The Financial Hope Collaborative and its Financial Success Program, housed at the Heider College of Business, have been instrumental in helping many low-income families in the Omaha metropolitan area find financial stability.
The Financial Hope Collaborative was started when United Way of the Midlands created the Financial Stability Partnership in 2006. The Financial Success Program has been part of the Heider College of Business since 2010 and has one of the highest retention rates for a financial education program in the country.
The program’s curriculum helps low-income single mothers address immediate financial issues and develop personal skills in areas, such as:
- Tracking expenses
- Saving for emergencies
- Repairing credit reports
This yearlong program provides ongoing financial coaching and assists participants in developing personal and easy-to-use money management systems.
Learn more by following the Financial Hope Collaborative blog.
The following is the course outline for the Financial Success Program:
Students receive an overview of the Financial Success Program. Students commit to the one-year process, fill out an application, and take the online pre-test.
Psychology of Money
Understanding the “how” and the “why” behind our spending patterns are keys to making behavioral changes. A group exercise helps reinforce this classroom lesson.
Students are given tools to begin tracking expenses. Tracking expenses is vital to setting financial goals.
The truth about predatory lending is exposed. Alternative methods are shared and the students begin to realize the value of good credit.
Students receive a copy of their credit report and score. They will learn how to read their report and dispute any errors.
Level Payment Plans
Representatives from the local utility companies share energy saving tips and help students sign up for the level payment plan.
Understanding Insurance & Retirement
Students gain a better understanding of the importance of having a retirement income and auto, life, health, life and renter’s insurance.
Health & Finances
This class covers the importance of a healthy lifestyle and the impact financial stress can have on health.
Students meet with their financial coach to set realistic and measurable goals.