Financial Stability

If you have no support system and/or work a minimum wage job, it can be difficult to pay debts, build credit, and save. Any unexpected expense can strain or break a safety net, assuming you have one.

While many people believe that only those with low incomes live paycheck to paycheck, people of all classes can struggle to make ends meet. A survey conducted by the Federal Reserve Board found that nearly half of Americans would have trouble coming up with $400 in an emergency—they would either have to sell something, borrow money, or would be unable to pay it altogether.[LA1] 

We are committed to helping people become more financially stable, whatever their income, which is why we offer services designed to improve financial literacy, including classes on how to open a bank account,  address debt, keep a budget,  build credit, and save.

“Mercy Housing had finance classes that taught me all about credit and how to get my credit score where I wanted it!”—Ginger, a pediatric nurse, mother, and former Mercy Housing resident.

Challenges Facing Residents:

  • Low financial literacy
  • No bank account
  • Low credit or no credit
  • Minimum wage job
  • Limited emergency savings or assets

Opportunities offered at Mercy Housing communities:

  • Financial literacy classes
  • Individual support related to budgeting and money management
  • Job readiness classes, including GED support
  •  Resume-writing support
  • Computer literacy classes