LifePath can help with financial literacy

Thursday, March 22, 2018

As reported recently, LifePath, Area Agency on Aging, has received a $5,000 grant from the State of Massachusetts Division of Banks and Office of Economic Empowerment, Massachusetts State Treasury. The grant is called Operation Money Wise: Financial Education Opportunity Grant, which is meant to support financial literacy in the military, veteran, family and survivor community. The $5,000 comes from a settlement out of the state’s Division of Banks after alleged unlawful lending practices.

The grant will enable LifePath to prioritize serving local veterans through our Money Management program, which helps people who have difficulty writing checks or managing basic living expenses for physical, cognitive or behavioral health reasons.

Bill payer services provide monthly one-on-one assistance from trained volunteers with any or all of the following: writing checks, balancing checkbooks, sorting bills, developing a budget, monitoring income and expenses, or developing a payment plan. With the trained volunteer’s guidance, the client is able to make wise financial decisions for him or herself, thus protecting against financial insecurity, increasing the likelihood of a secure retirement, and empowering him or her to be financially secure and independent. The service is offered at no cost to low-income clients.

Money Management in Massachusetts has a more-than-23-year track record of successful operations and well-established systems to ensure that accounts are managed securely and in the best interest of the client.

We applied for this grant because there is an unmet need for money management assistance for veterans here, where there are more veterans as a portion of the population (about 10 percent) than in other areas of Massachusetts (about 7 percent). In one town, Orange, 13 percent are veterans.

LifePath is currently recruiting volunteers to serve as Money Managers for local veterans. For more information about Money Management or to inquire about volunteering or enrolling, visit http://bit.ly/2ppFw6x or call Lynne Feldman, director of community services, 413-773-5555, ext. 2215.

Lynne Feldman

director of community services, LifePath