Breaking down the long-term impact of building family self-sufficiency
MHA’s Family Self-Sufficiency program provides services to families with significant or multiple barriers to reaching economic security. Participants often require assistance with many basic needs, including housing, mental and physical health and nutrition, as well as support in obtaining work-related skills or educational goals. FSS enables families to increase their earned income and reduce their dependence on welfare assistance and rental subsidies. New on our blog, we outline three ways this program has a positive, long-term financial impact on families.
Increases financial literacy
Financial understanding gives residents the tools to plan for the future, but most importantly, it gives them a greater sense of control over their finances. When parents are financially literate, they have the ability to pass that knowledge down to their children, who then form healthy financial habits based on what they’ve learned from their parents. FSS offers financial coaching services that help jump-start a family's journey toward financial competency.
Increases financial savings
Having a nest egg is crucial for all families – it can help cover expenses during events such as temporary unemployment, unexpected medical leave, downturns in the economy etc. MHA’s Family Self-Sufficiency program encourages pursuit of long-term higher earnings through education and training, and families can build substantial savings with the free information and tactics they learn through this program.
Increases financial independence
The goal of the FSS program is to provide vulnerable families with the necessary tools needed to sustain themselves, thrive and move up the economic ladder. Program participants work with an FSS service coordinator to identify their financial and employment-related goals, including education or training. Participants can also access a range of support services, such as child care or credit repair, that offer assistance in achieving their financial independence.
Being financially stable has tremendous benefits for our overall health and well-being, extending far beyond the ability to pay bills on time. If you’re interested in learning more about our Family Self-Sufficiency program, click here.