Skills for Succe$$: Strengthening Families and Finances 2014 Program Report Skills for Succe$$: Strengthening Families and Finances Funded by: TD Financial Literacy Grant Fund Program Dissemination Report Prepared by: Cindy Hare Program Summary Skills for Succe$$: Strengthening Families and Finances is a multi-faceted program designed to deliver financial, social and emotional supports and resources to low income families living in 'at-risk' neighbourhoods in Hamilton. A total of 91 families were served during the summer and fall of 2014 in the eight week program. A total of 166 people attended educational presentations during 2014. Notable improvements were found on a comparison of pre-test, intermediate and post-test measures of improved financial stability, increased savings, reduced debt, strengthened family communication and increased knowledge of community supports and resources. These results suggest family financial stability increased due to program participation. Parents also reported having more involvement in financial planning, goal setting and financial discussions. Overall, parent satisfaction with the program was high, with parents reporting that they felt the program helped improve financial skills and strengthened family relationships. In the Skills for Succe$$ program, families attend structured experiences over the course of eight weeks. These experiences are co-led by two credit counsellors and a community partner and include five elements: a meal/snack shared as a family unit, family activity time, peer activity time, a time for debriefing and reflection and a homework challenge to complete during the week. Incentives are provided to families to attend sessions including childcare for infants/toddlers under 4years, refreshments, transportation and other weekly prizes. Each family that completed 6 sessions or more graduated with a $100 gift card of their choice with their program completion certificate. Here is what participants said about the program: “I found this experience very rewarding because I learned so much about myself” “I learned how to be in control of my money!” “This group helped me grow and see my world differently” “I learned to be more disciplined!” Program Supporters Co-founded with Prosper Canada in 2010, the TD Financial Literacy Grant Fund has awarded $10.4 million in grants to 140 community organizations across Canada for community financial literacy education. Grants were awarded for innovation, research and development, and strategic program development in the area of community-based financial literacy. Skills for Succe$$ is a collaborative project between Catholic Family Services and 13 community partners. Partners include Mission Services, Good Shepherd Family Centre, Neighbour 2 Neighbour Centre, Wesley Ontario Early Years Centre, Hamilton Health Sciences, Hamilton Wentworth Catholic District School Board, Beasley Community Centre, Eva Rothwell Resource Centre, City of Hamilton Best Starts Network, North Hamilton Community Health Centre, Good Shepherd Centre, Mental Health Rights Coalition of Hamilton and City of Hamilton Health Unit. Method Families enter the Skills for Succe$$ program either by self-referral or by a community social service worker. Partnering organizations and front-line social service workers in the downtown core were trained about the program content, objectives and methods. They were also provided with tools to help them determine eligible referrals. A trained interviewer met with each family at the program site prior to the commencement of the group to explain the program content, obtain confidentiality consent and conduct pregroup evaluations. Interpreters were present when needed. Two families required interpretation. Childcare arrangements for infants/toddlers were also assessed at this time. Each family completed one pre, intermediate and post evaluation. Intermediate evaluations were completed during session four and post evaluations were completed during session eight. Children and youth completed a pre-evaluation during session 2 and a post-evaluation during session eight. Evaluations were conducted orally and facilitators recorded the data when literacy support was required. Group facilitators completed a post-evaluation after each eight week group. Results Demographics A total of ninety-one families participated in our Skills for Succe$$ eight week program from June to December 2014, and of those participants, ninety-seven were adults, ten were youth and fifty-eight were children. At the beginning of the program eighteen of those families were living in a homeless shelter. At the end of the program, two of those families were living in a homeless shelter. 40% of the adult participants were employed part-time or full-time. 2% own their homes. Evaluation Findings Evaluation questions ranged from yes/no, multiple choice, scale questions ranging from 1-5 or open-ended. Prior to attending the program, 65% of participants stated that they talk about financial matters with their partner and/or family. By the last session, 92% of participants stated that they talk about financial matters with their partner and/or family. There was a 27% increase in participants that talk about their financial matters with their partner and/or family. Prior to attending the program, 29% of participants stated that they have savings. By the last session, 72% of participants stated that they have increased their savings. There was a 43% increase in participants that have increased their savings. By the last session, 55% of participants stated that they have reduced their debt load. Prior to attending the program, 38% of participants stated that they have control over their money. By the last session, 77% of participants stated that they have control over their finances. There was a 39% increase in participants that have control over their finances. Prior to attending the program, 40% of participants stated that they had a financial goal. By the last session, 53% of participants had a financial goal and were working towards their financial goal. There was a 13% increase in participants that have a financial goal. Prior to attending the program, 25% of participants had high to very high hope towards attaining their financial goal. By the last session, 83% of participants had high to very high hope towards attaining their financial goal. There was a 58% increase in participants that had high to very high hope towards attaining their financial goal. Prior to attending the program, 46% of participants knew where to go to get financial information or services. By the last session, 98% of participants knew where to go. There was an increase of 52% of participants that gained knowledge of financial information and services that are available to them.