Community Action Partnership of North Alabama

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Financial Capabilities and Budgeting

2018 Consumer Finance Survey Results

Highlights

  • 38 percent of adults with income below $75,000 have no emergency savings in place.
  • Moderate-income renters are much more vulnerable to financial stress than homeowners
  • 58 percent of adults with income below $75,000 do not follow a follow a formal budget plan.
  • 36 percent of consumers surveyed don't have both a checking and savings account

To see the full survey results, visit NeighborWorks® online.

What is Financial Capabilities?

 

Financial capabilities and budgeting workshops are held in local communities of the counties that we serve.
Workshops may be scheduled upon request to accommodate the needs of local residents at nearby locations.

HUD-certified Director of Homeownership Services Candy Ayers meets with interested clients to discuss all aspects of financial guidance.  Clients are led through the process of creating a speding plan by using the Money Management Calendar to track spending and develop an obtainable budget.

The graphic below from NeighborWorks.org provides an overview of Financial Capability and why it is important in planning for life goals.

What Is Financial Capability?

 

 

 

 

 

 

 

 

 

Click to view the graphic in a new window.