FINANCIAL EDUCATION
The goal of the Financial Education Program for Black Families is to empower black individuals and families with the knowledge, skills, and resources necessary to improve their financial well-being, build generational wealth, and create a strong financial foundation for their families. By providing comprehensive financial education, we aim to equip participants with the tools and strategies to make informed financial decisions, manage their personal finances effectively, and navigate financial challenges and opportunities.
We are happy to have been supported by TD Bank Group through its corporate citizenship platform, TD Ready Commitment to sustain this program and continue to build skills in the community.
Partners
Credit Canada is a vital confirmed partner for our initiative. They play a pivotal role in providing
credit counselling services to participants. Their expertise in credit and debt management, along with their commitment to financial education,
enhances the depth and quality of the services we can offer to our community.
TD Bank Group supports educational initiatives that empower individuals and put them on a path towards lifelong learning and economic success.
Financial literacy is crucial for achieving financial security. TD helps people gain confidence by providing access to tools and programs that can increase financial skills and knowledge
for the digital age.
The Credit Counselling Society is an accredited non-profit that helps Canadians solve their money problems. They provide
free credit counselling, low-cost debt solutions, and financial education to help people manage their money better and achieve financial independence.
Program
Overview
The Financial Education Program for Black Families aims to empower individuals through increased financial literacy. It outlines clear objectives and goals, emphasizing the importance of financial empowerment in building generational wealth. The program provides a comprehensive overview and sets the foundation for financial resilience in the community.
Delivery Methods
The program uses diverse delivery methods, including in-person workshops, financial clinics, and online learning platforms. Interactive activities and group discussions are used to ensure participant engagement. Guest speakers and black financial professionals contribute their insights through real-life case studies and success stories to inspire participants.
Resources and Support
Participants gain access to a variety of tailored financial resources, including educational materials, planning tools, and calculators. One-on-one financial coaching and counseling sessions are also available. The program encourages networking among black families and professionals, supported by local community organizations and financial institutions.
Evaluation and Impact Measurement
Evaluation is conducted through pre- and post-assessments of financial knowledge and skills. Continuous feedback is gathered via surveys and testimonials to track progress. The results guide ongoing program improvements and highlight key achievements in participants’ financial journeys.
Conclusion
This financial education initiative is designed to empower families to take control of their financial future. It offers a structured path for learning and growth, while providing access to tools and ongoing support. Participants are encouraged to continue building on their knowledge through additional learning resources and support systems.
Modules
Module 1: Understanding Financial Basics
This module introduces participants to essential financial concepts and terminology, providing the foundation for better money management. It covers budgeting, household financial planning, saving and investing strategies for both short-term and long-term goals. Topics such as credit understanding, debt management, and effective use of financial services are also included.
Module 2: Building a Strong Financial Foundation
Participants learn how to set realistic financial goals and build emergency funds. The module explores risk management, insurance strategies, estate planning, legacy building, and maintaining a good credit score to achieve financial stability.
Module 3: Investing and Wealth Building Strategies
This module introduces diverse investment options such as stocks, bonds, and real estate. It teaches risk management, diversification, and retirement planning. Participants also explore passive income opportunities and impact investing, with a focus on supporting Black-owned businesses.
Module 4: Homeownership and Mortgage Management
Focused on homeownership, this module covers the benefits and steps toward owning a home. It includes topics like mortgage financing, cost management for home maintenance, refinancing, and building equity to generate generational wealth.
Module 5: Navigating Financial Challenges and Opportunities
Participants develop strategies for financial resilience during economic downturns. The module addresses student loans, higher education financing, small business finance, and systemic financial barriers. It concludes with approaches to overcome financial setbacks and build future opportunities.