According to the Bureau of Labor Statistics, the Consumer Price Index rose 9.1% in July 2022 from a year ago. Financial stress can trigger feelings of shame, anger and depression, affecting a person’s overall mental and physical health. To help families in Hawaii, Kaiser Permanente has awarded a $50,000 grant to Goodwill Hawaii aimed at improving financial literacy and the corresponding health inequities of individuals with low incomes.
The grant is part of a $2.5 million grant package that Kaiser Permanente awarded to Change Machine, an organization that helps build financial security for people in low-income communities. Through the grant, Change Machine will provide its financial coaching platform and training to 190 social service organizations across 8 states and the District of Columbia, including Goodwill Hawaii, and aims to reach 100,000 people annually.
Goodwill Hawaii will use the Change Machine platform to help people and families manage financial matters such as loans and debt, taxes, budgeting, saving and credit building. The program also helps build capacity to ensure the stability of financial coaching programs at Goodwill Hawaii. In addition, Goodwill Hawaii will receive access to tools that support collaboration between financial practitioners and community leaders.
“Debt, bad credit and financial insecurity can affect your physical and mental health,” said Greg Christian, Hawaii market president, Kaiser Foundation Health Plan and Hospitals. “This grant will provide Hawaii residents access to tools and services to improve financial literacy and help reduce economic and health disparities in our community.”