Strategies

Establish publicly funded investment accounts for every newborn, accessible at age 18

Match disadvantaged or at-risk youth with volunteer mentors in school or community settings

Build assets through child development accounts (CDAs) with contributions from a sponsoring organization, such as government agencies or nonprofits, and family, friends; also called children’s savings accounts (CSAs)

Support financial institutions providing services to underserved and disadvantaged communities

Combine academic, mental and physical health, and social service resources in schools for students and families via partnerships with community organizations; also called community learning centers

Provide education and training sessions with parent-child activities and family meals for youth, parents, and care providers

Offer debt advice from trained providers to tenants with unpaid, overdue rent to help repay debt and increase financial literacy

Convene small groups of families for facilitated weekly meetings that include a family meal, structured activities, parent support time, and parent-child play therapy

Provide education on basic budgeting, bank use, credit management, bankruptcy, credit building and counseling, homeownership, retirement, divorce, etc.

Apologize for discriminatory housing policies; increase subsidies, financing, and paths to homeownership for people of color; and invest in systematically disadvantaged neighborhoods