Research indicates that children in families with limited economic resources are at higher risk for maltreatment. Child welfare agencies and organizations are encouraged to respond to immediate economic-related safety risks and to address possible solutions for long-term family financial stability. This section provides resources and information to help parents understand and manage their family's finances, including State and local examples.
Can I Raise My Credit Score Fast?
Devaney (2021)
Credit Karma
Describes five factors that affect credit scores, including payment history and credit usage. This resource also details eight ways to improve a credit score, including negotiating a lower interest rate and asking for a credit limit increase.
Economic Empowerment for Families
Batko, Gillespie, & Gold (2019)
Urban Institute
Highlights lessons learned from a homeless service provider in San Franscisco helping improve families’ circumstances, including setting short-term goals and emphasizing financial literacy.
A Financial Empowerment Toolkit for Youth and Young Adults in Foster Care
National Resource Center for Youth Services (2014)
View Abstract and Download Provides information and tools for financial education aimed at youth in and transitioning out of foster care.
How to Create and Manage a Budget
Fay (2020)
Debt.org
Reviews best practices for budgeting and gives advice on how to manage a budget and prevent overspending.
Savings Plan (PDF - 77 KB)
Consumer Financial Protection Bureau
Presents a fillable template to support individuals and families in setting and meeting financial goals.
Systems to Family Stability National Policy Academy
U.S. Department of Health and Human Services, Administration for Children and Families, Office of Family Assistance
Presents information about an 18-month initiative during which eight teams designed and built collaborative systems within and across government agencies to improve family economic security.
Tips to Teach Your Kids About Smart Money Management
MyMoneyCoach
Outlines tips for parents to help their kids learn to be smart about managing money. The advice includes real-world examples on how to prepare children for self-sufficiency.
Tricks to Improve Your Credit Score
Gonzalez & Schneider (2020)
National Public Radio
Describes factors that influence credit scores and answers commonly asked questions about how to improve credit scores.
Ultimate Resources for Teaching Kids About Money
Mint.com
Provides a list of websites and other resources for parents to use to help their children learn about finances, including budgeting, earning, and saving.
Your Money, Your Goals
Consumer Financial Protection Bureau
Presents several resources for professional audiences seeking to engage caregivers and youth in conversations about financial planning.
Youth Financial Education
Consumer Financial Protection Bureau
Provides tools and resources to help youth and their parents develop financial knowledge, skills, and habits to promote adult financial well-being.
State and local examples
Financial Empowerment Center: One-on-One Financial Counseling at No Cost
Family Service
Describes how financial advisors work with families in San Antonio to help them reduce debt, improve credit ratings, and prepare for large purchases.
Money Management
California Career Center
Provides links to resources about money management and on topics such as making good choices, creating a budget, financial aid, avoiding scams, and related subjects.
Preparing Youth for Success in West Virginia
Wubbenhorst (2018)
U.S. Department of Health and Human Services, Administration for Children and Families
Describes a program in West Virginia, Teaching Health Instead of Nagging Kids (T.H.I.N.K.), that provides evidence-based instruction to high-risk youth and young adults on how to avoid poverty and achieve success in the future.