FINANCIAL CAPABILITIES INITIATIVE
OVERCOMING THE POVERTY MINDSET
Community Services League is part of the LISC Financial Opportunity Center network, helping people build financial stability and self-sufficiency. Through education, coaching, access to affordable loans and more, we support our neighbors in their journey to change.
THE CHALLENGE FOR THOSE LIVING IN POVERTY
“With this combination of a lack of options and knowledge, it’s too easy for people to feel trapped in a cycle of poverty.”
Financial options are limited for people in poverty. Most financial institutions are not oriented to serve them, and the options that they do have are less than desirable. As a result, it’s easy to fall victim to toxic debt like payday or title loans, over-priced auto loans, and high-interest credit cards.
This situation is coupled with a lack of money management knowledge that leads to poor financial decisions. With this combination of a lack of options and knowledge, it’s too easy for people to feel trapped in a cycle of poverty. This fuels the poverty mindset – a belief that they are stuck and will never be able to climb out of poverty.
Financial education
CSL offers financial education to help people in poverty build financial knowledge to make better decisions so they can improve their credit score, build their net worth, and become financially self-sufficient.
Financial coaching
Through one-on-one coaching, people can assess where they stand. From their credit score to their financial wellbeing. Rather than being limited by the fear of losing aid, they can learn how to use government benefits as a bridge to the outcome of income – viewing work and managing money as a pathway to financial self-sufficiency.
NextStepKC
NextStepKC is a CSL led initiative that provides affordable access to capital for those in poverty. From breaking the cycle of toxic payday loans to targeted small-dollar loan programs that address housing instability, transportation problems, and other challenges. Visit the NextStepKC website here.
Employment Opportunities
When you consider what a person makes over a lifetime, it becomes evident that their ability to work may be their most valuable asset. CSLhelps people with training programs and support services to increase lifetime income through work.
Help make this a world that works for all
Your investment helps build the financial capabilities that people who struggle desperately need to lift themselves out of poverty. For more information or to make your investment, please contact CSL Chief Development Officer, Jennifer Hurst:
p: 816.491.2011