Immigrants to the United States have to learn all kinds of new things, including a new financial system. Some come from modest backgrounds, while others prospered in their native country and then were forced to leave everything behind. As part of a job readiness monthly training, diocesan Catholic Charities Migration and Refugee Services provides financial literacy training through Britepaths, a local nonprofit that aims to build resilience through financial empowerment and workforce development.
Sarah Baker, a senior financial planner, is one of the Britepaths volunteers who leads trainings for Catholic Charities clients. “I fell in love with connecting the dots of people and money and I’ve always worked with wealthy individuals. But I’ve felt this pull during my entire career to also help people who could never afford our fees,” she said.
Baker and other volunteers teach about money management and budgeting, the U.S. banking system, taxes and building credit. Since 2017, Britepaths has provided training to more than 1,500 MRS newcomers. Sometimes MRS staffers translate for non-English speaking clients, essentially facilitating trainings in Pashto, Dari, Spanish and Ukrainian. Britepaths also has held money management training for clients in Catholic Charities youth programs. For those who need more education and assistance, free one-on-one financial coaching is available.
“A lot of them are overwhelmed. It’s so much information and it’s difficult,” said Baker. “The best reaction is peace of mind, where they feel safe and comfortable and can work on a healthy relationship with money. Overall, I’ve found that they’re interested in learning these things and wanting to make a better life for themselves, which is really inspiring.”
Oftentimes, Baker is touched by their financial priorities. “I’ve found that the (newcomers) don’t have much, but they want to save and to give to their family,” she said. “There (are) certain high levels of wealth where you can give, and it’s not impacting your life, but they’re in poverty and practicing generosity. It’s its own ministry to me because I see people who have so much, and I feel poor, and then I see these folks, and I feel rich.”
