The Center on Business and Poverty has a separate non-profit called the Personal Finance Employee Education Fund (PFEEF), which focuses on assisting people as they take ownership of their financial well-being. Click above for more on PFEEF.
As part of accomplishing this mission, PFEEF recently won a $970,000 grant to help deliver proven financial literacy services and training program to individuals in their place of work. Financial literacy training includes education on a variety of topics: money management during stressful times, debt management, finding and keeping affordable housing, education, and career planning.
The grant will allow PFEEF to teach financial wellness principles through its subcontractor, the University of Wisconsin Extension. The training will take place online and be coordinated through financial literacy programs at enlisted organizations. They will have access to innumerable online financial empowerment courses, as well as a Financial Wellness Score to evaluate progress during the courses, and providing detailed reporting to measure the impact of the program.
The campaign will be able to build out community partners, financial wellness champions, and execute projects that will positively impact over 5,000 workers in Wisconsin, particularly individuals who have been disproportionately impacted by COVID. The PFEEF approach has proven to help increase savings by up to 40% among its participants, as well as improve financial confidence and aptitude.
We hope you will help by connecting us to employers in Wisconsin who want to help their workers improve their financial wellness, knowledge and skills. Please contact John Hoffmire at hoffmire@wisc.edu or 608-354-4251.
