Teaching Families How to Fish

At United Way of Central Florida, we believe that financial stability can be achieved by hard-working families when they have the tools and knowledge to understand how to take control of their finances. We have all heard the age old adage: give a man a fish and you feed him once. Teach a man to fish and you feed him for a lifetime. This has not changed, but many had stopped teaching.

As part of our Income target area, we partner with programs that teach budgeting and saving tactics, increase workforce credentials to increase wages, and increase credit scores through counseling and education. In 2012, over 600 families (or 2400 people) attended family financial planning sessions during the year. Of those 600, 224 hard-working families achieved the start of their financial security and accumulated $300 emergency funds. Those 224 families demonstrate a 37% success rate among participants.

While the 2012 success rate was fantastic, the volunteer teams who monitor United Way investments said they want greater results. To do that, our volunteers asked for more productivity from United Way grant awards that, in the past, were spent primarily on rent and utility payments. This year, when they awarded grants of over $700,000, they set stronger goals, insisting in growth in savings achievement and personal financial responsibility.

When you think of financial stability, you may not think of a local shelter or community service center, but in order to help more people and make even more lasting changes, that is where we need to look. Many of the families that receive services from our partners do not know basic household financial practices. These are skills that can help people manage their money and plan for improving their future. Real change is not about servicing people in need today, it is about educating people to not need our services in the future.

So, what is new in the Income area at United Way of Central Florida? You could say that we are teaching fishing.

Call 2-1-1 for more information, if you want to build a life where the paycheck lasts longer than the month!