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Financial Stability

PUTTING PEOPLE ON THE PATH TO FINANCIAL STABILITY

We believe that struggling people who work hard should be able to keep more of what they earn and start saving for a brighter future.

This year, 379 people received free one-on-one budget coaching in our region through United Way funded programs.

According to a 2018 report from the Federal Reserve Board, 40% of Americans can’t cover a $400 emergency expense. When an appliance breaks down or a car repair is needed, people are forced to go into credit card debt, often paying high interest rates.

Sometimes troubling or difficult domestic situations leave people in dire financial straits that are not their fault. A divorced mother may have to learn to cope on just one salary when child support payments are late or disappear. A job loss may put someone behind on their mortgage, leaving their credit score in tatters.

Like you, we understand that sometimes people face financial crises that are beyond their control. They are looking for a hand up, to get back on their feet, not a hand out.

OUR SOLUTION

We focus on programs that put dollars back into the pockets of hard-working people, while helping them manage their money on a limited budget. Here’s what we’re doing: (ICONS OF DOLLAR SIGNS(?) IN PLACE OF BULLETS)

  • Offering free one-on-one budget coaching that focuses on creating household budgets, working toward a financial goal, and improving credit scores.
  • Providing low-income households with an incentive savings program that gets them in the saving habit and provides free, on-line financial advice.
  • Providing free tax preparation services for low-income households to ensure that they are getting the tax credits and the tax returns they are entitled to.

HOW WE’RE DOING SO FAR

184 people increased their credit health in 2018 through one-on-one budget coaching

319 people in Connecticut became savers in 2017, thanks to ALICE Saves

$2.94 million in federal tax refunds returned to low-income taxpayers in our region

STRATEGIC INITIATIVES

By bringing together community and statewide partners, we’re implementing initiatives that get people on the path to brighter financial futures.

ONE-ON-ONE BUDGET COACHING

Coaches work with clients to confidentially review income and expenses to find ways to better manage household budgets, set financial goals, and repair credit scores. >>Learn more

ALICE SAVES

This incentive savings program provides a $10 match for every $20 saved for 6 months, helping people get in the savings habit, while also offering free financial advice at the user’s convenience. >>Start saving

VITA and MyFreeTaxes.org

By providing free tax preparation services, VITA and MyFreeTaxes.org put money back in the pockets of low-wage earners by helping them get the tax refunds and credits they deserve. 
>>Learn More

EMERGENCY FOOD & SHELTER PROGRAM (EFSP)

United Way of Western Connecticut administers the Emergency Food and Shelter Program in Danbury and Stamford. This program brings federal funds into our cities to cover expenses related to utilities, food, rent, and homelessness.  >>Learn more

THE GIVING FUND

The Giving Fund helps make the holidays a little brighter for families and individuals who are facing severe struggles. It is partnership between United Way of Western Connecticut, the Danbury News-Times, and local nonprofit agencies. >> Learn more