What is the Financial Wellness program?
Our Financial Wellness program is a program that helps individual and families to work towards the security elements of financial well-being. The program helps clients get control over the expenses and spending and develop the ability to absorb a financial shock. This includes a program called 10 Minute Money Management, which is a financial wellness initiative that a client can follow alone, or with the guidance of a financial coach. The program is free.
Adults who identify as Asset Limited, Income Constrained, Employed (ALICE) may apply to work with a financial coach. Typically, we expect our participants to be employed, and with a desire to learn about how to stabilize their current income, plan for the future, and identify the financial goals they wish to achieve.
The first 3 months working with a coach will dedicated towards creating a detailed spending tracker, which will allow the client and volunteer Financial Coach to get an understanding of the client’s financial situation. Then the client can decide to work on financial goals with the financial coach or take the skills they have learned to continue the path towards financial wellness on their own.
How are participants identified?
Participants can self-identify and contact us for assistance. Though many of our clients are from referrals from Hunterdon County agencies aware of our program and the benefits it offers enrollees.
How does it work?
- Once a client contacts us or is referred for assistance, a member of United Way of Hunterdon County will schedule an initial interview to understand the client's needs and potential to participate in the program.
- If the client and UWHC agree this is a worthwhile endeavor, the client will be matched with a financial coach.
- The client and financial coach will work together to develop their financial wellness goals and plans to achieve them.
- The client will take part in our 10-Minute Money Management course with the guidance of their financial coach.
- The client and financial coach will have predetermined check-in times to measure progress, identify learning opportunities, and calibrate the client's path to success.
Financial Wellness Frequently Asked Questions
As with all United Way of Hunterdon County programs, there is no cost to participate. However, we expect that every client agrees to at minimum a 1-year agreement so that they have time to learn critical financial wellness skills.