Women’s Money Matters Graduate Speaks on Cliff Effects Pilot in the Boston Globe
One of Women’s Money Matters’ dedicated graduates and passionate advocates was recently featured in the The Boston Globe! She shared her insights on our upcoming collaborative initiative, the Bridge to Prosperity program – a collaborative effort between Women’s Money Matters, Springfield Works, and partners including Boston Medical Center, Department of Transitional Assistance, Western Mass Economic Development Council, and The Western Massachusetts Food Bank. This effort aims to address the cost-of-living gap for Boston residents with funding from The Boston Foundation.
The Bridge to Prosperity program tackles the “Cliff Effect,” where increased income can lead to the loss of public assistance like food, childcare, and housing support, often leaving families worse off despite earning more. This issue discourages families from accepting raises or promotions as it can leave them worse off financially – impacting their financial stability. The program supports working women and families with cash bridge payments and 1:1 coaching, plus a potential savings bonus for achieving long-term goals.
Ariela Reynoso’s story embodies the resilience and determination that the Bridge to Prosperity program aims to support. Balancing multiple jobs while raising her son, Ariela illustrates the determination and resilience needed to navigate the system. Her experience underscores the impact financial empowerment can have, highlighting the pivotal role of community support and personalized coaching in building success.
Join us in looking forward to Ariela’s journey and the impact the Bridge to Prosperity program can have in making a difference to those on a path to economic security.
Read the full Boston Globe article here.
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/
