This blog post from the U.S. Department of Health and Human Services (HHS) is part of the Self-Sufficiency Series: Solutions from the Field. The series profiles local programs from across the country finding solutions that meet HHS’s Strategic Plan for encouraging self-sufficiency and personal responsibility, and eliminating barriers to economic opportunity. The blog highlights the partnership between the Nurse-Family Partnership and Goodwill of Central and Southern Indiana. The organizations have joined hands to improve the health of low-income, first-time mothers and their babies and to strengthen the economic stability of their families.

More than one in four Americans has subprime credit, according to research conducted by the Urban Institute. This rating has substantial effects on the rates and costs of borrowing; for a $10,000 loan, someone with subprime credit can expect to pay about $3,000 more than someone with good credit. Because vulnerable populations, such as minorities and low-income citizens, are more likely to have subprime credit, this disparity presents a serious issue and can exacerbate poverty gaps. Many people believe perpetuating credit myths that can harm their scores and thus their financial well-being, such as: everyone has a credit score; you have to be wealthy to have good credit; paying your bills on time will translate to a good credit score; inquiries can ruin your credit score; having multiple credit cards is bad for your credit score; you have to go into debt to build credit; and rent, payday, and auto-title loans can help you build a credit score. It is important for workforce development programs and self-sufficiency stakeholders to understand these myths and disseminate correct information to help raise the subprime credit scores of people with whom they may work.

While the Earned Income Tax Credit (EITC) is a popular anti-poverty and pro-work policy that provides a refundable tax credit to low-income Americans, most of its dollars go to families with children. Because there are significantly fewer resources for workers without children, New York City and Atlanta piloted a “Paycheck Plus” program to give single workers more generous benefits. This report by MDRC finds that this program reduced extreme poverty and modestly increased employment rates, particularly for women and the lowest-income men. The researchers speculate that increasing people’s knowledge of employment services may increase the employment effects of the program, which could be an area of expansion for similar interventions going forward. Paycheck Plus also had additional social benefits like increasing tax filing rates and increasing child support payments, leading MDRC to conclude that work-based safety net programs have measured effects on poverty and employment for low-income Americans.

This Prosperity Now resource guide supports organizations in developing a participant-centered financial coaching program. Grounded in a field survey, over 100 interviews, expert advice, and beta-testing with six new financial coaching programs, the coaching guide highlights the strengths and limitations of financial coaching, offers designs tools, showcases promising models and practices, and includes resources from program leaders and financial coaches.

This interactive tool provided by the National Center for Children in Poverty allows users to identify current legislation and policies across states regarding these following key policy areas and others: child care and development fund subsidies, family and medical leave, SNAP eligibility, Medicaid income limits, and TANF eligibility criteria. The tracker enables policy and decision makers to learn about policies in the social and poverty domain.

The Bureau of Consumer Financial Protection is continuing its Youth Employment Success (YES) initiative with a new 2019 cohort. This program aims to improve financial literacy for youth in job readiness programs and is looking for five new programs across the country that are interested in creating and testing tools to help youth better understand their finances. Ultimately, the program goal is to improve socioeconomic self-sufficiency and employment outcomes in youth job programs, as well as develop sustainable tools to serve youth across the country. If selected, the programs will receive access to new tools developed by the Bureau and will also be able to evaluate and make suggestions on the tools. Selection criteria include mission alignment, organizational capacity, target population, willingness to share feedback, and relationships with similar programs. If you think your program and participants would benefit from a tool and training to improve young adult finances, email empowerment@cfpb.gov with a Letter of Interest by November 26, 2018. Other resources for Youth Employment Programs can be found at https://www.consumerfinance.gov/practitioner-resources/resources-youth-employment-programs/.

The analysis of this report, prepared by a study group of researchers from the Brookings Institution and the American Enterprise Institute, has two key parts: it identifies individuals who constitute the working class by location, educational attainment level, types of work held, levels of homeownership, and labor force participation; and it presents solutions drawn from working models for job creation, increased wages, and increasing community engagement.

The Bureau of Consumer Financial Protection is continuing its Youth Employment Success (YES) initiative with a new 2019 cohort. This program aims to improve financial literacy for youth in job readiness programs and is looking for five new programs across the country that are interested in creating and testing tools to help youth better understand their finances. Ultimately, the program goal is to improve socioeconomic self-sufficiency and employment outcomes in youth job programs, as well as develop sustainable tools to serve youth across the country. If selected, the programs will receive access to new tools developed by the Bureau and will also be able to evaluate and make suggestions on the tools. Selection criteria include mission alignment, organizational capacity, target population, willingness to share feedback, and relationships with similar programs. If you think your program and participants would benefit from a tool and training to improve young adult finances, email empowerment@cfpb.gov with a Letter of Interest by November 26, 2018. Other resources for Youth Employment Programs can be found at https://www.consumerfinance.gov/practitioner-resources/resources-youth-employment-programs/.

This blog from the U.S. Department of Health and Human Services, authored by OFA Director Clarence H. Carter, is part of the Self-Sufficiency Series: Solutions from the Field, which profiles local programs from across the country finding solutions to accomplish the goals of encouraging self-sufficiency and personal responsibility, eliminating barriers to economic opportunity, and supporting strong families and healthy marriage. In particular, Circles USA and Open Table are highlighted for their efforts to boost the social capital individuals need to help them work towards self-sufficiency.

This blog post from the Consumer Financial Protection Bureau highlights recent research regarding teens in the U.S. and their level of financial literacy. The research results did show room to improve financial literacy among teens, but it also showed that many teens do discuss financial issues with their parents regularly, and that those holding a bank account have higher levels of literacy. The article concludes with links to other pertinent resources.