Funding Her Future: Economic EmpowHERment Accelerator

Youth economic advancement

Central LA East LA South LA West LA

Pilot or new project, program, or initiative (testing or implementing a new idea)

The UN estimates it will take 300 years to achieve gender equity, as the economic participation gap is only 60% closed. The gap is wider for systems-impacted women who are disproportionately women of color and/or navigating poverty. The causes of economic exclusion are multi-faceted: girls navigating foster care or housing insecurity often lack IDs & documents necessary for banking; formerly incarcerated unemployment rates are 27%; & lack of disposable income makes saving & investing impossible, increasing reliance on payday loans while tanking credit & increasing debt. These barriers lead to poor health, social isolation, higher likelihood of further systems-involvement, intergenerational poverty, & decreased political participation. Financial education must be addressed, as only 38% of Gen Z women are financially literate, but it cannot on its own solve for historical systems of exclusion, inequitable distribution of resources, or the trauma & harm that occur as a result.

To remove these systemic barriers, we comprehensively support systems-impaceed young women (ages 18-26) & prioritize economic empowerment over basic literacy. Over 6 months, 30 women (2 cohorts of 15) will work with Paco, partners & each other to achieve economic mobility through community-driven, evidence-based strategies:
Experiential learning fosters real-world application of skills, so Paco Coaches support participants to obtain necessary documents, open bank accounts, grow credit & reduce debt
Expanded networks increase social capital, so we partner with financial institutions & local businesses to cultivate proficiency in advanced financial skills (saving, retirement, investing), ensuring traditionally marginalized women have access to financial stability and wealth-building
Direct cash assistance improves stability & reduces reliance on payday loans, so each participant receives $1000 & personalized financial advising to build savings, invest (with 1:1 matches from partners at Northwestern Mutual) & work toward future goals (i.e. reducing debt; training for career advancement)
1/3 of women living in poverty screen positive for PTSD, so we connect participants to mental health resources & hold community circles to engage in dialogue, reflection, & collective learning about the history of financial exclusion, gendered representation of money/finances in the media, money mindsets that prevent growth & how policies promote or discourage equitable economic participation.

Our work will help position LA as a leader in innovative approaches to economic empowerment, reimagining financial education & reshaping our home into one where systems-impacted young women are not just surviving but are shaping the economy & leading systemic change. Our participants will hold living-wage jobs, build long-term assets & access wealth-generating tools historically denied them. Because they are free from oppressive financial burdens, they are empowered to pursue their dreams & rise as visible leaders with cross-sector influence. Gender parity is proven to increase community wealth, so when the women of LA thrive, so do their communities who likewise benefit from increased financial stability, intergenerational wealth & decreased rates of system involvement. By investing in young women's financial power, leadership, & well-being, LA will become a model of economic justice that is community-driven, trauma-informed & led by those who were traditionally left behind.