Financial Stability Partnership

Helping individuals meet their financial needs through free tax preparation clinics, financial education classes, foreclosure prevention referrals and a free prescription drug discount card.

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Layoff Survival Guide provided by Consumer Credit Counseling Service

Today, community issues stemming from personal, economic and environmental factors are growing increasingly complex and more difficult. More and more, hard-working individuals and families are unable to get ahead financially.

Wages have not kept pace with the rising cost of housing, healthcare, and education in many areas, and skill levels have not stayed in alignment with changing industry needs. As a result, more than 12 percent of the U.S. population has an income below the federal poverty level, in spite of the fact that many are employed, some with two or three jobs.

Many individuals and families are walking a financial tightrope -- they are barely getting by with no ability to save for college, a home, or for retirement. Credit card debt in America has tripled, from $238 billion in 1989 to over $850 billion today, with one out of three households using credit cards to cover basic living expenses, including rent, mortgage payments, groceries, utilities, and insurance. "Generation Xers" (individuals born between 1961 and 1981) are on track to be the first generation in American history with a lower standard of living than their parents'.

The United Way movement seeks to strengthen communities by identifying and tackling the underlying causes of the most serious social issues facing our nation. Increasingly, the economic and financial pressures facing hard-working people are exacerbating the other social issues. So United Way has expanded its work to include strengthening the financial stability of individuals and families.

* Hard-working families by helping them to:

  1. Increase Income

  2. Build Savings

  3. Gain and Sustain Assets

* Employers by creating a�stronger, more crisis-resistant workforce.

* Communities by increasing home and business ownership, and the financial stability of its residents.

How is the Financial Stability Partnership doing this?

1. EITC /Free Tax Assistance Sites: Free Tax Preparation workshops will be available in February, March and April. These workshops are to promote the Earned Income Tax Credit (EITC). Many families do not take advantage of or are unaware of the EITC, which could increase their tax refund by up to $4,000.

2. Save Our Homes Taskforce: The Muskingum County Save Our Homes Taskforce has developed a brochure with tips on how to avoid foreclosure, what to do in foreclosure, local resources and state resources.

3. Credit Repair / Debt Reduction: Consumer Credit Counseling Service is a non-profit agency that offers debt management programs, comprehensive money management counseling and education through in-person, phone, and Internet sessions. For more information, call (740) 1-800-355-2227.

4. Financial Literacy Classes: FLARE (Financial Literacy And Resource Education) is developing two series' of classes that will teach students financial education. Topics will cover basic budgeting, borrowing money, credit scores, bank accounts, investments, retirement, estate planning and buying a home. The first classes began in January 2009.