Since its founding, Louisiana AFN (LA AFN) has prioritized increasing emergency savings for Louisianans – especially people earning low and middle incomes, communities of color, and ALICE households (Asset Limited Income Constrained Employed). Repeat natural disasters and the pandemic have only underscored the need for savings cushions that allow individuals to build financial stability and navigate challenges.
LA AFN members see financial coaching as a growing field that shows promise to help people build financial capability and assets by learning to set financial goals, adhering to their goals with oversight, and monitoring and gaining confidence to problem solve.
LA AFN’s explicit goal is to increase the number of organizations across the state embracing and gaining the capacity to use financial coaching as a strategy to grow an individual’s savings. To take action and build the financial stability of Louisianans, LA AFN members have collectively committed to investing resources to build the financial coaching field across the state by inviting organizations to submit a letter of interest for support in either of the following categories:
– A planning grant to support organizations and/or partner collaboratives interested in assessing readiness and exploring how to integrate financial coaching strategies into existing work. The financial coaching focus may be topically focused and/or population focused (e.g., housing, workforce, small business, youth, women, veterans, people of color, LMI/ALICE, etc.).
– An implementation grant to support organizations and/or partner collaboratives wishing to execute or expand financial coaching strategies to help boost savings and financial stability of ALICE populations.
THE SUBMISSION PERIOD IS NOW CLOSED.
Helpful Resources
AFN’s 2019 Financial Coaching Census
AFN’s Financial Coaching as an Asset Building Strategy
