Women’s Money Matters Welcomes A New Board Member

By Allegra MendonsaNews, Blogs, Events

Imran Malek

Women’s Money Matters, a non-profit dedicated to empowering women to improve their financial health to create a more secure future for their families and communities, with a vision of a world in which all women have a financially stable life, is pleased to welcome the newest addition to its Board of Directors, Imran Malek.

Imran Malek is an accomplished Mergers and Acquisitions attorney at Skadden, Arps, Slate, Meagher & Flom LLP in Boston. His practice focuses on large corporate transactions, with a specialization in the biotech and technology sectors. Imran’s extensive experience in these fields will be a valuable asset to our organization as we continue to strive towards our mission of providing financial empowerment and support to women and girls from low-income backgrounds.

In addition to his corporate expertise, Imran is deeply committed to community service. He dedicates a significant portion of his time as a pro bono attorney for small businesses and non-profits, aligning closely with our organization’s values and our commitment to fostering financial stability for underserved communities.

Before embarking on his legal career, Imran worked as a software engineer and product manager at several startups in Boston. This background in technology and entrepreneurship gives him a unique perspective that will greatly enhance our board’s strategic discussions and initiatives.

We are confident that Imran’s diverse experiences and dedication to community service will strengthen Women’s Money Matters. Please join us in welcoming Imran Malek to the Women’s Money Matters Board of Directors. We look forward to his contributions and the exciting opportunities ahead.

About Women’s Money Matters:

Women’s Money Matters builds the financial wellness, confidence, and security of women living on low incomes through a unique program that combines instructional workshops and personal, one-to-one coaching. For more information about Women’s Money Matters and its programs, please visit https://womensmoneymatters.org/

July 24, 2024

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Graduates Testify About the Cliff Effects at Massachusetts State House

By Allegra MendonsaNews, Blogs, Events, Advocacy

Graduates Testify About the Cliff Effects at Massachusetts State House

Watch the powerful testimonies of WMM graduates Ariela and Jami at the Massachusetts State House as they courageously share their stories and the challenges they face. Their experiences highlight the struggles faced by many women in WMM financial wellness programs and countless families impacted by the public benefit cliff.

The “Cliff effect” happens when a slight increase in wages results in a disproportionate loss of public benefits, leaving families worse off despite earning more. Ariela and Jami’s testimonies bring to light the real-life implications of this issue.

Ariela shared, “I wake up exhausted every day to get my son ready for school. Make him lunch, making sure I don’t overdo it with his food or snacks because I’m not sure if I will be able to afford any food the following week.” She went on to describe the difficult balancing act she faces: “If I try to apply to DTA for food stamps I will get a denial letter because I make ‘too much money’ but where is that money? WIC is next in line where I am going to get cut off because I make too much money but yet I am still struggling.”

At Women’s Money Matters, we are committed to addressing these challenges head-on. We proudly promote the Bridge to Prosperity Pilot Program, which aims to provide crucial support for families at risk of falling “off” the cliff. This three-year pilot program is designed to ease the transition off public assistance while securing sustainable employment for up to 100 families throughout Massachusetts. Payments made through the Massachusetts Department of Transitional Assistance (DTA) help reduce the impact of cliff effects as workers transition out of governmental assistance programs. By testing a government solution to remove the impact of cliff effects and using data to prove that this policy incentivizes work while reducing costs to the Commonwealth, we hope to create a model for lasting change. The program also deploys a holistic 2 Generation/Whole Family model to ensure family success, incorporating career coaching, mentoring, financial education, and wellness counseling.

Ariela shared, “I wake up exhausted every day to get my son ready for school. Make him lunch, making sure I don’t overdo it with his food or snacks because I’m not sure if I will be able to afford any food the following week.” She went on to describe the difficult balancing act she faces: “If I try to apply to DTA for food stamps I will get a denial letter because I make ‘too much money’ but where is that money? WIC is next in line where I am going to get cut off because I make too much money but yet I am still struggling.”

Jami echoed these struggles, noting, “Without WIC, a small amount of food stamps, and the help of my parents, I couldn’t have provided enough food for my child.”

Ariela further highlighted the daily stress she endures, saying, “I drive my car to work and try not to do any special activities in between because who’s to say I’m going to have the $50 to fill up my gas tank? If I don’t have gas I won’t be able to get to any of my four jobs and if I can’t get to any of my four jobs where am I going to get any money from?” Despite working multiple jobs, she still struggles to make ends meet: “Right now, me having four jobs is not a walk in the park. I’m anxious that I may lose my Section 8 voucher because I’m ‘overqualified.’ But if they take my Section 8 voucher away, I will be right back in shelter but with a son this time around.”

A highlight of Jami’s testimony was her success story and the support she received from our programs: “Through Women’s Money Matters, I bought my own home, I also paid off my car loan, and my credit score is almost 800.”

Thank you for supporting our mission and standing with us as we work to address the cliff effects and promote financial empowerment for all.

Watch the video above to hear Ariela and Jami’s powerful testimonies.

May 21, 2024

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Graduate Returns as New Board Member: Welcome, Valerie Galvao!

By Allegra MendonsaPress Release, News, Blogs, Events

Women’s Money Matters Welcomes New Board Member, Valerie Galvao

A program graduate becomes a board member

Women’s Money Matters proudly welcomes Valerie Galvao to its Board of Directors, marking a remarkable journey from program participant to esteemed board member. Valerie’s trajectory epitomizes the transformative impact of financial wellness and empowerment.

Valerie Galvao brings over a decade of dedication and excellence in human services to her new role. Valerie’s unwavering commitment to social work and community service shines through her extensive volunteer work with organizations like One Family Inc. and Agassiz Village Summer Camp, as well as her involvement in legislative testimony and city.

With a Bachelor of Social Work (BSW) from Salem State University on the horizon, Valerie’s academic achievements, including making the Dean’s List, member of several Honor Societies and active participation in the Student Advisory Council for the School of Social Work, underscore her commitment to excellence.

Her personal journey with Women’s Money Matters, from participant to board member, speaks volumes about her passion for financial empowerment. Her ongoing relationship with her coach, Anita, extends beyond financial wellness into various facets of life, emphasizing the profound impact of mentorship and support.

Reflecting on her time as a participant, Valerie highlights the sense of community fostered by Women’s Money Matters and the pivotal moment of creating a budget during workshops which allowed her to actualize short and long term financial goals. This experience catalyzed her journey towards financial stability and ultimately motivated her transition to a leadership role.

Transitioning to the board was motivated by Valerie’s desire to bridge participant experiences with board decisions. Her dedication to civic engagement and advocacy, fueled by her background in social work and personal experiences, underscores her commitment to systematic change. She gained hands-on experience in legislative advocacy initiatives and community organizing during her BSW internship in Macro-Social Work with the National Association of Social Workers-Massachusetts Chapter.

Valerie envisions Women’s Money Matters continuing to empower women through free programs, one-on-one coaching, and advocacy efforts. Her message to others embarking on a similar leadership journey is one of empowerment and resilience, emphasizing the importance of representation and using one’s voice to uplift others.

In joining the board, Valerie finds empowerment and healing, embracing her voice and story to inspire others. She acknowledges the supportive environment of Women’s Money Matters and the transformative mentorship she’s received, propelling her growth as a leader.

Please join us in welcoming Valerie Galvao to our Board of Directors. Her journey exemplifies the transformative impact of our programs and the unwavering commitment to empowering women through financial education and community support.

About Women’s Money Matters:

Women’s Money Matters builds the financial wellness, confidence, and security of women living on low incomes through a unique program that combines instructional workshops and personal, one-to-one coaching. For more information about Women’s Money Matters and its programs, please visit https://womensmoneymatters.org/

April 30, 2024

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Women’s Money Matters and Second Chance Cars Partner to Provide the Gift of Mobility

By ArianaIn The News, News, Blogs, Events

Women’s Money Matters has announced its partnership with Second Chance Cars, a nonprofit organization committed to positively impacting the lives of individuals facing financial challenges and supporting women living on low incomes. Second Chance Cars provides participants with greater mobility through this collaboration by giving our participants and graduates reliable used cars. They help people get, keep, or grow their jobs through affordable car ownership.

In a society where transportation is often a barrier for those with limited financial resources, Women’s Money Matters (WMM) and Second Chance Cars (SCC) recognize the importance of reliable transportation in accessing better opportunities, employment, and education. Danielle Piskadlo, Executive Director of Women’s Money Matters, shares, “We’re so fortunate to have this partnership with Second Chance Cars. Addressing this important need for reliable transportation contributes greatly to our mission of breaking the cycle of poverty and empowering women to achieve financial independence.”

Dan Holin, Executive Director of Second Chance Cars, said, “In 2023, our car recipients increased their annual incomes by 88% on average–from $24,000 to $45,000! This impact is due to a real collaboration with our car donors. Being able to change the lives of women living on low incomes in our community is our goal. Thanks to our partnership with Women’s Money Matters, we can now improve the lives of women and their families. Having a car will help women get better jobs and earn a stable income!”

Since our partnership with SCC started in Sept 2023, Women’s Money Matters has had five women from our financial wellness programs be recipients of cars. The first car recipient, Sarah, had a few obstacles in her path. Sarah escaped an abusive relationship, taking her three children to find refuge at The Front Door Agency. As she joined their transformational housing program, she had a dream burning inside her: “I want to stand on my own, provide for my family, and be financially secure.” In October 2022, she eagerly attended Women’s Money Matters Financial Futures sessions at the YMCA.

Sarah moved into her own apartment after completing housing support, but without a reliable vehicle, she struggled with carpooling. When she asked for help, Women’s Money Matters sponsored her into the Second Chance Cars program. While getting back on her feet, lack of access to childcare led to the loss of her job, and she took on a lower-paying barista job to maintain some income. As Sarah went through the application process to be granted a car from SCC, she completed micro-electronics job training and successfully landed a job that doubled her salary. However, transportation was still a challenge. After finishing the application process and waiting for the perfect car to be donated, it was finally go-time, and there was news that there was a vehicle ready. Receiving this vehicle improved Sarah and her family’s lives in different ways.

Similarly, our most recent recipient, Lola, is a Women’s Money Matters graduate who received her license at the beginning of 2023. As a single mom of three kids, Lola knew that having a reliable source of transportation would significantly impact her life.

After getting accepted by Second Chance Cars, Lola was able to get a Toyota RAV4 from a donor who no longer drives. She was extremely grateful as she got a new job promotion requiring a reliable car. Lola was so grateful to both Women’s Money Matters and Second Chance Cars and the Greater Lowell Technical School students for all their hard work repairing and maintaining the vehicle.

Having a reliable source of transportation is not only empowering but life-changing. At Women’s Money Matters, we want our participants and graduates to have great opportunities and stability. Cars help women get to work, save time in caring for children, give freedom, and help provide a stable income

If you, or someone you know, is looking to donate their car, please reach out to Second Chance Cars. Our participants and graduates come from all different walks of life. By providing the gift of mobility, we can collectively contribute to a brighter future for these women and the community at large.

About Women’s Money Matters:

Women’s Money Matters builds the financial wellness, confidence, and security of women living on low incomes through a unique program that combines instructional workshops and personal, one-to-one coaching. For more information about Women’s Money Matters and its programs, please visit https://womensmoneymatters.org/

About Second Chance Cars:

Second Chance Cars’ mission is to mobilize low-income workforce members to better complete living wage jobs through affordable car ownership. For more information on Second Chance Cars and how to get involved, please visit https://secondchancecars.org/

February 27, 2024

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WMM Testifies for Financial Education

By ArianaNews, Blogs, Events

We are so grateful that we were able to testify yesterday at the Massachusetts State House in support of Ryan Hamilton House Bill 4199- An Act Relative to Personal Financial Literacy- that would make one financial education class a graduation requirement! Our Program Manager, Carla, testified alongside a WMM graduate, Ariela Reynoso .

Carla testified to the importance of early financial literacy education so that youth are prepared, as they become adults, to be financially secure. Ariela testified as to how WMM helped her improve her credit score and the ability to become financially independent and was interviewed on WBZ NewsRadio

February 2, 2024

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Raising Voices on Pay Equity

By ArianaNews, Blogs, Events, Press Release

Watch the video above to listen directly to how women’s lives would be drastically improved if the gender wage gap were to close.

Women’s Money Matters empowers women to improve their financial health. We asked women in their financial wellness programs what they would do with an extra 30% income, or $6,592 a year, accounting for the 30¢ average gender wage gap.

The Boston Women’s Workforce Council (BWWC) leads a unique public-private partnership between the Boston Mayor and Greater Boston employers dedicated to eliminating gender and racial wage gaps. According to the BWWC’s 2021 Gender and Racial Wage Gap Measurement results, collected directly from employer payroll systems, the average gender wage gap in Greater Boston is 30¢.

December 11, 2023

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Women’s Money Matters Receives Grant from Womenade Boston to Financial Wellness Program

By ArianaIn The News, News, Blogs, Events, Press Release

BOSTON – Women’s Money Matters, a non-profit organization dedicated to empowering women with essential financial skills, is thrilled to announce the receipt of a significant grant from Womenade Boston. This generous support will bolster the organization’s Life Launch program, enabling more young women to establish a strong financial foundation and gain the confidence necessary for future success.

Financial education among young women is of utmost importance, yet the statistics surrounding this issue are alarming. According to the Office of Economic Empowerment, less than 20 high schools in Massachusetts currently mandate a full semester of financial literacy education. Furthermore, a mere 12% of girls feel very confident in making financial decisions, despite a striking 90% expressing a strong desire to learn how to better manage their money, according to research conducted by Girl Scouts.

Recognizing the urgent need to bridge this educational gap, Women’s Money Matters has been steadfast in its commitment to empowering young women through its comprehensive financial wellness programs. The Life Launch program, in particular, focuses on equipping participants with vital financial skills and building their confidence to make informed financial decisions.

Thanks to the generous grant from Womenade Boston, Women’s Money Matters can expand the reach and impact of the Life Launch program. The grant will facilitate the development of tailored curriculum materials, recruiting and training volunteer coaches, and workshops designed to empower young women with practical financial knowledge. This financial education as well as the ongoing support will serve as a solid foundation for young women, equipping participants with the tools needed to navigate financial challenges and achieve long-term financial security.

“We extend our heartfelt gratitude to Womenade Boston for their invaluable support of our Life Launch program,” said Danielle Piskadlo, Executive Director at Women’s Money Matters. “This grant will make a tremendous difference in the lives of the young women we serve, enabling them to establish a strong financial foundation and gain the confidence necessary to thrive in their personal financial and professional lives.”

Through ongoing collaboration with partners like Womenade Boston, the organization continues to provide life-changing resources and guidance that inspire financial independence, resilience, and success among young women.

For more information about Women’s Money Matters and its programs, please visit https://womensmoneymatters.org/

About Women’s Money Matters:

Women’s Money Matters, formerly Budget Buddies, builds the financial wellness, confidence, and security of women living on low-incomes through a unique program that combines instructional workshops and personal, one-to-one coaching.

July 10, 2023

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Women’s Money Matters Opinion on Affirmative Action

By ArianaNews, Blogs, Events

As an organization that advocates for women living on low-incomes, their families, and their communities, we are discouraged, disheartened, and disappointed by The Supreme Court’s decision to strike down affirmative action in college admissions. This decision will negatively affect the already marginalized communities we serve, who are primarily Black, Indigenous, and other People of Color (BIPOC) – communities who already lack opportunities for economic mobility and generational wealth building.

Affirmative action is crucial for promoting economic mobility and breaking the cycle of poverty among BIPOC people. Historically, systemic discrimination and inequality have hindered the progress of marginalized communities, particularly people of color. Affirmative action policies aim to level the playing field by providing opportunities and addressing the structural barriers that have perpetuated racial disparities. By increasing access to education, employment, and other resources, affirmative action enables individuals from disadvantaged backgrounds to overcome the obstacles they face and pursue upward mobility.

In the past, by implementing policies that promote diversity and inclusion in educational institutions, affirmative action helped to address historical disadvantages and foster equal access to quality education. This not only enhances the educational experience for all students but also creates pathways for BIPOC people to gain the skills and knowledge necessary for economic success. With improved access to education, individuals from marginalized backgrounds can secure better job opportunities, higher wages, and improved prospects for their future. Thus breaking down barriers and challenging stereotypes, affirmative action can help dismantle the structural inequalities that have hindered the economic progress of BIPOC people, contributing to the overall reduction of poverty rates within these communities.

This decision by the Supreme Court to end affirmative action will end the educational opportunities that have been essential for promoting economic mobility and lifting BIPOC people out of the cycle of poverty. Affirmative action not only benefits individuals but also contributes to a more inclusive and equitable society, where everyone has the chance to thrive and contribute to the nation’s economic growth.

June 30, 2023

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Important Student Loan Updates for Women with Student Loan Debt

By ArianaNews, Blogs, Events, Press Release

This past week President Biden signed a bipartisan debt ceiling agreement that “codified” an end to the payment pause for student loan borrowers. In response to this seismic event, there has been a steady stream of articles about the adverse impact of the resumption of payments: according to a recent survey by Student Debt Crisis, 89% of fully-employed borrowers aren’t “financially secure” enough to restart payments and this event will have a “severe” impact on the economy.

What has been overlooked is that the lives of WOMEN will be disproportionately impacted by this event because WOMEN account for almost 2/3rds of student loan debt!!

Harvard Ed School graphic

“I can promise you that women working together – linked, informed and educated – can bring peace and prosperity to this forsaken planet.” Isabelle Allende

If you are nervous and understandably confused about the resumption of student loan payments, you are not alone. If you are worried about managing this new monthly payment, you are not alone. The good news is that by working together and taking advantage ofthe resources available to borrowers in the WMM community, you can find a workable solution. The key is to become fully informed about your loans and understand the menu of manageable repayment options.

What Women Borrowers Can Do Now:

Log into your account at the federal student aid website: https://studentaid.gov/
Verify that your contact information is accurate, including mailing & email address
Review your loan balances, print out a copy for your records and verify your loan servicer; every borrower is assigned a company (loan servicer)
If you are unemployed, do not ignore your payment; if you are enrolled in an Income Driven Repayment Plan (IDR), you might be eligible for 0$ per month payment
Make sure you are enrolled in a more affordable income-driven repayment plan and use auto-pay; it automatically provides you with a .25% savings on the loan interest rate
Begin to budget for the resumption of federal student loan payments in September

There is no need to panic. “Working together,” WMM can help you to create a manageable and affordable repayment plan.

Robert J. Miller, Advisor for Women’s Money Matters

June 16, 2023

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Women’s Money Matters Welcomes New Board Members

By ArianaNews, Blogs, Events, Press Release

Media Contact: Ariana Contreras

([email protected])

520-456-5965

Women’s Money Matters Welcomes New Board Members

Nina Charnley and Paula Leca

BOSTON – Women’s Money Matters, a non-profit organization that builds the financial wellness, confidence, and security of women living on low-incomes is pleased to announce its two new members of the board of directors, Nina Charnley of Boston, MA and Paula Leca of Dedham, MA.

Danielle Piskadlo, Executive Director of Women’s Money Matters, shares, “We are growing and innovating our financial wellness programs and how we reach more women so this is a pivotal time to bring on two new board members with such amazing qualifications and experience.”

Charnley is a retired bank executive, a financial coach, and Public Co-Board Member at Berkshire Bank. She brings a unique and diverse set of executive leadership, digital transformation, financial, risk and regulated industries, customer experience and consulting expertise to the board room. She has successfully grown, restored and built businesses in every division of Fortune 100 financial services companies serving millions of customers. Nina served as Head of Enterprise Customer Experience for TIAA, a Fortune 100 financial services company with over $1 trillion in assets under management and 5 million customers. As a Senior Managing Director, she was a member of the Executive Leadership Group, a leader for the Digital Transformation Team and Chaired the Customer Experience Board which she created as a governance entity. Over her career in financial services she has run multi- billion dollar businesses, reported to the Board of a large, public regional bank as head of Risk, developed and launched an online bank and several digital products and capabilities. While at Bank of America she created the strategy, infrastructure, template and accountabilities matrix for Bank of America’s Diversity, Equity and Inclusion program.

Leca is Chief Counsel, Specialty Business Units and R&D at Takeda Pharmaceuticals. She joined Takeda in 2015 as associate general counsel and became vice president and head counsel, Oncology in 2019. Previously, Leca held positions at the New York Genome Center, Vertex Pharmaceuticals, Millennium Pharmaceuticals and Goodwin Procter. She earned a Bachelor of Arts degree from Stanford University and a Juris Doctor degree from Harvard Law School. Leca also serves on the board of directors for Pine Street Inn, New England’s largest nonprofit serving people who are homeless with the intention of providing them with permanent housing.

To learn more about Women’s Money Matters or to get involved with the organization, please visit www.womensmoneymatters.org.

May 11, 2023

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News, Blogs, Events

Women’s Money Matters Welcomes A New Board Member

Graduates Testify About the Cliff Effects at Massachusetts State House

Graduates Testify About the Cliff Effects at Massachusetts State House

Graduate Returns as New Board Member: Welcome, Valerie Galvao!

Women’s Money Matters and Second Chance Cars Partner to Provide the Gift of Mobility

About Women’s Money Matters:

About Second Chance Cars:

WMM Testifies for Financial Education

Raising Voices on Pay Equity

Women’s Money Matters Receives Grant from Womenade Boston to Financial Wellness Program

Women’s Money Matters Opinion on Affirmative Action

Important Student Loan Updates for Women with Student Loan Debt

Women’s Money Matters Welcomes New Board Members

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