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 all together.
Committed to Helping People
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.
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