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.
Partners
Credit Canada is a vital confirmed partner for our initiative. They will 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.
TD 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 education to help people manage their money better.
Program
Overview
Program Overview
Introduction to the Financial Education Program for Black Families
Program objectives and goals
Importance of financial literacy and empowerment in building generational wealth
Delivery Methods
In-person workshops and seminars AND Financial Clinics
Online learning platforms and modules
Group discussions and interactive activities
Guest speakers and industry experts with a focus on black financial professionals
Case studies and real-life examples highlighting black success stories
Resources and Support
Access to educational materials and resources tailored to black families
Financial tools and calculators specific to family financial planning
One-on-one financial coaching and counseling services
Networking opportunities with other black families and financial professionals
Partnerships with local community organizations and financial institutions
Evaluation and Impact Measurement
Pre and post-assessment of participants’ financial knowledge and skills
Gathering feedback and testimonials from participants
Tracking participants’ financial progress and achievements
Conducting program effectiveness surveys and evaluations
Continuous improvement and program enhancements based on feedback
Conclusion
Summary of the Financial Education Program for Black Families
Empowerment for participants to take control of their family’s financial future
Next steps and recommended resources for ongoing learning and support
Modules
Module 1: Understanding Financial Basics
Introduction to financial concepts and terminology
Budgeting and managing household finances
Saving and investing for short-term and long-term goals
Understanding credit and managing debt
Accessing and utilizing financial services effectively
Module 2: Building a Strong Financial Foundation
Goal setting and financial planning
Emergency fund establishment and management
Insurance and risk management
Estate planning and legacy building
Building and maintaining good credit
Module 3: Investing and Wealth Building Strategies
Introduction to investment options (stocks, bonds, real estate, etc.)
Risk management and diversification
Retirement planning and savings
Building passive income streams
Impact investing and supporting black-owned businesses
Module 4: Homeownership and Mortgage Management
Benefits of homeownership and steps to homeownership
Mortgage financing options and considerations
Home maintenance and cost management
Refinancing and home equity management
Building equity and generational wealth through homeownership
Module 5: Navigating Financial Challenges and Opportunities
Financial resilience during economic downturns
Navigating student loans and higher education financing
Entrepreneurship and small business finance
Addressing systemic financial barriers and
Strategies for overcoming financial setbacks and
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