Our Financial Literacy Program
Each resident of the Nehemiah Project will be eligible to participate in our Financial Literacy Program. The program consists of completing five sessions of curriculum (provided by Nehemiah Staff either individually or in groups) and show proficiency in understanding the material by completing a final evaluation. The five sessions include the following:
- Income and Expenses
- Budgeting and becoming a renter
- The World of Credit, Understanding Interest
- Banking and Obtaining Loans
- Setting Long-term goals, saving
By preparing young men for the financial realities of being independent, we feel they become better equipped to fully integrate into the community as they become adults. Using the program as an incentive, we also expect to see an increase in compliance during their stay in an out-of-home placement. Youth will be able to earn funds additional to their weekly allowances by complying with rules, school attendance, and their specific program directives as proscribed by their treatment team. Program Guidelines:
Each child receives a weekly allowance at one of three levels and dependent on their compliance with their specific program. This amount is $5.00, $10.00, $15.00 or $20.00. This amount is decided by the Nehemiah staff and is determined by a resident’s adherence to rules and program guidelines. This allowance stands separate from the Financial Literacy program and is mandated by State of Wisconsin licensing. This is paid to the resident every Friday and the “new week” begins at the close of business each Friday afternoon.
The Financial Literacy program allows a resident to accrue additional weekly funds by complying IN ENTIRETY to his program for the week. This includes, but is not limited to, school attendance, returning on time from passes, not having any police contacts or new charges, no fighting, no drug use, complying with group home programming, complying with court directives, doing chores, non-compliance with group home cell phone policies and group home rules, and complying with all rules as outlined in his probationary/parole guidelines. The week, for calculating purposes, closes at the end of business each Friday.
If a resident complies with all the above, he will be eligible to receive an additional $25.00 each Friday which will be given to him along with his allowance. ADDITIONALLY, he will receive a $25.00 “matching” amount from the Nehemiah Project. This matching fund will be held by the agency and accrued weekly for the resident until he leaves. Upon a POSITIVE discharge from the program, the resident will receive the accrued amount of “matching funds” in the form of a check made out to him. The matching fund will be forfeited by the resident if he leaves the program as AWOL, leaves the program due to new charges, or otherwise does not complete the program in a positive way.