting them to family economic success opportunities – allowing them to invest their energy in other efforts necessary to achieve self-sufficiency. Not only will such attention possibly reduce child abuse and neglect risk factors, enhance child safety and improve family functioning as a family’s economic situation stabilizes but also improve the neighborhoods where they live as well.
Family Team Meeting Resources
Center for the Study of Social Policy
DHS Family Team Standards
Handbook for Family Team Conferencing
FES NETWORK – To learn more about the community-wide effort
Louisville Urban League’s Center for Housing and Financial Empowerment
KentuckianaWorks’ Construction One-Stop Career Center
KentuckianaWorks’ Education and Training