Significant Relationships
Participants who report having a permanent adult in their life are more likely to be financially capable.
The Jim Casey Youth Opportunities Initiative has 13 years under its belt improving the pocketbooks of foster youth with its Opportunity Passport™ – a matched savings account strategy helping kids exiting foster care become financially literate and fiscally stable. This brief shows the impact of the Opportunity Passport over the years.
Looking to apply best practices to a distinct population, the Jim Casey Initiative designed the Opportunity Passport™ to help foster youth between the ages of 14 and 25 learn about money. Crafted after the Individual Development Account (IDA), it sports a matched savings program that helps participants learn financial management, obtain experience with the mainstream banking system and save money for assets. And, as this brief shows, 13 years later the concept is still winning converts and creating assets for these youth.