By Devon Jones
The Phe’Be Foundation (TPF) is a non-profit financial literacy organization that has been in operation since 2002. Since its launching, the Phe’be Foundation has served 50,000 households in Cuyahoga County. In addition, the Phe’be Foundation has helped close to over $550 million in mortgages through financial education and partnership with lenders. Founded and directed by Sharron Murphy-Williams, Phe’be works directly in the communities of Cleveland and surrounding suburbs serving youth and adults ages 9 to 99 with the goal of delivering relevant financial education.
In response to the needs of our community, TPF has launched multiple programs designed to meet people where they are. One program is Wired2Work. Since its inception 2 years ago, this program has connected over 150 households to the internet and financial counseling designed around individual and/or family needs. Another would be the newly launched Boyz 2 Men With Money program that seeks to focus on young men by offering tailored educational and recreational experiences designed to inform, inspire, and support them on their journey to building generational wealth. TPF programs acknowledge the challenges that residents of Cleveland experience, especially those of color when attempting to access employment, housing, and wealth-building opportunities. TPF is an organization of color with diverse membership open to serving those in need.
One of the frequent questions posed to the Phe’be Foundation is “what is financial literacy?” Simply put, financial literacy is the ability to read, analyze, manage and write about the personal financial conditions that affect material well-being. It includes the ability to recognize financial options, discuss money and financial issues without (or in spite of) discomfort, and plan for the future. It also means responding competently to life events that affect everyday financial decisions, including events in the general economy. Due to the instability of the economy, many people assume that financial certainty is impossible to achieve. According to the foundation, however, that is simply not true! During these times of instability, one must focus on how to secure financial confidence. Of course, this takes work and sacrifices, but The Phe’be Foundation, in collaboration with The Cleveland Observer (TCO), is here to help. With its wide array of financial knowledge and expertise, TPF is able to help individuals take control of their finances and their future. This takes work. It takes commitment to say no and understand the concept of delayed gratification. It means declining short-term pleasure in the pursuit of long-term goals. Whether it is reducing debt, repairing credit, or homeownership, you must approach these goals with a plan and mission. The Phe’be Foundation and TCO are here to help you get started.
The next article in this collaboration will get to the root of what is happening with current economic conditions and how it affects you. The upcoming articles will cover the financial pandemic, as we will call it, and how you can adjust to the current situation. We will discuss what the financial pandemic is and how it affects you. We will also offer steps and strategies you can use to become more financially stable. Over the next 30 days, here are things you can do to prepare for the “Financial Pandemic”:
- Pull your credit reports at www.annualdcreditreport.com.
- Track your expenses and take note of spending habits.