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Families for
Finance Program

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Promoting financial stability

Offering families one-on-one financial counseling, financial literacy classes, and savings account matches to promote economic stability.

Support our program
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Financial literacy as a catalyst for housing resilience

Financial literacy serves as a beacon of empowerment, guiding families toward financial stability. Families experiencing homelessness face heightened economic vulnerability, making financial literacy an essential catalyst for transformation and breaking cycles of poverty and homelessness.

People Serving People offers all guests staying at our Downtown Minneapolis shelter and St. Anne’s Place the opportunity to participate in our Families for Finance Program, which helps guests:

  • Understand the relationship between trauma and finances
  • Make financial decisions on behalf of their family
  • Gain the tools to navigate their finances after leaving shelter
  • Create healthier relationships with their finances

Making a difference

In 2024, 313 families staying in our Downtown Shelter attended Money on My Mind classes, improving their financial literacy skills. Families also opened savings accounts to save for emergencies as well as the items they need once they secure safe and stable housing.

  • 91 Savings accounts opened

    Number of savings accounts opened by families in 2024.

  • 76 Savings accounts matched

    Number of savings accounts that received matching dollars up to $1,500 in 2024.

  • $48,594 Matching dollars

    Distributed to families participating in savings account matches in 2024.

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“No one ever taught me about budgeting. I just thought that if I paid my bills on time, I would be OK. Now, I have a budget and toolkit that I can use now and when we leave the shelter.”

Ashley – mother, guest, Money on My Mind participant, 2025

Families for Finance Program activities


One-on-one support

Families can meet with our Families for Finance Advocate to determine the plan that best meets their needs. Families often meet one-on-one with their advocate to discuss various matters, such as accessing their credit report, choosing a bank, building credit, and creating a budget.

Money on My Mind classes

Families can also choose to attend groups focused on financial literacy and recovery from financial trauma. Class topics include:

  • Maximize Your Money (Saving/Budgeting)
  • Credit & Debt
  • Banks & Credit Unions
  • Financial Empowerment

 

Savings accounts and matching

Our program also offers families support in setting up a savings account at a bank of their choice. They receive $100 for accomplishing this goal (or if they already have a savings account) and want to participate in our matching program.

Families then have the opportunity to have their savings matched during their stay at People Serving People, up to a total of $1,500. This savings match allows families to leave the shelter with a safety net of up to $3,000, which our guests find to be a difference maker, allowing them to save things such as:

  • Vehicles to transport themselves to work and their children to school, since public transportation doesn’t often provide the means to meet all of their transportation needs
  • Items to furnish their home once they leave the shelter, as many families lose their furniture and belongings when they become homeless
  • Starting a savings account for their children to help encourage healthy financial habits from a young age and fund their future education.

For our guests

Interested in participating in the Families for Finance Program? Guests of our Downtown Shelter are welcome to participate. Classes meet most Tuesdays and Thursdays at varying times. Monthly and weekly class schedules are posted throughout the shelter. Reach out to our Families for Finance Advocate, Che Lia, in office 225 if you’d like to get involved!