Over a 1- to 18-month period, we build authentic personal relationships with your willing employees. AOF creates a judgment-free zone, which encourages your employees to open up and share their stories.
As we learn your employees’ stories we’re able to help them:
Understand where their money goes
Form a realistic budget that they can live by
Learn to talk to their creditors (many are willing to negotiate!)
Evaluate options to refinance their high-interest debt
Lower their financial stress and reach their financial goals
The result is changed lives!
FINANCIAL FREEDOM FUND
Predatory debt is a crushing reality for many of our clients. A large portion of their monthly income is going to pay interest on loans with rates up to 400%, leaving them unable to afford basic necessities.
We believe in the long-term value of “teaching a person to fish.” We also see that, sometimes, a person needs someone to give them a fish while they’re still learning.
The Financial Freedom Fund fills that role. It works like this:
AOF deposits funds at the client’s bank or credit union
The bank/credit union grants the client a low-rate loan secured by AOF’s deposit. Underwriting is limited because the loan is secured by cash.
The loan proceeds are used to pay off predatory debt
The client then has extra monthly cash flow available for necessities.
*The Financial Freedom Fund is available only to clients who have demonstrated they are committed to improving their financial health and are engaged in the PCFC process.
Eligibility to participate in the Financial Freedom Fund is not determined based on race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, age, military service status, source of income, or any other characteristic prohibited by law.
Many experience heightened financial stress as the result of a bad car deal. They bought too much car, too little car, or a bad car. Their loan is too expensive or extends too long, meaning they’ll never build equity.
To get the employee’s out of bad car deals, AOF offers its Ride Smart program.
How does it work?
AOF evaluates the employee’s current vehicle and loan.
AOF helps the employee research vehicles and loans to find a better fit.
AOF then advises the employee on how to switch from your old vehicle and loan into the new one.
*Ride Smart is available to clients engaged in PCFC.
These aren’t your traditional financial education events. Traditional workshops are fact-centered. They try to push lots of facts into your employees’ head and then push them out of the nest to fly solo.
The problem is that study after study shows that FINANCIAL EDUCATION BY ITSELF DOESN’T WORK! AOF is committed to real impact, and we’re not going to waste your time with something that doesn’t work. So we take a different approach. Rather than being fact-centered, AOF’s Call to Action Workshops are people-centered.
Yes, we provide facts about budgeting, the importance of savings, etc. But the focus is on how these things work in real life.
AOF presenters share their own stories and engage your employees to share theirs. This turns cold facts into relatable wisdom.
The session then ends with a call to your employees to take the next step, namely, engage in the People-Centered Financial Coaching process. Unlike traditional financial education, AOF does not turn your employees loose to figure it out on their own. We walk with them through all the inevitable ups and downs until their financial stress is down, their goals are met, and your bottom line is strengthened!