Accessing Financial Literacy in Rhode Island's Low-Income Communities

GrantID: 78226

Grant Funding Amount Low: Open

Deadline: Ongoing

Grant Amount High: Open

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Summary

Those working in Community Development & Services and located in Rhode Island may meet the eligibility criteria for this grant. To browse other funding opportunities suited to your focus areas, visit The Grant Portal and try the Search Grant tool.

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Grant Overview

Rhode Island's low-income families face significant barriers to financial stability, with 12.4% of the state's population living below the poverty line. Limited access to financial education and resources exacerbates the issue, making it difficult for families to achieve financial stability. A 2019 survey found that 60% of Rhode Island's low-income families reported lacking basic financial literacy skills.

Barriers to Financial Stability in Rhode Island The state's low-income families face a range of barriers to financial stability, including limited access to financial education and resources. In Providence, where 24.8% of the population lives below the poverty line, the need for financial literacy programs is particularly pressing. By establishing a financial literacy program, this initiative aims to address Rhode Island's unique barriers to financial stability.

Who Faces These Barriers in Rhode Island? Low-income families in Rhode Island, particularly those in Providence, face significant barriers to financial stability. These families often lack access to financial education and resources, making it difficult for them to achieve financial stability. By targeting low-income families, this initiative aims to promote financial inclusion and social mobility.

How Funding Will Address Barriers in Rhode Island Grant funds will support a financial literacy program targeting low-income families in Providence. Through workshops and one-on-one financial coaching, participants will learn essential budgeting and saving skills, helping them achieve financial stability and improve their economic well-being. Unlike neighboring Massachusetts, Rhode Island requires a focus on community-based financial literacy programs.

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