Strategies to Help Families Build Assets

Posted by on June 2, 2006

[posted from National League of Cities YEF newsletter]

Local officials across the country are finding ways to help low-income working families achieve economic stability by promoting financial education, savings initiatives, homeownership, and protection against predatory lending and other ?wealth-stripping? practices. Since 2005, nine cities have participated in the Youth Education and Familis (YEF) Institute-sponsored Cities Helping Families Build Assets technical assistance project. The project cities have participated in site visits to Phoenix, Baltimore, Indianapolis, and Miami to learn innovative ideas on how to help families save and build assets. New resource materials from each site visit focus on four topics: financial education (Phoenix); homeownership counseling and incentives (Baltimore); asset accumulation and savings initiatives (Indianapolis), and asset protection to help families avoid predatory practices (Miami).

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