Why Do Personal Finances Matter?
The Impact on Parents
Adults who live in poverty experience worse health outcomes, including higher mortality rates and increased risk of mental health conditions (e.g. depression, substance use disorders).
The Impact on Children
Children who grow up in poverty are at higher risk for behavioral issues and conduct disorders. They are also more likely to face mental health problems, such as anxiety and depression, if they grow up in a family that is low income or has significant debt.
The Impact on
Client Outcomes
Research shows that financial literacy programs help individuals reduce debt, increase savings, and enhance overall financial well-being . These improved financial outcomes can lead to better health, housing stability, and family outcomes for clients .
