Financial security

Overview

Financial security strategies focus on increasing residents' economic strength, short-and long-term incomes and savings, and financial knowledge and skills. These strategies can improve family health and well-being, housing stability, and educational attainment, all of which promote better mobility outcomes at all life stages.

Evidence-based strategies

Providing coaching, coursework, tools, and more for participants to improve their short- and long-term financial wellbeing
Stable and healthy families
Strong
Reducing or eliminating financial penalties, waiving debt, and expunging records for minor offenses
Stable and healthy families
Promising
Providing unconditional cash transfers to residents at regular intervals
Stable and healthy families Supportive neighborhoods
Promising
Increasing housing stability for tenants at risk of displacement and homelessness
Stable and healthy families Supportive neighborhoods
Strong
Requiring all employers within a jurisdiction to pay wages adjusted to local living costs
Stable and healthy families Stable high-quality employment
Strong
Helping residents balance work, health, and caring for family
Stable high-quality employment Stable and healthy families
Strong
Improving resident experience in learning about, applying to, and receiving aid
Stable and healthy families Racial equity in government
Promising
Supporting wealth creation for low-income households through a range of savings models
Stable and healthy families Supportive neighborhoods
Proven