Financial Learning and Resiliency through Empowerment (FLARE) – WhatcomTalk

Report on the Financial Learning and Resiliency through Empowerment (FLARE) Program

Program Overview

The Financial Learning and Resiliency through Empowerment (FLARE) program is an educational initiative consisting of eight sequential classes. The program is designed to improve participants’ financial literacy and resilience by increasing awareness of the behaviors and beliefs that influence financial management.

Alignment with Sustainable Development Goals (SDGs)

The FLARE program directly contributes to the achievement of several United Nations Sustainable Development Goals (SDGs) by empowering individuals with critical financial knowledge.

• SDG 1 (No Poverty) & SDG 10 (Reduced Inequalities): By providing accessible financial education at no cost, the program equips individuals with the skills needed for effective budgeting, saving, and asset management. This empowerment is a direct mechanism for poverty reduction and helps to lessen economic inequalities within the community.
• SDG 4 (Quality Education): FLARE offers inclusive and equitable quality education, promoting lifelong learning opportunities in the crucial area of financial literacy for all adults.
• SDG 5 (Gender Equality): Financial independence is a cornerstone of gender equality. This program provides essential tools that empower all individuals, particularly women and vulnerable populations, to achieve greater economic autonomy.
• SDG 8 (Decent Work and Economic Growth): A populace with strong financial literacy is fundamental to stable and sustainable economic growth. Understanding concepts like credit and banking fosters entrepreneurship and supports broader economic participation.

Course Curriculum

The curriculum is structured to cover key aspects of personal finance. The topics addressed include:

1. Goal Setting
2. Budgeting
3. Credit
4. Banking
5. Identity Theft
6. Fraud

Logistical Details

• Format: The classes are conducted virtually via Zoom.
• Schedule: Sessions are held on Wednesday evenings from 5:30 PM to 7:30 PM.
• Start Date: The program commences on October 15.
• Attendance: Full participation in all eight classes is strongly recommended to achieve the intended learning outcomes.
• Accessibility: The program is open to all members of the public.
• Registration: Prospective participants must register at the following link to receive an invitation: https://www.oppco.org/flare-registration/

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 1: No Poverty

  The article describes a program aimed at building “Financial Learning and Resiliency through Empowerment.” Financial resiliency is a critical component in preventing and alleviating poverty. By teaching core skills like “goal setting” and “budgeting,” the program equips individuals with the tools to manage their financial resources effectively, build assets, and avoid falling into poverty.

• SDG 4: Quality Education

  The FLARE program is fundamentally an educational initiative. It provides a “FREE series of eight consecutive classes” focused on financial literacy. This directly contributes to lifelong learning by offering adults accessible education on practical life skills that are essential for personal and economic well-being, going beyond traditional academic subjects.

• SDG 8: Decent Work and Economic Growth

  Understanding personal finance, including “credit” and “banking,” is crucial for stable economic participation. Financial literacy empowers individuals to make informed decisions, manage debt, and save for the future, which are foundational for securing decent work and fostering personal economic growth. These skills can also be a stepping stone towards entrepreneurship.

• SDG 10: Reduced Inequalities

  Financial illiteracy can be a significant barrier that perpetuates inequality. By offering a free program where “Everyone’s welcome,” the initiative promotes economic inclusion. It provides access to crucial knowledge for all, regardless of their economic status, empowering them to improve their financial situation and reducing disparities in financial capability.

2. What specific targets under those SDGs can be identified based on the article’s content?

1. SDG 1: No Poverty

   • Target 1.4: By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services… and financial services.
   • Explanation: The program’s focus on “banking” and “credit” directly addresses the need for individuals to understand and access financial services, which is a key component of this target.

2. SDG 4: Quality Education

   • Target 4.4: By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship.
   • Explanation: The financial management skills taught in the FLARE program, such as “budgeting” and understanding “credit,” are relevant life skills that enhance an individual’s capacity for stable employment and personal financial management.

3. SDG 8: Decent Work and Economic Growth

   • Target 8.10: Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all.
   • Explanation: While the program does not directly strengthen institutions, it works on the demand side. By educating people about “banking,” it encourages and prepares them to access and utilize these financial services, thereby supporting the overall goal of expanded access.

4. SDG 10: Reduced Inequalities

   • Target 10.2: By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.
   • Explanation: The program’s title, “Financial Learning and Resiliency through Empowerment (FLARE),” and its open invitation to “Everyone” directly align with the goal of empowering individuals for greater economic inclusion.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

The article, being a promotional announcement, does not contain explicit data. However, it implies several indicators that could be used to measure the program’s impact:

1. Indicator: Program Participation and Completion

   The article mentions a “series of eight consecutive classes” and “STRONGLY ENCOURAGED” attendance. This implies that a key metric for success is the number of individuals who register for and complete the full educational series. This would measure progress towards Target 4.4 by quantifying the number of adults receiving skills training.

2. Indicator: Knowledge Acquisition on Financial Topics

   The program is “designed to increase awareness of behaviors and beliefs surrounding money.” This implies an indicator related to learning outcomes. Progress could be measured by the percentage increase in financial literacy scores among participants, assessed before and after the course on the specific topics mentioned: “goal setting, budgeting, credit, banking, identity theft and fraud.”

3. Indicator: Access to and Use of Financial Services

   By teaching about “banking” and “credit,” the program aims to enable participants to engage with the formal financial system. An implied indicator would be the proportion of participants who open a bank account, apply for credit, or create a formal budget for the first time after completing the course, which would measure progress towards Targets 1.4 and 8.10.

4. Create a table with three columns titled ‘SDGs, Targets and Indicators” to present the findings from analyzing the article.

Source: whatcomtalk.com