Springfield WORKS is partnering with the Federal Reserve Bank of Atlanta to test the effectiveness of their cliff effects financial planning tools for use in a personal finance counseling application. The program currently includes five participant organizations that are testing the tools with their clients who are part of the low-income high-needs population in Massachusetts. These tools were developed to help low income individuals and families to plan and navigate the transition from using public benefits programs to full financial self-sufficiency. This is often a difficult transition that can prevent people from accepting better employment and leave low-income employees in a cycle of poverty.

The aim of the program is to provide feedback to the Federal Reserve about the usefulness of the financial planning tools. There are five different financial planning tools available that we are working with which each correspond to the specific needs of different clientele. You can use the tools by clicking the links below. The pilot program is an opportunity for Springfield WORKS to participate in the development of tools that could be used on the national level to help people all across the country with advocacy and counseling work. There have been similar pilot projects in other states including Maine, Florida, Colorado, and Connecticut.