Income: $en$e-Ability project
Help foster youth and adults become financially self-sufficient
10% more households in Amador, El Dorado, Placer, Sacramento and Yolo counties will be financially stable and self-sufficient.
At least 30% (195,000) are not financially stable.
Many reasons, but not knowing how to manage finances is a key reason.
- More than 160,000 households are unbanked or under-banked.
- Three out of every four Americans say they are not saving enough.
- The problem is particularly acute for foster youth.
What We Can Do
Teach people how to manage their finances.
- 25 percent of our region’s households are below the self-sufficiency standard.
- 55 percent of people below this standard have a high school diploma or never graduated.
- 30 percent of the region’s households are unbanked or underbanked.
- Children in financially challenged households are twice as likely to repeat a grade.
- Half of former foster youth experience at least one of these hardships: inability to pay rent or utilities, gas or electricity shut off, phone disconnected or eviction.
United Way’s Project: $en$e-Ability
We use your gifts to fund nonprofits in five counties to work with low-income households and foster youth to help them understand how to manage finances and increase savings. As part of $en$e-Ability, United Way’s Women in Philanthropy is supporting work with foster youth to increase self-sufficiency through Individual Development Accounts, bank accounts that provide a 2:1 match for every dollar a foster youth saves.
Of 1,288 first-year adult participants who completed training, 62% demonstrate better financial skills and now have savings accounts.
Of the 200 foster youth in the program, 90% completed the training and earned credits toward matched savings accounts called Individual Development Accounts.
United Way’s Partners for Success
- Amador-Tuolumne Community Resources
- Child Abuse Prevention Council of Sacramento
- Koinonia Family Services
- New Morning Youth and Family Services
- Opening Doors/Community Link
- Women’s Empowerment
- YMCA Superior California
You can help
All donations help people learn how to manage money. For less that $30 a month, you can help someone become self-sufficient. For $92 a month, you can help a foster youth become self-sufficient.
- Volunteer with a $en$e-ability nonprofit partner.
- Join the United Way Income Impact Council.
- Become a financial literacy volunteer.
- Become and mentor or volunteer for a foster youth.
- Volunteer with the Earned Income Tax Credit program.
- Join Women in Philanthropy.
- Start a savings account for a foster youth.
If you are interested in joining the group of volunteers on the Income Impact Council that oversee this project, contact email@example.com.