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Financial capability is defined as “the capacity, based on knowledge, skills, and access, to manage financial resources effectively.”1 Financial capability is a critical step towards financial security, and many people (regardless of socioeconomic background) may lack one or more factors of the financial capability equation. Some may lack the knowledge (e.g., understanding the terms of their credit card account) or the skills (e.g., calculating the total costs of using credit) needed to manage their financial lives effectively. Others may not have the access to resources necessary for managing their finances well (e.g., high quality but affordable financial services). Challenges in any of these areas will negatively affect financial capability.
Youth employment programs present a promising opportunity for helping disadvantaged youth acquire the financial knowledge, skills, and access to resources they need to effectively manage their finances through adulthood. In recognition of this, the Consumer Financial Protection Bureau (CFPB) and the Administration for Children and Families (ACF) partnered to produce Building Financial Capability in Youth Employment Programs. This report provides an overview of the valuable lessons drawn from a 2013 roundtable of national and local leaders from promising programs that CFPB convened in collaboration with other federal agencies on the Financial Literacy and Education Commission (FLEC).
Information on safe, reliable, and continuous home heating and cooling are a necessity of life. The inability to heat or cool one's home adequately can put household members at risk for health and safety problems. Households with a frail elderly, disabled person, or a young child are more prone to the effects of indoor health and safety problems.