Financial Mentoring with Brookline Bank
Making informed decisions about your finances is often easier said than done. That’s why we partnered with Brookline Bank this summer to set up a Financial Mentoring program for our Leadership Fellows and Ambassadors.
For eight weeks, employees from Brookline Bank paired together with nine parents who’d participated in both our Power of Parenting program and in Families First’s leadership pathway. Together, parents and mentors met to discuss various financial topics in a one on one mentorship experience.
The program focuses on knowledge and skill-building that lead to informed personal financial decisions. Parents and mentors covered financial literacy topics, including:
- Planning for retirement
- Savings accounts
- Investment accounts
- Types of credit cards
- Income-based savings
- Section 8 (Housing Authority) income related questions
A participant noted, “It is so important to move forward with financial literacy. These are issues that don’t get answered in everyday conversation.”
After the program, one parent said, “[My financial mentor] was very helpful, motivational, understanding, and patient.” Additionally, 88% of parents who participated said that they would recommend the individual financial mentoring sessions to another parent.
Thank you, Brookline Bank, for a valuable and informative partnership. Partnerships like these make our Families First community even stronger.