$50K Kaiser Permanente Grant to Improve Financial Literacy
According to the Bureau of Labor Statistics, the Consumer Price Index rose 9.1% from a year ago. Financial stress can trigger feelings of shame, anger, and depression, affecting a person’s overall mental and physical health. To help Hawai‘i families, Kaiser Permanente has awarded a $50,000 grant to Goodwill Hawai‘i aimed at improving financial literacy and the corresponding health inequities of low-income individuals.
The grant is part of a $2.5 million grant package that Kaiser Permanente awarded to Change Machine, an organization that helps build financial security for people in low-income communities. Through the grant, Change Machine will provide its financial coaching platform and training to 190 social service organizations across eight states and the District of Columbia, including Goodwill Hawai‘i, and aims to reach 100,000 people annually.
Goodwill Hawai‘i will use the Change Machine platform to help people and families manage financial matters such as loans and debt, taxes, budgeting, saving, and credit building. The program also helps build capacity to ensure the stability of financial coaching programs at Goodwill Hawai‘i. In addition, Goodwill Hawai‘i will receive access to tools that support collaboration between financial practitioners and community leaders.
“Debt, bad credit, and financial insecurity can affect your physical and mental health,” said Greg Christian, Hawai‘i Market President, Kaiser Foundation Health Plan and Hospitals. “This grant will provide Hawai‘i residents access to tools and services to improve financial literacy and help reduce economic and health disparities in our community.”