HHS Blog Post: Building Your Own Safety Net: Developing Wealth, Financial Independence, and Social Capital in High-Poverty Communities

This blog post from the U.S. Department of Health and Human Services is part of the "Self-Sufficiency Series: Solutions from the Field" and highlights the Building Wealth and Health Network for the work they do to build social and financial capital of TANF recipients. Based on research that shows the beneficial effects of high social and monetary capital, the Network provides group financial empowerment classes and other resources with a specific focus on those overcoming violence or adversity in their past. There is also a peer support component that creates connections among participants, which increases social capital and helps members feel engaged and self-sufficient and makes the program sustainable. Randomized control trial results suggest that this program increased employment, earnings, and self-sufficiency while decreasing depression and economic hardship among members.