Financial Literacy

Financial Security for Families

Nazareth Housing delivers essential economic and financial empowerment services designed to help households understand, manage, and build their economic resources and financial capability.

Nazareth Housing’s MoneyLab program creates stable futures for families by building their economic resources and financial stability. With programs such as free VITA tax preparation, EITC screenings, one-on-one budget preparation, financial capability workshops, savings linkage resources, debt reduction advocacy, and credit repair services, MoneyLab ensures that the short-term financial emergencies that brought a family to Nazareth Housing do not happen again.

Financial coaches at Nazareth Housing create long-term plans and work with clients each step of the way as they steadily create a solid financial foundation upon which to create a bright and rewarding future.

“I needed to fix what was holding me back: my student loans and my child support. Nazareth Housing helped me out with that. I’m out of default now and it’s a big weight off my shoulders. My future is a bright light and anything is possible.”

Enrique

Nazareth Housing Client

A Multidimensional Approach

88% of the families that Nazareth Housing assists make less than 30% of the Area Median Income, or about $28,170 for a family of three. With soaring costs of housing and other necessities, effective family budgeting is critical to help families understand, manage, and build their economic resources and financial capability.

Nazareth Housing helps families prepare for the future with personalized consultations on how to open a bank account, effectively use savings accounts, plan for their children’s college, and more.

Excessive debt burdens a family and prevents long-term financial stability. Nazareth Housing financial coaches work with families to create payment plans that fit their budget and, when possible, reduce debt.

A poor credit rating can be a major barrier to housing and overall family well-being. A family with poor credit may have to pay higher fees or higher interest rates, and therefore higher monthly payments. By taking proven steps to effectively manage student loans payments, child support, and credit card debt, Nazareth Housing helps families build their credit and save money in the long-term.

From January to April of each year, Nazareth Housing provides free tax preparation services to the Lower East Side community. Each year volunteers prepare thousands of tax returns, ensuring that tax documents are complete, accurate, and that all clients are connected with any helpful programs they may qualify for.

A Solid Foundation
Upon Which to Build Success

MoneyLab helps resolve financial issues that stand in the way of housing stability and overall well-being. Addressing these common financial obstacles translates to improvement in all other areas of life, especially when complemented by other Nazareth Housing programs.

Free VITA Tax Preparation

MoneyLab helps clients resolve financial issues that stand in the way of housing stability and overall well-being. Addressing these common financial obstacles translates to improvement in all other areas of life, especially when complemented by other Nazareth Housing programs.

Each year staff and volunteers prepare thousands of tax returns free of charge

All clients are screened for access to other services — from entitlement programs to one-on-one financial coaching to housing assistance

All clients are seen by scheduled appointments to maximize efficiency and maintain dignity

Volunteers receive thorough training on understanding the sometimes complex demographics and configurations of low-income households

Many clients ultimately receive refunds equal to 20% or more of annual household income

Financial Security for Families

A Multidimensional Approach

A Solid Foundation Upon Which to Build Success

Free VITA Tax Preparation

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A Solid Foundation
Upon Which to Build Success