Women’s Money Matters is advancing a multi-year pilot program in collaboration with Springfield WORKS to address the pervasive cliff effect that traps many families in cycles of poverty and prevents them from building generational wealth.
With a $500,000 philanthropic grant from JPMorganChase, the Bridge to Prosperity Cliff Effect Pilot will empower families receiving public assistance benefits to overcome financial challenges and achieve sustainable independence. This program will test the impact of supplemental financial support, combined with financial and career coaching to help families navigate the transition from public benefits assistance to sustained economic mobility and prosperity.
The Bridge to Prosperity Cliff Effect Pilot is a state-wide project that seeks to work with up to 100 low-income working families who are receiving public assistance and live in greater Boston, Worcester and Springfield. In addition to supporting participants and their families on the road to economic financial stability, the pilot also aims to demonstrate how public and private investments can help households successfully transition from public assistance to permanent employment that meets their financial needs across the US…