FINANCIAL LITERACY PROGRAM
Q. : Is the Financial Literacy a new program of the IFWF?
A.: Yes. The IFWF is developing a new program. We aimed it to serve the vulnerable populations of immigrants and refugees. In the United States, it is exceedingly difficult for immigrants to gain knowledge about personal finance, especially considering barriers such as insufficient grasp of the English language or the inability to access online resources. The IFWF seeks to bridge this information gap by creating a Financial Literacy course specifically geared towards immigrants and refugees.
Q.: What are the benefits of the FL program?
A.: The course will help newcomers learn the U.S. economic system and will give the tools necessary to budget, save money, and develop good credit. This experience is reflected in many of the families that the International Foundation for World Freedom encounters. With the disadvantages immigrants face during the difficult transition to living in the United States, we believe that a Financial Literacy program would allow new Americans to become more comfortable engaging with a new economic system. The Financial Literacy program would educate participants on the basics of financial transactions in the United States and, in time, would enable participants to independently manage their personal finances and maintain financial stability.
Q.: What if I do not know English?
A.: The course resources will be provided in basic English and will be translated to the official languages of the United Nations to ensure comprehension.
Q.: How can I access the lessons?
A.: The course will be accessible online.
Q.: Is the FL program lessons free of charge for everyone?
A. Yes. The FL program is free of charge. The course materials are free.
Q.: What topics does the course cover?
A.: The course will cover many important topics, including budgeting, opening a bank account, electronic transactions, understanding credit and maintaining good credit, filing taxes, and savings. Each lesson will have practical goals that students will meet as they progress through the course. For instance, an outcome of the budgeting lesson is that students will be able to prepare their own budget for their monthly income and expenses. At the conclusion of the course, students will have an enhanced understanding of their own financial situation in the context of living in the United States, and students will be equipped to responsibly handle their personal finances.