According to the National Adult Literacy Survey, 85% of all of juveniles who interface with the juvenile court system are functionally “low literate” (financial literacy, digital literacy, reading literacy and health literacy). There is a lack of mental support and economic empowerment given to current and formerly incarcerated men. As a result, Black men are faced with damaged identity and recidivism.
Within 3 years of release, over two-thirds 67.8% of released prisoners are rearrested.
Within 5 years of release, about three quarters 76.6% of released prisoners were rearrested.
Of those prisoners who were rearrested, more than half 56.7% were arrested by the end of the first year
Financial Education “In-Prison”
Youth Programs
Empify is on a journey to provide both economic empowerment and mental support to individuals who are currently incarcerated.
In October 2018, the journey to financially educate juvenile delinquents began in New York City for the teenagers that were once held on Riker’s Island. As a result of the new “Save the Age” law passed in 2018, the incarcerated teenagers were moved from Riker’s Islands as they were no longer allowed to be in prison with adults. During the transition, hundreds of young men and women were learning how to invest and manage money at the Horizon Juvenile Detention Center. Since then, Empify has expanded its partnerships, and they have impacted the lives of over 250 juvenile delinquents with its financial programs.
Our financial education programs for the incarcerated youth, ultimately, develop their minds. We found that our students’ belief systems are centered around what that have seen and experienced. However, when they are challenged and engaged academically, they can truly see what is possible! By utilizing the constructivist and experiential learning theory during our sessions, our program experience creates an invitation for a myriad of different backgrounds to come together, observe, and analyze information. Each session instills personal relevance in academic activities that make connections between what each individual feels. This allows our students to connect with our programs on an emotional and mental level.
- How to invest in the stock market
- What accounts are needed to better manage and save money
- What accounts to use to invest
- Spending vs. Investing and why it’s important
- How to properly begin building wealth with where you are
- How to build a wealthy mindset
- Employee vs. Entrepreneur
- How to Understand Taxes
And more…!
Financial Education Programs for Formerly Incarcerated Individuals
Empify: I Am Home & Here to Stay
Within the prison system, there are intervention programs to help offenders build skills for long-term success. However, there is not a strong emphasis placed on financial education. If Americans with college degrees and high-paying jobs are experiencing stress due to personal finance issues, how can we expect offenders, coming out of prison, to cope?
Financial Education Can Prevent Recidivism
The launch of this program started with both Empify and Chase Bank working together in 2019 to help fight recidivism in the City of Philadelphia. Together, the two organizations joined forces by transforming the traditionalmodel of education and showing formerly incarcerated men and women how they can build wealth with both their minds and bank accounts.
- How to Invest in the Stock Market as a Beginner
- How to Invest in Real Estate with Less Than $200
- How to Manage Money & Build a Business
Unfortunately, America does not make it easy for offenders to financially progress, so Empify has created programs that provide each attendee with the tools, knowledge, and resources needed to start. Each session is geared to meet each individual where they are while helping them build a financial roadmap. We firmly believe that it is one thing to make money, but is another thing to sustain and grow it.
By partnering with Chase Bank, organizations, and individuals, Empify will help those impacted by the prison system gain the belief and knowledge needed to financially build wealth.
