• 765-598-5147
  • inquire@freshstarthousing.com
  • 212 N. 7th Street, Richmond, IN 47374

Financial Literacy

What is Financial Literacy?
Financial literacy is understanding and effectively using various financial skills, including personal financial management, budgeting, and investing.

Each Fresh Start Housing student can save between $5,000 to 13,000 thousand dollars to solidify and stabilize their Fresh Start during their fifteen-month residency.

Month 1-5

Track Your Spending

  • Self-analysis of Spending Habits
  • Decision-Making Awareness
  • Understanding Wants Versus Needs
  • Curb Impulse Shopping
  • Short-Long Term Goals
  • Clarifying Financial Goals
  • Paying It Back
  • Competency: Earn, Save, and Spend

Month 5-10

Projective Budgeting and Planning

  • Follow the 50/30/20 rule.
  • Identify fixed and variable expenses.
  • Set savings and debt payoff goals.
  • Track your budgeting progress, review, and revise.

Month 10-15

Goal Attainment

  • Buying a house
    • Land Contract
    • Mortgage
    • Tax Sale
  • Rental
  • Selecting a Budgeting Tool That Suits Your Lifestyle