How can community outreach promote financial literacy and economic empowerment?

As the country experiences low unemployment numbers there is a growing sense of excitement about the future. Many of our youth residing in disadvantaged communities area do not share that sense of excitement. They do not share the same sense of HOPE that many adults feel because they don’t honestly believe that they will be able to participate in the growing economy. Too many of our youth don’t see the point in working hard and getting a good education because they don’t believe it will pay off financially. We believe that one of the best ways to plant these “seeds of hope” and optimism in our young people is by exposing them to our (WYTV7) Financial Literacy Training.

We are missing critical teaching moments about basic life skills in our educational and social reality. We can no longer make the assumption that folks know how to budget, manage a checking or savings account or even have an understanding of how our collective economic ecosystem works. Community outreach around these topics can inspire individual financial vitality and growth through providing the needed awareness, knowledge, skills, and action.

Community outreach can provide experts with an understanding of context. This allows for the right questions to be asked, the community's input to be seen, existing formulae to be explored and strengthening of skills and expertise to be done. Most communities have a better understanding of their problem than 'outsiders'. Therefore, community outreach can offer a lens into knowing what the reality of a context is, and provide avenues for community engagement so that a proper solution is embraced.

I am proud to work for an organization that leverages and invests in promoting Financial Literacy educational programs, we spread the knowledge to the people who need it in underserved communities. We elevate our resources to make sure we are serving our diverse communities equally. Financial Literacy impacts the lives of individuals and entrepreneurs by preparing them to thrive and succeed in their financial decisions. A lot of individuals/Entrepreneurs are not aware of the importance of building a good relationship with the banking system, access to capital is a major component of growing your own business, and to get it you need to be bankable.

Following the golden rule, one of the most effective ways to get communities out of their financial challenges is to pair members in these communities with successful people to mentor them to succeed especially small-medium business owners. Finding and empowering innovative entrepreneurial talents among the underprivileged is a power multiplier for the community as well as the business owners as it creates a network effect of business collaboration and goodwill.

On the global platform the issue has far vast implications as countries in Africa and Asia are battling high rates of unemployment and poverty. The majority of those affected are youth and young adults as in some countries they make up over 70% of the population. Growing up in the the East African nation of Kenya, I witnessed unprecedented currency devaluations to an all time low. Where does someone begin to think of financial know how when poverty looms? Per world bank reports - Kenya’s is in the middle of a perfect storm, and the declining Shilling is the most visible manifestation of Kenya’s economic woes. This is the story through much of Africa and other countries in Asia.

I have worked with many populations at the community level providing financial services for low income people to improve incomes and livelihoods. What I found to be a limiting factor in accessing financial services was the lack of financial literacy to take informed decisions about money and economic empowerment. The increased community outreach in the services provided became an important tool in promoting financial literacy which was delivered to the communities at group levels. Many of our women and youth residing in rural areas are still lacking financial literacy and so there is still much to be done by increasing community outreach to promote financial literacy and economic empowerment .

I had the privilege of serving on a United Way grant review committee focusing on financial literacy, which allowed me to witness the community component. Financial literacy extends beyond budgeting and saving—it helps secure better jobs, reduce debt, and build savings. It impacts aspects of a person's life, from education and health to long-term planning. By enabling families to plan for the future, financial literacy becomes a catalyst for positive change. Community organizations and corporate philanthropy programs can assist in providing financial literacy by offering counseling, education, scholarships, and advocacy. They help people improve their financial skills and well-being.

First and foremost, educate yourself on your own financial literacy. It can seem overwhelming at first so ask for help. Advocate for yourself, and your clients, so the the knowledge you need, can become your own and you can then guide others. Supporting people to find financial literacy and independence is so important!

Building relationships and bridging connections through outreach is a stepping stone to some level of economic and financial literacy for disadvantaged populations. Taking the time to build relationships through valid mistrust in government services etc, allows interpretation, connection, support and more.

My educating family members and friends and community members in a positive ongoing manner on the importance of these issues, etc. And creating programs and campaigns on these subject matters that connects to them and inspire them on these important issues!

Witnessing my parents' journey to financial independence fueled by my dad's access to veterans' benefits was transformative. Economic empowerment enables better jobs, reduced debt, and increased savings, touching every aspect of life. It empowers families to plan for the future, access quality healthcare, and support their children's education—a catalyst for positive change and a brighter future. Economic empowerment is the ability to benefit from economic activity. It varies by context and needs but often requires access to services, education, job training, mentoring, coaching, credit counseling, and money management programs. These programs help overcome barriers and challenges.

I personally make sure that I support local businesses who hire from the community. I believe this empowers both the business owner and his employees. Then I can share my positive recommendation to ensure that their business receives more traffic.

Economic Empwerment is still a big challenge in the Indigenous Peoples' world in total absence of financial literacy. I would recommend the finial institutions to designs activities and programmes to reach out to them and help them grow basic habits of banking first on the ground to empower them to move forward towards economic empowerment.

Economic empowerment is a pay it forward system. From humble beginnings to working in a retail/fast-food chain restaurant to the career you long dreamed of. Its comes with a range of salary and a bit of a reflection of how far you have come. There is always someone giving you the hand to move up or get your feet wet in the field you need to break in. Economic empowerment has a parallel relationship with mentoring. It takes maybe a talk from a parent or someone in the street who is looking out for you to give you the motivation to excel and attain more than you had before.

Working as a part of Snap Education I have been influenced by economic empowerment to guide those in our community. Education and giving out resources are the first steps to economic empowerment.

Economic empowerment is a transformative concept that centers on enabling individuals and communities to take control of their economic destinies and improve their overall well-being. By promoting economic empowerment, we aim to break down barriers and inequalities that hinder financial progress. It's a way to uplift individuals, particularly those in marginalized or disadvantaged communities, and promote economic self-reliance. When people have the means and knowledge to support themselves and their families, it not only benefits them, but also contributes to the growth and development of society as a whole.

This is a major one in my job, the main resource that we plan to put in place for our people is the Economic Empowerment or Development series, this helps our community partners that are serving low-income families to help them get the stability they need in their lives. The most important thing about economic empowerment is that people can make correct financial decisions about their small businesses and/or investments. Also, these types of resources get access to Women and Youth to economic opportunities including jobs, properties, productive assets, and developing skills.

This is what I do, this is my 7 days a week job, I plan and take every opportunity on how I can reach our community in an impactful way, in other words how I can elevate the resources I have been given to my people. To do all that you need to build relationships and enhance skills and knowledge this will allow you to provide help for the people in need of assistance.

When we engage in community outreach, we have the power to transform the world for the better. It begins with individuals who are passionate about serving those facing barriers or disadvantages in accessing opportunities for growth and advancement, be it in education, health, economics, or finance. For me, my passion lies in educating, training, and developing students at Historically Black Colleges and Universities (HBCUs) for successful careers in Science, Technology, Engineering, and Mathematics (STEM). As an HBCU graduate who works in the sciences, I understand the challenges these institutions face, and I'm committed to helping students overcome them so they can achieve their full potential as the next leaders in STEM.

From 3 years serving in AmeriCorps to being a Major Gift Officer to fund the needs for people making the difference happen. I see how in a team/Community we all have a role to play. Community Outreach is the understanding of we have a bond of where we serve or live at. A need that has to be fulfilled and coming to the consensus we are here to prosper together as a community. A lot of resources is basically a hand extended and hoping someone in the community can extend it back. Seeing eye to eye and making it work.

Community outreach is crucial for several reasons: Building Trust and Relationships: By reaching out and involving the community in meaningful ways, organizations establish trust and rapport. Community members feel respected and valued when they are part of the conversation, which fosters a cooperative relationship between them and institutions or organizations. Improving Awareness and Education: Community outreach initiatives often provide critical information and resources that the community might not be aware of. This education can empower individuals, giving them the tools they need to make informed decisions about their financial and economic health.

Community Outreach is going into your community, whether that's where you work, live, grew up, etc and bringing in resources that will help them grow engagement, financial stability, and work/ school readiness by hosting/facilitating workshops, events, and activities. It's about gaining trust, being supportive of all, and ensuring no one is lacking; the only way for the community to grow is for those involved to grow, too.

Community outreach is vital because it bridges the gap between organizations and the people they serve. It allows us to understand and address the real needs of our community directly. By engaging with people, we can build trust, gather valuable insights, and work collaboratively to create meaningful and impactful solutions that truly make a difference in people's lives. It's about fostering a sense of belonging, support, and shared responsibility, creating a stronger, more connected community for everyone.

Community outreach promotes financial literacy by making financial education accessible. It offers workshops, local experts, and partnerships with institutions to bring financial knowledge directly to the community. This empowers individuals to make informed financial decisions, improving their economic well-being and contributing to the overall financial health of the community.

Through my community outreach, building relationships with community members who work with school and college students, youth, adults, and seniors seeking social services with all these relationships we are promoting our financial literacy educational programs series, we create these free workshops and made them available to raise awareness in all our underserved communities about the importance of saving money, and how to budget, and make the best financial choices in your life. We also help entrepreneurs in their small business growth and provide them with lending opportunities (access to capital). The bottom line, it will be impossible to promote financial literacy without a very good plan for community outreach.

Community outreach plays a pivotal role in promoting economic empowerment in several strategic ways: Financial Literacy and Education: Community outreach programs often include educational components that improve financial literacy. By understanding budgeting, savings, investments, and financial risks, individuals can make informed decisions that improve their economic status. Access to Financial Services: Such access provides a foundation for economic stability and growth, allowing individuals to secure loans for education or entrepreneurship, protect their savings, and potentially improve their credit standings.

What makes community outreach effective is the relationship,genuineness, and intent of the provider or purpose for which they offer support in the first place. For instance I was struggling financially and really wanted to own a home. I found a woman who was giving free financial literacy information, q&a"s, homework etc all online. She was someone I could identify with based on the information she shared about herself and her reason for giving. She created a safe place for me to learn and ask questions. It was a go at your own pace type situation with a little accountability built in. This gave me the encouragement I needed to face my financial situation and own the solution. I saved and budgeted my way into home ownership 4 years later.

Promoting economic empowerment through community outreach can be beneficial for those who lack resources for economic opportunities. The progress of our community's economy can lead to the advancement of our state, national, and global economy. To contribute to this, I have founded a non-profit organization that helps students at Historically Black Colleges and Universities (HBCUs) pursuing careers in STEM. Our non-profit empowers students by connecting them with corporations for internships/jobs, providing information on scholarships, and offering professional development resources for a successful life after college. My personal goal as an advocate for HBCU students is to lobby for them at the government level.

Getting involved would need knowing your community, understanding the issues, deep diving into the pressing challenges, practicing cultural skills, serving the community's needs, and providing assistance when needed.

Getting involved in community outreach starts with identifying issues that burden your heart. This might involve reducing the number of foster children in your city, or increasing the representation of minority students that apply AND attend college. You can join existing organizations that serve these communities, or you can create your own. For instance, I established a non-profit for students enrolled in Historically Black Colleges and Universities (HBCUs) who are interested in pursuing careers in STEM, as I could not find any other similar organization in my city or state. At times, you may be the answer to a local, national, or even global issue.

I believe that community outreach is essential for promoting financial literacy and economic empowerment. When people have access to financial education and support, they are better equipped to make informed financial decisions and achieve their financial goals. This can lead to a number of positive outcomes, including increased savings, reduced debt and improved credit scores. Community outreach programs can also help to break down barriers to financial inclusion. By providing financial education and support to underserved populations, community outreach programs can help people to access the financial products and services they need to succeed.

Practice gratitude. Gratitude is the recognition and initial investment in the wealth you possess. It might be money, talent, experience, skills, knowledge or manual capacity. It may be the fact that you live. It might not be much and it might not be as much as the next person but it is what you have got. Pay attention to it! Stop worrying about yourself. Find happiness in making others happy. Who needs what you have? What problems do people have that you have the solution for? What problems have you solved that other people share? Never see a need without doing what you can to alleviate it. Take responsibility. Act. Do something. The world desperately needs people to step up and take responsibility. You are a hero, not a victim.

Financial literacy is an essential component of economic empowerment and upward mobility. We have to learn how to access and use money. Many of these tools are available but we lack awareness. In the virtual And AI world, community outreach and engagement are extremely important. Many community residents are not prepared to participate in this new world and being left behind. So we need trained community specialists and funding to pay them.

Community outreach can be used to sensitise people on personal financial management, budgeting and investment opportunities. In this case, people would acquire relevant competencies for wealth creation.