Strategies

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

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)

Provide funding for local community development activities such as affordable housing, anti-poverty programs, and infrastructure development

Support financial institutions providing services to underserved and disadvantaged communities

Purchase the land a home is on to lease to homeowners with low and middle incomes and require homeowners to sell the home back to the trust or to another resident with low income upon moving

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.

Provide grants to states and localities to fund activities that build, buy, or rehabilitate affordable housing for rent or homeownership, or provide direct rental assistance to households with low incomes