Our goal is to provide financial inclusion to the most under served communities by focusing on financial wellness and utilizing financial technology. The program’s objective is for our tenants to keep a budget, eliminate debt and build their savings. Baltimore Impact Properties, LLC will provide Dave Ramsey's Financial Peace University course kit, which provides financial wellness educational material and a budgeting tool. The program would also include Acorns, which is an Application that that rounds up each transaction made with a credit or debit card that is automatically invested in a customized model portfolio of index funds. The tenant will receive an incentive if they participate in the program and report their results to us on a monthly basis. They will receive the following incentives on a monthly basis: $50 to their STASH investment account.
Dave Ramsey offers a step-by-step approach to handling money. More than 2 million families have participated in Dave's plan to take control of their money and achieve financial security.
•Average debt paid in first 90 days = $5,300.
•Average amount saved in first 90 days = $2,700.
All of our tenants will have access to scheduled annual meetings with a financial wellness coach. Brian Gamble, Director of Financial Wellness and Education, will be available to meet to ensure that our tenants are making the correct financial decisions, creating a solid foundation to build on and track their progress to financial security.
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