WASHINGTON, D.C – Rainbow’s Money Management Skills Workshops Aided by CAAB
Rainbow Housing Assistance Corporation’s (Rainbow) ability to improve the quality of life for residents of affordable housing across the country is largely dependent upon helping those individuals and families get on a realistic path to self-sufficiency. Financial literacy plays a vital role in the success of stabilizing residents, ensuring that they are able to maintain their home. That is why Rainbow is proud to enhance their current programming with the announcement of a formalized partnership and licensing agreement with DC-based Capital Area Asset Builders (CAAB). Starting this month, CAAB will train all of Rainbow’s Resident Services Coordinators (RSC) across the country to become teachers of their Money Management 101 workshop.
CAAB’s Money Management 101 course is a 5-part series that covers the basics of money management, budgeting and saving, credit and compound interest, and credit reports. These highly successful and proven sets of classes are taught regularly in the DC area, however, this is the first time that the workshop will be made available to residents nationwide. Financial literacy is a lifelong skill and the series touches on each aspect. The course breakdown is as follows:
- Class #1: Understanding Your Financial Relationship
- Class #2: The Art of Budgeting
- Class #3: Take Charge of Your Credit
- Class #4: Know Your Financial Rights
- Class #5: Pay Yourself First – The Importance of Saving
By the end of September, Rainbow’s RSCs will be fully certified and materials co-branded by both organizations will be available for each of Rainbow’s 77 served communities. For many residents, a family budget can be thrown into chaos by anything from a medical emergency to unscheduled automotive maintenance. Working with a Rainbow RSC, residents can address these events in a manner that does not jeopardize their housing or employment.
About Capital Asset Area Builders
The mission of the Capital Area Asset Builders (CAAB) is to empower low- and moderate-income residents of the Greater DC area to take control of their finances, increase their savings, and build wealth for the future.
Rainbow’s mission is to create and preserve quality, affordable housing for families and individuals of diverse ethnic, social, and economic backgrounds; while supporting their well-being through the delivery of onsite social services programs.