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  First Canadian Social Forum May 19 to 22 in Calgary Alberta - Posted By: Tetteh Kofi Hadjor
I will be presenting the results of a Green Pastures Society research study at the first Canadian Conference on Poverty Alleviation.
http://www.ccsd.ca/home.htm
Titled "Financial Advocacy as a Tool for Poverty Alleviation in Canada", the study explores the use of financial advocacy tools and strategies to help the Poor navigate through the financial labyrinth the face; dealing with their problems and harnessing the opportunities hidden from them due to their circumstances.
The study conducted over 2005 through 2007 involved over 200 participants each year from Shelters, Food Banks and Subsidized Housing in Toronto.
Through Financial Advocacy over $ 50,000 in tax refunds was recovered for participants each year.
The study concludes that "Given its enormous potential and with its demonstrated impact in the United States as a tool for PA, in this era of tight budgets and limited resources, making sure that existing programs and services benefit the Poor is perhaps the best vehicle for poverty alleviation."
An Abstract of my Conference Presentation is as follows:
Financial Advocacy as a tool for Poverty Alleviation in Canada©
Abstract
By
T. Kofi Hadjor, MBA
Founder/Research Director
©Green Pastures Society™
Submitted in response to the Call for Abstracts for the Canadian Social Forum January 20, 2009
ABSTRACT
The pervasiveness of poverty in Canada has mobilized community groups to advocate for sustainable livelihood for the Poor and has made poverty alleviation priority issue with all levels of government.
Financial ability and challenges are major obstacles faced by the Poor. Spending as much as 77 percent of their income on rent/mortgage leaving less than 30% available for other expenses, the poor search for opportunities to increase their income, access to benefits, strategies to build assets, banking services to cash their “pay” check for funds of which will last at best two weeks.
The financial crunch forces many to turn to costly alternatives to get money for basic living expenses including: getting very costly pay day loans to tie them over until their next check, borrowing from pawn shops and selling their tax/GST refunds at deep discount for immediate cash, using very expensive alternative prepaid services including credit cards and pay as you go cell phone.
In connecting with uncoordinated services, the poor face a daunting task: they must navigate a maze (of informal social networks, service providers/government agencies) seeking solution(s) to the problem(s) they face. The poor must navigate a labyrinth of forms required to access financial entitlements. Thus with limited resources (skills, mental health, financial literacy) the poor shoulder on seeking solutions to the financial challenges they face.
Other research findings shed light on missed opportunities and other challenges facing the Poor. These include: SEDI/FCAC 2005, Larry Orton 2007, SEDI/St. Christopher House 2006, Statistics Canada 2005, the Auditor General of Canada 1996, Myriam Fortin 2007, Howe Institute 2003, CMHC, Retirement Planning Institute.
The Green Pastures Society initiative explores the use of Financial Advocacy (FA) as a tool for addressing the financial challenges faced by the Poor. One of the five pillars of sustainable livelihood, FA increases the economic opportunities available to the Poor by improving access to public, private and non‐profit programs and services including opportunities for building financial assets through employment, self‐employment, skills development and taking full advantage of the financial assistance available in social support programs and entitlements offered under income tax/pension legislation.
Case studies were conducted in three low-income communities in Toronto; St. Clair West, Toronto Centre and West.
Participants are residents in a supportive housing establishment, shelters and users of Food Banks. Between 2005 and 2007, over 200 people participated each year (in response to flyers, financial management seminars, income tax clinics and referrals). Participants were interviewed to identify financial challenges they face. Following an assessment of the unrealized financial opportunities they had, financial advocacy services were rendered to them.
The Poor face major financial challenges. With limited financial literacy, they are unable to navigate the labyrinth of services, rules and forms to access their financial entitlements and take advantage of untapped financial opportunities. Many of them experience loss of benefits [CTB, GIS, Pension, SAB, ODSP] and delays in accessing benefits [Refund of Tax/GST/PTC and SA/ODSP Entitlements]. Financial support entitlements and financial literacy have direct effect on sustainable livelihood.
Unlike Legal Advocacy, FA is underdeveloped in Canada with very few service providers offering FA services. Given its enormous potential and with its demonstrated impact in the United States as a tool for PA, in this era of tight budgets and limited resources, making sure that existing programs and services benefit the Poor is perhaps the best vehicle for poverty alleviation.
FA will increase financial literacy and enable the Poor access solutions to their financial challenges. This interactive workshop explores the financial challenges experienced by the Poor and will provide an overview of financial advocacy tools for poverty alleviation. Using a survey of participant experiences in serving the Poor, the workshop will focus on the role their organization can play in developing and implementing FA solutions to help their clients. As a result of this workshop, participants will develop an understanding of the opportunities for FA and the pathways to activating these opportunities.
Green Pastures Society ™
• We connect low-Income persons to financial supports, solutions and economic opportunities.
• We train Service Agencies in implementing Financial Advocacy solutions to help the people they serve.
• We conduct research and develop solutions to help low persons transit poverty into prosperity.
• We help Service Agencies serving the Poor conduct Operations Review to identify and redeploy Hidden and Wasting Assets to fund strategic activities and projects/programs.
• We undertake public lectures to educate and mobilize the general public to help low income communities through Community Service.
Contact Information
http://greenpasturessociety.org
Email greenpasturessociety@yahoo.ca
Blog Address http://zircorn.tigblog.org/
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