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Financial Stability Coalition

GOAL:  Community members learn skills to become financially independent.

SUCCESS STORY

WENDY IS A SINGLE MOM and started attending a local college.  She had to reduce her hours from full- to part-time in order to complete her diploma.  She anticipated the loss of income and tried to save money ahead of time, but even the best-laid plans don’t always go perfectly.  Luckily, she was able to take advantage of a local childcare scholarship program so her son could continue to stay at his quality childcare program.  Wendy could spend her money on food and clothes instead of childcare; and her son was able to stay with his caregivers during a difficult period in their lives where she couldn’t spend as much time with him as she’d like.  Programs like this helped Wendy make a better life for her family!

LOCAL RESULTS

  • 528 copies of “The Berenstain Bears Trouble With Money” were distributed to families in 2018 by the Financial Stability Coalition.
  • 945 enTouch applications were distributed in 2018.  This is a free cell phone service for low income individuals.
  • 68 tax filers in south Wood and Adams Counties used MyFreeTaxes to file for free, in 2018 receiving an average refund of $1,647.

Source:  Financial Stability Coalition, United Way of South Wood & Adams Counties, Financial Stability Coalition

SUPPORTING INFORMATION

  • 34% of Wood County households are ALICE, or not earning enough to cover the basic cost of living.  In Adams County, that number is 54%.
  • During a 2018 Financial Stability Community Survey, 72% of the respondents said they had never learned to manage money.
  • During the same survey, 28% said they would be interested in learning how to get out of debt.

Source:  United Way of Wisconsin ALICE Report 2018, Financial Stability Coalition, Financial Stability Coalition 

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