ALICE® (Asset Limited, Income Constrained, Employed) can hold a college degree and work full-time, only to find that their paycheck just doesn’t cover the basics of housing, transportation, childcare, food, and healthcare. United Way of Western Connecticut invests in programs that help ALICE build their financial capabilities, establish and adhere to a household budget, repair credit, begin saving for emergencies, and attain a financial goal.
United Way's Financial Opportunity Center offers one-on-one financial budget coaching and financial literacy workshops. Together with our matched savings program and support of the Volunteer Income Tax Assistance (VITA) program, all add up to advancing our goal to move ALICE households toward financial stability and independence.
Our support for financial stability programs has helped change the course of lives, by empowering individuals and families to take control of their financial future. One Financial Opportunity Center client, a domestic violence survivor, began her budget coaching with a goal to save enough money to rent an apartment without roommates. After she created a budget, and evaluated her income, expenses, savings and credit, she recognized that she not only had the capacity to save an additional $500 each month, but also that her 750-credit score increased her borrowing power. The client then shifted her goal to saving for a home and enrolled in a free first-time home buyers’ educational course. Our budget coaching allowed this client to position herself to become a homeowner, forever changing the course of her life.