Financial Literacy

Cottage of Financial Literacy

Understanding basic financial principles is necessary in progressing towards self-sufficiency.

Statistics about the need for financial literacy training

  • Since 2006 the national savings rate for the country has averaged around 5%, which is only half the recommended rate of 10%.


  • Many individuals spend as much as 2 ½ – 3% of their income every year in check cashing fees alone when these transactions occur through financial institutions outside the mainstream. By educating families about credit and banking services, and assisting them in opening their own checking and/or savings accounts they will eliminate these unnecessary fees and be one step closer towards saving and obtaining financial stability.
  • Priority spending is a key component for understanding life in the financial mainstream. Individuals can find themselves unable to get ahead, or even catch-up without knowledge of basic financial principles. Through learning these concepts individuals will begin to take control of their finances rather than the other way around.


The Cottage of Financial Literacy is dedicated to assisting individuals on the path to prosperity by teaching basic financial principles of effective spending and saving strategies as well as helping them become active members of the financial mainstream.

Current Classes

 Program Outline

  • Banking – In partnership with local financial institutions we will help individuals open their own checking and/or savings accounts and understand core responsibilities associated with their operation in order to maximize use of financial resources.
  • Effective Spending – Partnering with local nonprofit organizations we offer classes to teach budgeting principles that will help to organize and prioritize day to day and monthly expenses while also focusing on areas in spending that will be most advantageous for present and future purchases/investments.
  • Saving Strategies – Partnering with Utah Individual Development Account Network (UIDAN) we will offer an Individual Development Account (IDA) program as a vehicle to assist in the process of saving money by offering families appropriate incentives to do so.