FINANCIAL PLANNING GUIDANCE
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Financial Planning Guidance aims to empower families to take charge of their current and future finances by educating them about financial resources, management, budgeting, and goal-setting. Many families that are new to the U.S. do not fully understand the significance of financial planning.
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Our financial planning guidance takes the form of financial planning workshops, which take a two-pronged approach:
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Help families identify and apply for government financial resources such as Medicaid, CHIPRA, HIPP, WIC, etc.
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Help families create home budgets that allow them to prioritize living and education expenses.
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Why do refugees and immigrants need financial planning help?
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Refugees may come from backgrounds where they have never been directly responsible for their financial decisions. Some refugees may have had large joint-family homes where many adults and even children contributed to the household’s finances. Furthermore, they may not have ever had to work and be financially responsible for a household.
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Many refugees do not have prior knowledge of housing or medical expenses depending on their cultural background and life experiences.
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Most refugees are completely new to the U.S. financial system including banking, bill payment methods, financial obligations and their management.
