Cottage of Income Enhancement
Everyone has the right to pursue and obtain financial stability.
Statistics about the need for income enhancement.
- 16.9% of Ogden families live below the poverty level ($18,400 for a family of four). More than 80% of the heads of these households are employed full time, and in some cases working more than one job. These are indeed the working poor.
- Many public benefits go unused every year by those who qualify simply because they are unaware of their availability. In 2004, IRS data estimated over 80 million dollars of Earned Income Tax Credit went unclaimed by Utahns.
- From 1989 to 2001 credit card debt tripled in the United States, and 1 out of 3 individuals use credit cards to pay for basic needs; ie, food, clothing, rent and utilities, making it impossible to get ahead.
Mission
The Cottage of Income Enhancement is dedicated to assisting individuals on the path to prosperity by providing finance programs geared around increasing and managing income.
Program Outline
Vita
- Partnering with the IRS we will offer Volunteer Income Tax Assistance (VITA) programs to help increase the number of Earned Income Tax and Child Tax Credits claimed.
Debt Reduction
- We will enhance income by offering a program assisting the individual to a better understanding of debt management. As debt is consolidated or eliminated families will free up monthly cash flow that can be used for constructive purposes, such as education, technical training and asset building.
Budget
- We teach families basic budgeting principles (Stretch Your Bucks…Without Breaking Your Back) and help develop a budget that best suits their needs. This will help to organize and prioritize present and future spending and give them a visual map of how they will be able to obtain their individual and family goals..
Resources
