CTI was awarded a mini-grant to enable greater attendance at a series of financial education classes by covering expenses associated with attending the classes—including transportation, child care, and food. The classes targeted low-income youth and young adults, ages 14 to 30. Expenses covered by mini-grants often prevent low-income individuals in need of financial education from attending classes.
Food and child care also acted as an inducement, providing a supportive learning environment which contrasted with the unstable home lives of some attendees. According to Lisa Newman, who administered the project for CTI, “Many of our youth are simply living by their wits and couch-surfing for survival.” Attendees were trying to overcome a variety of financial and personal challenges, including staying in school, single parenthood, family instability, criminal records, and disability.
The classes taught basic skills and knowledge, including budgeting, saving, credit, how to write a check, and how to read a paystub. Newman reports that the youth who attended were quite receptive, soaking up the lessons “like sponges.” She notes that, while attendees had different levels of understanding, they tended to grasp “ideas and concepts that are practical and easily implemented.” These included buying used instead of new products and differentiating between needs and wants.
Offering free transportation, child care, and food increased attendance, bringing total attendance to 25. Food was also effective at getting attendees to stay for the entirety of the three-hour class. Several attendees felt the food, which included pizza, sandwiches, and candy bars, to be a special treat, remarking on how good it was.
CTI offers financial literacy classes on a regular basis. Its ability to offer food to attendees depends on securing additional funds.
For further information on the CTI, please visit their website: http://www.ctibrc.org/.