WINSTON-SALEM, N.C. — Managing money is not easy for everyone. It’s not one of the skills you often learn in school, but it’s a key part in having a successful life.
Honorable Youth in Winston-Salem is a nonprofit focused on teaching moms and their children money management.
Brittany Broadway has found success here at Honorable Youth.
“This program has helped me gain a lot in life. Before this program, I wasn’t worried about credit scores or anything of the sort,” Broadway said.
The organization pairs moms with business professionals to help them with career development and teach them about credit, how to save money and prepare for buying their first home.
“I recently got a house two months ago so I gained a lot from this program, a lot of knowledge,” Broadway said.
Rasheeda Shankle, the founder of the nonprofit, said there are a lot of people turning to them for help.
“We have a single parent here who has eight kids and it’s just her. The kids have to watch the other kids while she’s trying to work,” Shankle said.
A Winston-Salem Foundation grant is helping these families feel more financially secure.
“The main thing that we do with the grant money is it’s a requirement for parents in this program they have to save $10-$25 each month out of their paycheck. At the end of the program we match to $500,” Shankle said.
Last year, all the parents they helped opened up bank accounts.
“We are trying to make sure the women are able to utilize the resources that they have be able to take care of the families that they have, as well as to pursue a higher education to get another job,” Shankle said.
“A lot of women don’t have the support they need to take their families up the economic ladder. A lot of families, it’s just them,” Shankle continued.
Shankle says 74 percent of the population they work with in east Winston-Salem are African-American and Latino women who don’t work sustainable jobs to take care of their families. And half the people in the program don’t have transportation.
Each child learns the basics of entrepreneurship and what it takes to start a business, including getting a license.
Honorable Youth is currently helping 10 families but because of limited resources and funding they have several people they have to turn away or put on a wait list. The organization does provide incentives like summer camps and after-school tutoring for kids.