We wanted to spread the word about a great local organization that offers introductory financial literacy classes and counseling to our community. Neighborhood Economic Development Corporation (NEDCO), located in downtown Springfield, offers a monthly class series called Financial Foundations. The classes are offered in both English and Spanish and cover topics including financial goal setting, budgeting, tackling debt, improving credit, and understanding insurance. After attending the class series, participants receive individualized advice from a financial counselor.
For lower-income participants, enrolling in Financial Foundations is also the first step to opening an Individual Development Account (IDA), which is a grant-funded matched savings account that earns a 3:1 match on qualified savings.
For more information, here are a couple of links to NEDCO’s website:
The IDA Program: