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December Volunteer Coach Spotlight: Cristine

Our volunteers are the heart of Women’s Money Matters’ unique programs. Our programs match participants with dedicated mentors who commit to months of connection, support, and encouragement.  Volunteer presenters are experts in their field and join us for program sessions to lead discussions and bring real-world context to the topics. 

We have profound gratitude for the thoughtful, consistent care demonstrated by our volunteer community.  As part of a monthly series,  we’re highlighting outstanding volunteers them an opportunity to share their experiences with our wider community.

Meet Cristine

Cristine has nearly three decades of experience in banking and management and currently works at Santander in commercial banking, supporting commercial operations and servicing teams. She began her career in business management while attending Rhode Island College and has held roles ranging from customer service representative to branch manager, along with positions across sales and operations.

Describe your motivation to volunteer with WMM.

I understand the value and have seen firsthand how not truly having insight into your finances can impact any household, especially in difficult domestic or challenging home situations. When my father passed away at a younger age, it quickly became clear that my mother had relied on him to handle all of the finances. It took time and support for her to be able to navigate credit, budgets, and the details that come with taking control of your own finances. 

Volunteering for organizations that support women—empowering and advocating for them—are always the ones I lean towards.Independence, knowledge, and sharing vulnerability: I try to share my own real-life situations to help participants feel comfortable knowing they can learn, grow, and make positive change.

Tell us about some highlights or bright moments in your coaching/presenting experiences so far. 

I’ve been a Volunteer Coach for over 6 years.  The most rewarding moments come from watching participants progress through the programs and sharing their wins. I always try to give kudos and reinforcement, following advice from a former leader who used to say “a lot of a little is a lot”— we are here to help participants stay encouraged!

What continually impresses me is how participants share what they’ve learned, whether through Women’s Money Matters or their own research. Their different perspectives and points of view have taught me so much. While we might not know all of their experiences, working with them has opened my eyes to the importance of having patience and grace, reinforcing how crucial it is not to judge others.

I’m consistently amazed not only by the participants but also by all the other volunteers and staff members at WMM. Their dedication and passion shine through in every single session, making this volunteer experience truly meaningful.

November Volunteer Coach Spotlights: Sarah & Cindy

Our volunteers are the heart of Women’s Money Matters’ unique programs. Our programs match participants with dedicated mentors who commit to months of connection, support, and encouragement.  Volunteer presenters are experts in their field and join us for program sessions to lead discussions and bring real-world context to the topics. 

We have profound gratitude for the thoughtful, consistent care demonstrated by our volunteer community.  As part of a monthly series,  we’re highlighting outstanding volunteers them an opportunity to share their experiences with our wider community.

Meet Sarah & her mom, Cindy

 

Describe your motivation to volunteer with WMM. Had you volunteered before? Why is financial literacy and empowerment important to you? Describe your ‘why.’I grew up watching my mom, Cindy, volunteer in different ways — especially helping women learn Excel — and late at night we’d sometimes watch a financial TV show together, which sparked my curiosity about money. As I got older, I continued volunteering and, after helping many friends with their finances, I wanted to share those skills more widely. Cindy, who taught herself many of these skills and passed them down to me, has always loved helping women feel confident and independent. Financial literacy can truly change lives, yet it’s something most of us aren’t taught enough — especially women. To me, it’s real empowerment because it gives you the freedom to make choices and shape your life.Provide a brief bio of your professional background, including any certifications or training relevant to the WMM programs.Cindy works in the actuarial department of an insurance company, and I’m a program manager in the clean energy sector. We’re both “math people” at heart, and while neither of us has formal training in personal finance, we bring strong analytical skills and a passion for numbers to everything we do. In another life, we both might have loved to work in finance.When did you start volunteering with us, and how many programs have you been a coach or presenter in?I started volunteering with WMM in spring 2025 and am excited to be a coach in my second cohort this month. Cindy is currently coaching her first cohort.Tell us about some highlights or bright moments in your coaching/presenting experiences so far.Cindy loves connecting with her participant and helping build a strong financial foundation. I enjoy problem-solving and finding solutions that fit each participant’s unique circumstances. Together, we love seeing how even small steps in financial learning can boost confidence and independence.Have there been any surprises, have you learned new things, gained new insights through these experiences? How has working with WMM participants broadened or deepened your knowledge or understandings?Volunteering with WMM has been full of learning. My mom and I have both realized that financial literacy isn’t just about numbers — it’s about understanding each participant’s challenges and finding solutions that work for them. We’ve learned that empowerment comes from both skills and support, and seeing that impact is incredibly rewarding.Finally, share anything else you’d like the reader to know about WMM programs and the volunteer experience.Just do it! Volunteering with WMM is a meaningful way to give back, and it’s amazing to see the direct impact on someone’s confidence and financial skills. The program is such a fantastic resource for people who need it, and every session reminds me why this work matters — for both participants and volunteers.

Understanding Money Dysmorphia in Today’s Economic Reality

Understanding Money Dysmorphia in Today’s Economic Reality

Women’s Money Matters was recently quoted in The B-Side’s September 16th article about money dysmorphia. Here, we expand on that coverage with additional insights from our community.

The Reality Behind Financial Self-Doubt

Money dysmorphia is an increasingly common experience among young adults. The recent article in The B-Side highlighted a striking reality: “You have enough money to pay the bills and then some. So why does it feel like it’s not enough? Welcome to the world of money dysmorphia — that perpetual financial dread you feel … even when you’re doing just fine.”

The numbers are telling: “A recent Credit Karma study found that 43% of Gen Zers and 41% of millennials say they experience money dysmorphia. Same goes for 66% of B-Side readers we polled.”

The B-Side article identified key factors driving this phenomenon: “Young people’s reference points for financial success are sky-high. But for most people, that success is steadily becoming less attainable. Why? Social media is making it easier than ever to compare our lives and finances to more people (read: wealthier people), while traditional benchmarks of success like homeownership inch further and further away.”

As Women’s Money Matters Director of Volunteer Partnerships, Ariana Contreras, noted “that dysmorphia can feel even worse for BIPOC and low-income folks. Ultimately, our financial footing ‘boils down to generational wealth, and access to family resources and support.’ When you’re not starting out on an equal playing field, money dysmorphia can feel even more extreme.”

When Success Feels Insufficient: A Personal Story

We brought this topic to our online community platform, Connect, and this experience definitely resonates.  

“As a member of the Women’s Money Matters community, I’ve been doing the work to get my finances in order. But I still experience money dysmorphia, especially when I’m on social media..It’s not that I haven’t worked hard or made progress. It’s that social media constantly reminds me of the gap between what I thought my education would unlock and the reality I’m living.That disconnect between effort and outcome is where my money dysmorphia shows up the most.

That’s why I value spaces like Women’s Money Matters. They understand that financial insecurity isn’t always about numbers. It’s about context, access, and healing from systems that weren’t built for us. For me, WMM is a space where I can rebuild my financial confidence without shame and that platform they created helps to empower me when I’m working on my financial goals.”

The Psychological Toll and Its Financial Consequences

The B-Side article explained how “bad feelings often = bad financial decisions. That’s for all sorts of psychological reasons.” The piece cited BU Marketing professor Carey Morewedge’s research on how “spending can create the illusion of reclaiming control over your identity (a.k.a. compensatory consumption), or act as a way to metaphorically throw your hands up in the face of a bleak financial future (a.k.a the ‘what the hell effect’).”

The article’s warning was clear: “This kind of spending rarely makes you feel better, and often leads to more spending.”

The B-Side’s recommended solution was to “realign your choices with your values, not your rich friend’s.” Financial therapist Rachel C. Sykes suggested that “money dysmorphia often boils down to the assumption that what’s on your rich friend’s IG will make you happy… So take a hard look at what YOU want for yourself, and let your decisions flow from there.”

 As our community continues to grow and support one another, we’re creating spaces where financial confidence can be rebuilt—not despite our different starting points, but because of our shared commitment to supporting each other’s journeys.  

Our Programs: Building Financial Wellness Beyond the Numbers

At Women’s Money Matters, we understand that overcoming sensations like money dysmorphia involves more than traditional financial literacy. Our 8-week programs are designed to achieve true financial wellness, and this includes the feeling of empowerment.  This transformation happens through practical skill building, personalized one-on-one coaching, and the peer group support that creates safe spaces for healing and growth. Join us as a Participant or Volunteer in an upcoming program! 

To learn more about our financial wellness programs for women and girls, connect directly with our Program Team through text or email: 617-297-7376 or [email protected]

Powerful Voices at the State House: WMM Graduates and Staff Testify for Financial Education

“I want my children to walk into classrooms where financial literacy is taught with excitement and real-life application. Children are full of imagination. If we give them the tools to understand money early, they won’t just dream. They’ll build.”

These powerful words from Women’s Money Matters Graduate Neyesha captured the heart of our testimony on Sept 16th at the Massachusetts State House, where advocates gathered to support bills ensuring all Massachusetts students receive comprehensive financial education.

Advocacy in Action

Advocacy work is an important part of our mission at Women’s Money Matters, which is why yesterday, Ariel Garfinkel, our Program Manager, was joined by two of our Program Graduates as they testified in support of Bill H46/H636/S421, an Act requiring financial education in schools. They were among dozens of advocates who shared compelling testimony about why financial literacy education matters for our youth.

Why Financial Education Matters

Financial education is more than a life skill—it’s an equity issue. As providers of financial wellness programs for women and girls living on low incomes, we see the impact of financial literacy every day. By making these skills part of a comprehensive requirement, the benefits to individuals, families and entire communities will be vast.

Graduate Jazzmine eloquently expressed this reality in her testimony: “Learning about money is important because it affects almost every part of life — survival, independence, security, and most importantly, breaking cycles.”

By teaching young people how to build credit, save, and invest, we can help them avoid high-interest debt, strengthen financial stability, and open pathways to economic mobility. For youth living on lower incomes, these lessons are especially critical to breaking cycles of intergenerational poverty and building more secure futures.

A Question of Commitment

As Ariel shared in her testimony to lawmakers, the need for financial education is undeniable: “Personal finance impacts every single one of us. Financial education is prevention. It is therefore not a question of whether financial education is necessary – it is a question of whether we are committed to ensuring financial security for the people of Massachusetts.”

Standing Together

We are proud to stand alongside others advocating for this important step toward ensuring all Massachusetts students have access to the tools they need to succeed. We’re especially grateful to our partners in this advocacy work: The Financial Education Network and the Midas Collective. Together, we’re building a coalition committed to financial equity and education access.

Your Voice Matters

The testimony phase may be complete, but there is still time for your voice to be heard. Support these critical bills by writing to your state legislators and urging them to champion financial education in our schools.

Take Action: Write to your legislators here

Financial education isn’t just about teaching students to balance a checkbook—it’s about giving them the tools to dream big and build the futures they envision. As Neyesha so beautifully put it, when we give children the tools to understand money early, they won’t just dream. They’ll build.

 

Exciting Funding News and Expansion into Springfield

September 19, 2025 — We are thrilled to share that Women’s Money Matters has received an $82,500 grant from the MassMutual Foundation to bring our financial wellness programs to Springfield, MA—one of the areas of greatest need in the state. With this support, we will extend our proven model of financial literacy workshops, personalized coaching, and community-based support to more women striving to build brighter, more secure futures for themselves and their families.

As part of this expansion, we are also investing $7,500 to join Union Capital, a powerful community network – and fellow MassMutual Foundation grantee – that strengthens local connections by engaging families in programs, sharing resources, and supporting collective action. Through this membership, we’ll be able to meet women where they are—attending Network Nights, connecting with families directly, and building authentic, community-rooted pathways to impact.

Why Springfield?  The need is urgent: 

● Springfield’s poverty rate (25.26%) is more than double the Massachusetts average (11.5%) and well above the national average.

● Nearly 1 in 3 women in Springfield (29.1%) lives in poverty, compared to just 9.9% in Quincy. By expanding into Springfield, Women’s Money Matters aims to close these gaps and provide women with the financial knowledge, tools, and confidence to thrive.

A Growing Partnership with The MassMutual Foundation.

This grant builds on a deep and growing partnership with the MassMutual Foundation, championed by Sarah Hedges, a valued WMM Board member and MassMutual team member. Together, we have:

● Collaborated with NeighborShare to provide direct financial relief in Springfield and Boston. NeighborShare is also a MassMutual Foundation grantee.

● Advanced the Bridge to Prosperity benefit cliff pilot, supported by the MassMutual Foundation, to address the benefit cliffs that many women in our financial wellness programs experience as a roadblock to economic mobility.

We’re excited to continue to engage the MassMutual Foundation and MassMutual employees in meaningful volunteer opportunities that bring even more hands-on support to the women in Springfield living on low-incomes. We are deeply grateful to the MassMutual Foundation for its generous investment and continued commitment to advancing financial security for women and families across Massachusetts. Together, we are building stronger, more resilient communities.

A New 8-Week Program + New Budgeting Tools for Financial Futures

We’re thrilled to share two important updates that reflects our commitment to making financial education more accessible to women in our community – a new 8-week program for Financial Futures and a new digital budgeting tool with premium features. 

Note For Our Volunteers:  

Here is the  WMM New Curriculum & My Finances Training Video — a great resource to help you prepare for your sessions.

 

A New 8-week Curriculum for Financial Futures!

After listening carefully to feedback from both participants and volunteers, we’ve redesigned our Financial Futures program into a streamlined 8-week curriculum. This was an opportunity to keep our content current, integrate our new My Finances tools, and make sessions even more engaging with added breakout sessions.

The new curriculum is action-oriented, focusing on practical exercises and hands-on learning rather than theory, so participants can immediately apply what they’re learning. This represents a shift from our previous 12-week format, and we couldn’t be more excited about the potential impact.

We’re also introducing early volunteer–participant matching, which means volunteers will be paired with participants before the first session. Signing up early ensures you can take full advantage of this opportunity to connect with your participant, understand her goals, and start building trust before the program begins.

Why the Change?

Your voices matter, and we heard you! The feedback was clear: while our content was valuable, the 12-week commitment was sometimes a barrier for busy women juggling work, family, and other responsibilities. Many potential participants and volunteers expressed interest but hesitated due to the longer time commitment.

At the same time, our curriculum was due for a refresh. The result is an 8-week program that’s focused, practical, and better aligned with the needs of both participants and volunteers.

What This Means

Our new 8-week format maintains all the essential financial literacy content while creating a more manageable commitment for everyone involved. We believe this change will:

  • Increase participation by removing time barriers that prevented women from joining
  • Attract more volunteers who can now more easily fit our program into their schedules
  • Maintain program quality with focused, impactful sessions
  • Create more program cycles throughout the year, reaching even more women

 

Introducing Our New Digital Budgeting Tool: My Finances

We have another exciting announcement! In addition to our streamlined curriculum, we’re launching a brand-new digital budgeting tool designed specifically for Women’s Money Matters participants.

Built by Us, For Us

This isn’t just another budgeting app. After hearing repeated requests from participants and volunteers who wanted something more sophisticated than Excel spreadsheets but tailored to our program’s approach, we’ve developed a custom solution that combines the best features of premium financial tools (like Mint or Monarch) with the specific needs of our community.

What Makes It Special?

Our new budgeting tool offers:

  • Full-featured functionality with all the capabilities you’d expect from premium budgeting software
  • Custom integration with our 8-week curriculum topics and exercises
  • Privacy-focused design built specifically for our participants
  • User-friendly interface designed with feedback from women in our programs
  • Seamless program integration that reinforces learning from each session

The Perfect Complement

This tool will work hand-in-hand with our new 8-week format, giving participants a practical way to immediately apply what they’re learning. Instead of struggling with generic spreadsheets or apps that don’t align with our teaching approach, participants will have a powerful, purpose-built tool to support their financial journey.

Thank you to our community of Volunteers for the feedback, testing, and engagement that has contributed to these new initiatives.  Together, we’re making financial literacy more accessible, one woman at a time.

 

Learn more about our Programs and see the Upcoming Start Dates here

 

August Volunteer Coach Spotlights: Fabian

When participants ask questions, it shows they are engaged and want to learn more.’ Fabian Smith, volunteer presenter, shares how WMM’s programs create space for meaningful dialogue.

Our volunteers are the heart of Women’s Money Matters’ unique programs. Our programs match participants with dedicated mentors who commit to months of connection, support, and encouragement.  Volunteer presenters are experts in their field and join us for program sessions to lead discussions and bring real-world context to the topics. 

We have profound gratitude for the thoughtful, consistent care demonstrated by our volunteer community.  As part of a monthly series,  we’re highlighting outstanding volunteers them an opportunity to share their experiences with our wider community.

Meet Fabian Smith

Fabian Smith has been a tax professional for over 27 years and currently works as a financial advisor at Blue Skies Financial Advisors.  Located in Illinois,  Fabian joined Women’s Money Matters in June 2024 as a volunteer presenter. Since then, he has shared his expertise in six sessions, helping participants gain practical skills and confidence in managing their finances.

Tell us about some highlights or bright moments in your presenting experiences so far.

The brightest moments in my presenting experience have been the overall enthusiasm of the participants. They have shown great insights and eagerness to learn new skills and have not been afraid to participate and ask questions. As a presenter, when the participants ask questions, it shows that they are engaged and want to learn more.

Often, we as human beings are afraid to speak openly about our struggles and setbacks for fear of what others might think, but I found the openness of the participants refreshing, and it made the discussions more real.

Have there been any surprises, have you learned new things, gained new insights through these experiences? How has working with WMM participants broadened or deepened your knowledge or understandings?

The brightest moments in my presenting experience have been the overall enthusiasm of the participants. They have shown great insights and eagerness to learn new skills and have not been afraid to participate and ask questions. As a presenter, when the participants ask questions, it shows that they are engaged and want to learn more.

Often, we as human beings are afraid to speak openly about our struggles and setbacks for fear of what others might think, but I found the openness of the participants refreshing, and it made the discussions more real.

Finally,  share anything else you’d like the reader to know about WMM programs and the volunteer experience.

My experience with the WMM program has been rewarding to me personally and professionally. The material reinforced some of the principles I already knew but had allowed to reside in the back of my mind.

This opportunity allowed me to connect with the coaches and program managers who are the heroes of the program because they have dedicated their time to helping women achieve independence. Overall, this has been an excellent opportunity for me and one that I talk about all the time, because it has allowed me the chance to take what I know to people who eagerly want to learn it.

July Volunteer Coach Spotlights: Marilyn

From helping participants celebrate paying off debts to mentoring new coaches in our pilot Senior Coach program, Marilyn has made a lasting mark at WMM. Get to know her story.

Our volunteer coaches are the heart of Women’s Money Matters’ unique programs. More than workshops, our programs match participants with dedicated mentors who commit to a full three months of connection, support, and encouragement. We have profound gratitude for the thoughtful, consistent care demonstrated by our volunteer coaches. As part of a monthly series,  we’re highlighting outstanding coaches and giving them an opportunity to share their experiences with our wider community.

Meet Marilyn, a dedicated Volunteer Coach currently coaching in her seventh program while helping shape the next generation as part of our Senior Coach pilot. This new program pairs experienced coaches with graduates who are stepping into the volunteer role for the first time, and Marilyn has graciously served as our very first Senior Coach, mentoring new coaches with warmth, wisdom, and care.

Her mentee, Esmeralda, recently attended her first coach orientation and shared how much Marilyn’s support meant to her. As someone who identifies as introverted, Esmeralda said she felt reassured and encouraged thanks to Marilyn’s thoughtful guidance and steady presence.  Seeing graduates like Esmeralda feel inspired to return as coaches is one of the most powerful testaments to the impact of our programs and the power of coaching. 

We asked Marilyn about what keeps her coming back to coach, the connections she’s built with participants, and the moments that have stayed with her over the years —read on to hear what she had to say.

Describe your motivation to volunteer as a one-on-one coach with WMM.  Had you volunteered before?  Why is financial literacy and empowerment important to you?  Describe your ‘why.’ 

My motivation to volunteer as a one-on-one coach with WMM stems from both personal and professional experiences that have shown me the transformative power of financial knowledge. As someone who has struggled with discipline during my young adult years, I’ve seen firsthand how financial understanding—or the lack thereof—can shape someone’s opportunities, confidence, and long-term stability.

Yes, I have volunteered before, but never in a way that so directly aligns with my passion for financial empowerment. As I pursue my Accredited Financial Counselor (AFC) certification, I feel a strong calling to give back by helping individuals navigate their financial journeys with clarity and confidence. I want to be the kind of coach I wish many of my clients and community members had earlier in life—someone who listens, supports, and helps demystify money management without judgment.

Financial literacy isn’t just about budgeting or credit scores—it’s about dignity, choices, and the freedom to create a life you envision for yourself. My “why” is rooted in the belief that everyone deserves access to that freedom, regardless of where they start. Volunteering with WMM gives me the chance to help bridge the gap between potential and opportunity.

 

Tell us about some highlights or bright moments in your coaching/presenting experiences so far. 

Some of my brightest moments as a coach have been the unexpected messages I receive from former mentees sharing their wins—like boosting their credit scores or paying off a debt they once felt overwhelmed by. One of the biggest things I’ve learned is how resilient these women are despite their hardships. I’m absolutely honored to have been a part of their journey!

Finally,  share anything else you’d like the reader to know about WMM programs and the volunteer experience.

There’s a real sense of community and shared purpose that makes the work even more meaningful. If someone is considering volunteering with WMM, I would wholeheartedly encourage them to do so. This experience has not only allowed me to give back in a purposeful way, but it’s also helped me grow personally and professionally.

Financial Futures

Our Financial Futures program empowers women and girls to improve their financial health to create a more secure future for their families and communities.  Our unique model offers small peer groups AND a one-on-one mentor for all sessions.

UPCOMING START DATES:

VIRTUAL | English
March 4, Wednesdays, 12:00-1:30pm EST
March 11, Wednesdays, 6:30-8:00pm EST
March 17, Tuesdays, 6:30-8:00pm EST
March 21, Saturdays, 9:30am-11:00am EST
March 23, Mondays, 6:30-8:00pm EST

 

IN-PERSON | English
March 18, Wednesdays, 6:00-7:30pm EST (580 Chelmsford St., Lowell)

 

VIRTUAL | Spanish
Marzo 19, Jueves, 6:30-8:00pm EST

 

About The Financial Futures Program

Time Commitment:
Women’s Money Matters programs last ~2 months. Every week you will attend a Women’s Money Matters financial workshop with your coach (~1.5 hours), and you will meet one-on-one with your coach to focus on your specific financial goals (~1 hour) at a time that works best for you!

What You Will Learn:
Build the confidence to improve your and your family’s financial wellness. You will learn about topics like, building and repairing credit, creating a spending and savings plan that works for you, protecting yourself from fraud, and much more!

Program Structure:
We don’t just provide an environment to gain financial skills, learn new strategies, and tackle your current financial issues, but also a community of support from other women who are in similar situations. You will be matched with a coach who will support you along your financial wellness journey.

Cost:
Our programs will always be at no cost to our participants.

Register above or connect directly with our Program Team through text or email:

617-297-7376  or [email protected]

The Launch of Bridge to Prosperity: Benefits Cliff Pilot

April 30th, 2025: We are thrilled to announce the official press release about Bridge To Prosperity: Benefits Cliff Pilot.  See the full text below and keep an eye out for additional coverage by local media outlets.  We are grateful for the support from JPMorganChase and Springfield WORKS, and we look forward to sharing the stories of direct impact as the cohort of local participants grows.  For more information, see our full webpage about this pilot, including additional resources.

Women’s Money Matters Advancing Pilot Program to Empower Massachusetts Families and Build their Financial Equity and Success: Multi-year pilot program receiving support from JPMorganChase to address cliff effect challenges facing many low-income families

Women’s Money Matters is today advancing a multi-year pilot program in collaboration with Springfield WORKS to address the pervasive cliff effect that traps many families in cycles of poverty and prevents them from building generational wealth.
With a $500,000 philanthropic grant from JPMorganChase, the Bridge to Prosperity Cliff Effect Pilot will empower families receiving public assistance benefits to overcome financial challenges and achieve sustainable independence. This program will test the impact of supplemental financial support, combined with financial and career coaching to help families navigate the transition from public benefits assistance to sustained economic mobility and prosperity.

The Bridge to Prosperity Cliff Effect Pilot is a state-wide project that seeks to work with up to 100 low-income working families who are receiving public assistance and live in greater Boston, Worcester and Springfield. In addition to supporting participants and their families on the road to economic financial stability, the pilot also aims to demonstrate how public and private investments can help households successfully transition from public assistance to permanent employment that meets their financial needs across the US.

The “Cliff Effect” refers to a barriers in our public benefits system that inadvertently disincentivizes work. Eligibility for family supports like food, health care, housing and childcare assistance are based on income. The Cliff Effect happens when families’ income increases enough that they lose eligibility for these benefits, but not enough to yet afford housing, health care, and childcare on their own. The result is that an increase in wages often leads to a decline in standard of living – working harder, but bringing less income home.

Research from the pilot will be used to:
● Demonstrate the impact of transitional support to help families bridge the economic mobility gap created by the benefits cliff while pursuing employment pathways to a living wage
● Reinforce workforce development efforts and combating worker shortages
● Demonstrate the case and providing data for systemic policy change to create pathways for greater financial security and generational wealth building.

Danielle Piskadlo, Executive Director of Women’s Money Matters, says, “We are deeply grateful to JPMorganChase for their incredible support. This grant will significantly bolster our efforts to support working families and ensure that the system is working to improve their economic wellbeing and remove barriers that prevent them from accessing opportunities to improve financial well-being.”

Anne Kandilis, Director of Springfield WORKS, Western Mass Economic Development Council, commented “Springfield WORKS is thrilled to partner with Women’s Money Matters to advance this critical Pilot. Health care, hospitality, education, front line, and part-time workers are disproportionately affected, as are women and people of color who work in these jobs. Our ability to meet current labor needs and grow our economy depends on creating the right economic incentives and making sure the pathways to career opportunities are open and accessible to all.”

“A good job, with the promise of growth and upward mobility, is important to helping people build a strong financial foundation and improve their financial health. However, for too many families, the risk of losing essential benefits that help manage daily needs discourages them from taking opportunities to invest in their future,” said Mercedeh Mortazavi, Head of Financial Health, JPMorganChase Global Philanthropy. “We’re thrilled to support Women’s Money Matters in this work to help more Massachusetts families improve their financial health, while building an evidence base for a model that can empower more Americans to pursue greater economic opportunity.”

Public benefits are a necessary lifeline for families living on lower incomes. This is especially true for those living at or below the federal 200% poverty level, which is defined as an annual income of at least $46,800 for a family of four. However, according to the Federal Reserve Bank of Cleveland, “the benefits cliff can affect people with incomes up to about $60,000 a year” meaning it affects individuals beyond what is considered poverty. Any attempt at improving their financial circumstances could mean forfeiting the support they need to meet their basic living requirements, forcing families to make a choice between daily survival or building wealth.

Nationally, 38 million people live at or below the federal 200% poverty line, meaning that the benefits cliffs prevent over 12% of the U.S. population from taking steps to pursue economic mobility. In Massachusetts, over 700,000 individuals live at or below the poverty line and face benefits cliff issues.

Women’s Money Matters witnesses the consequences of the Cliff Effects every day. Through our financial wellness programs, women feel empowered to continue their journey and increase their income for themselves and their families, until they are face-to-face with the benefits cliff.

Change takes time and this multi-year pilot project will demonstrate how employment, coaching, and financial support will impact participants’ economic and family well-being. If successful, this pilot will serve as a model for change and demonstrate innovative ways of rethinking America’s safety net programs to more effectively support entry into meaningful work and career advancement to economic mobility.

For more information

About Women’s Money Matters: 
Women’s Money Matters, a nonprofit organization whose mission is to empower women and girls living on low incomes with the tools to transform their financial futures. WMM programs provide essential money management skills and a strong support network, enabling participants to create secure, stable lives for their families and communities. WMM serves women and girls aged 8 through retirement who are living on low incomes, many in transitional housing. Core programs provide one-to-one coaching, and peer cohorts for social support and belonging. Topics include building and repairing credit, creating a spending and savings plan that works, and keeping your money safe. Volunteers are core to our work. There are a range of remote and in person opportunities. All you need is the desire to help another women or girl make the most of the money she has. WMM has reached thousands of women across Massachusetts and continues to grow programming to meet the demand for programming. For more information contact Women’s Money Matters at (617) 297-7376; Danielle Piskadlo [email protected]

About Springfield WORKS: https://springfieldworks.net/
Springfield WORKS, an economic development initiative with the Western Mass Economic Development
Council, is dedicated to removing systemic and racial barriers to economic mobility and well-being.
Through targeted collaboration with community partners, employers, policymakers, educators, and
residents, our work is influencing the way employers source talent and career seekers gain access to
economic opportunities by providing solutions, networks, tools, and resources that remove barriers to
prosperity. For more information contact Anne Kandilis at [email protected].

About JPMorganChase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $351 billion in stockholders’ equity as of March 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com
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