Financial Education

Since 2006, PACE’s Financial Education & Asset Building Program has helped 7,518 low-income individuals & families move toward greater self sufficiency by accumulating savings & purchasing long-term assets. Through PACE’s Volunteer Income Tax Assistance (VITA) Program low-income households can have their income tax returns prepared, free of charge, & apply for Earned Income Tax Credits (EITC). In order to help individuals address their families’ financial challenges, PACE offers one-on-one counseling, workshops, & classes that provide tools to achieve financial security. Additionally, PACE’s IDA program in partnership with the United Way has been tremendously successful in helping clients realize savings in order to acquire their assets: capitalize on their small business, or afford post-secondary education/training.

In Los Angeles County the target communities that particularly benefit from PACE’s Financial Literacy & Asset Building Program are low-income, ethnic minority populations. A significant number are immigrants, refugees, or asylees who have significant barriers to employment, such as: limited language proficiency, lack of transportation, cultural considerations, lack of job skills, and limited work history in the United States. By gaining an understanding of finance & the steps they can take to improve their financial situation, they can dramatically improve the stability of their family, their living conditions, & the prospects of their financial security.