Avivo Teaches Participants How to Budget
One in three Americans prepares a monthly budget and follows it, according to Gallup. People with lower incomes tend to pay a larger percentage of their monthly income toward necessities like housing and utilities.
“Our clients often work on limited incomes,” Nicole says, “So, we’re providing real-life scenarios based on how much ‘money’ each client receives.”
Nicole Mukanda, a manager on Avivo’s housing program for formerly homeless adults, shares they’re giving a creative twist to teaching participants how to budget: a one-day shopping event, using Monopoly money, for program participants.
![](https://avivomn.b-cdn.net/wp-content/uploads/2017/12/FinancialLiteracyShopping_small-20_1200x800.jpg)
“Our clients often work on limited incomes,” Nicole says, “So, we’re providing real-life scenarios based on how much ‘money’ each client receives.”
![](https://avivomn.b-cdn.net/wp-content/uploads/2017/12/FinancialLiteracyShopping_small-17_1200x800.jpg)
Participants are given Monopoly money to pay rent, pay utilities, and buy items they need or want with a store divided by “wants” and “needs.” Items in the “need” category include hygiene items, cleaning supplies, and socks, while the “want” category consists of games, movies, and kitchen items.
![](https://avivomn.b-cdn.net/wp-content/uploads/2017/12/FinancialLiteracyShopping_small-33_799x1200.jpg)
Nicole’s dream is to see this type of event translate into real-life budgeting for their program participants. Staff hope to host similar events for program participants several times per year.