Philadelphia will receive $3.3 million dollars to improve its citizens’ financial literacy.
The funding comes from Bloomberg Philanthropies, the charitable foundation of New York Mayor Michael Bloomberg, and the Living City CFE funds.
The counseling will come from financial counseling non-profit Clarifi, formerly Consumer Credit Counseling Service of Delaware Valley.
The organization will partner with city government to take advantage of its many points of contact with constituents.
“If you’re having difficulties, […] and you’re talking to someone about your water bill and how to pay it back,” explained Patty Hasson, president and executive director of Clarifi, “they could refer them over, and not only would we help them think about how they could set up their payment plan for that, but looking at their overall financial picture.”
The goal would be to help clients reduce debt and accumulate savings. The program aims to reach 9,000 clients over 3 years.