Educating people in our community about financial literacy is an important part of our work at Habitat for Humanity. We discuss money-management skills with homeowners to help their long-term financial stability, and we offer financial literacy programs to educate the broader community.

Financial education helps people budget, pay their bills, and put away more money for life goals and emergencies. On top of that, it builds self-reliance and long-term stability, which allows people to create better outcomes for themselves.

In fact, a recent report from the Financial Industry Regulatory Authority (FINRA) showed that folks with higher financial literacy are more likely than those without it to live within their means, have at least one retirement account, and have saved three months’ worth of income in an emergency fund. 

Read on to learn more about our work to improve financial education in our community and the successful outcomes of our students.
 

Habitat’s Financial Literacy Programs

Habitat for Humanity of Summit and Wasatch Counties offers two financial literacy programs: a series of free workshops to help people improve their financial stability and the She Means Business four-week course specifically for women.

Our workshops are open to the public and cover a number of topics, including:

• Homeownership 101
• The Building Blocks of Financial Health: Budgeting, Spending and Saving
• The Ins and Outs of Your Credit Score and General Banking Services
• The Mortgage Process
• Savings and Retirement Planning
• Investing Basics
• Overview of Habitat Programs & Affordable Housing Opportunities in the Community
   

Our She Means Business course is open to women of all ages and income ranges who are interested in improving their relationship with money. We also recommend that every woman who’s accepted into our homeowner program goes through this course, and it counts toward their “sweat equity” hours. The course empowers women in our community to get a broader understanding of their finances and think more aspirationally about their future.

Topics in this four-week program include:

• Your Money Story & The Power of Intention
• The Building Blocks - Budgeting, Savings, and Financial Goals
• The Ins and Outs of Credit & the Mortgage Process
• The Basics of Investing & Local Affordable Housing
• Visioning & Goal Setting

Instructors for this program are volunteers who are local to our community. They have included financial experts from American Express, America First Credit Union, Journey Strategic Wealth, Fairway Independent Mortgage Corporation, and Habitat’s executive director, Shellie Barrus.

Successful Outcomes from Our Financial Literacy Programs

While the concepts in our programs may seem basic, the lessons people learn and the confidence they gain from being able to better manage their finances are truly life-changing. Course graduates are able to buy a home or open a small business thanks to the tools they’ve learned. Homeowners are able to budget their money to stay in their homes while planning for future expenses. The outcomes also extend across generations, as parents are educating their kids about budgeting and saving up money for large purchases.

The secret to this success is in the supportive environment we establish in our financial programs. For example, the She Means Business course starts with students drawing a picture of their money story, delving into how they think about money, what messages they’ve received about it, and what negative feelings they associate with money. Any shame, fear, and frustration is worked through in the positive environment of the classroom, thanks to supportive instructors who empower and advocate for students while teaching them how to advocate for themselves.

The course ends with making a vision board to help graduates focus on their money goals and how to achieve them.

Sign Up for Our Financial Literacy Programs

Check out our calendar to see what financial literacy programs are coming up. If you’re interested in our She Means Business course, email programs@habitat-utah.org to be notified about future classes.