Financial Empowerment

Financial empowerment addresses poverty through strengthening financial inclusion, knowledge, skills, and opportunities for community members living on low levels of income. SEED is committed to expanding the provision of financial empowerment interventions and addressing systemic barriers.  

The five pillars of financial empowerment adopted by SEED are:  

1. Financial information, education, coaching and counselling to build financial capability.   
2. Access to income boosting benefits and tax credits to increase incomes.   
3. Access to safe and affordable financial products and services to enhance financial inclusion.  
4. Opportunities to reduce debt, grow savings and build assets to build financial security.  
5. Consumer awareness and protection to reduce financial risk.   

Sources  

• ABLE Financial Empowerment Network. Financial Empowerment:  What it is and How it Helps to Reduce Poverty. September 2017.  
• Prosper Canada, Financial Empowerment: Improving Financial Outcomes for Low-Income Households.