Financial Literacy Takes 'Saving' to a New Level When It Comes to Domestic Violence

NORTHBROOK, Ill., April 1 /PRNewswire/ -- Research shows that domestic violence survivors are more likely to leave abusive relationships if they are financially independent.(1) In light of this, The Allstate Foundation is recognizing National Financial Literacy Month this April by offering free financial literacy resources to help domestic violence survivors live safer and more secure lives.

A survivor's decision to stay in an abusive situation is based more on concerns about economic dependency rather than their physical safety, according to available research.(1) Often domestic violence victims suffer economic abuse, which is a control tactic used by abusers to block access to money, prohibit victims from getting or keeping jobs, destroying victims' credit and other tactics that limit their ability to break free and survive financially.

"Programs focused on teaching women financial skills positively impact domestic violence survivors' lives," said Michele Coleman Mayes, Allstate Senior Vice President and General Counsel. "As a leading financial services provider, we can apply the same principles we share with customers to empower survivors to become financially independent."

For the past three years, The Allstate Foundation, in partnership with the National Network to End Domestic Violence, has been doing just that through its Moving Ahead Through Financial Management curriculum, a comprehensive financial educational toolkit focused on building and enhancing financial skills. Rutgers University Center on Violence Against Women and Children recently evaluated The Allstate Foundation program to determine its impact on domestic violence survivors. Of the survivors who used the curriculum, this university research showed:

• 94% were no longer living with their abusive partner
• 88% set financial goals for themselves
• 76% created a budget
• 71% began paying off their debt

"We found that survivors who used The Allstate Foundation's Moving Ahead curriculum not only reported increases in economic empowerment, economic self-sufficiency and financial literacy, but they also had lower levels of post-traumatic stress and depression," said Judy Postmus, Assistant Professor and Director of Rutgers University Center on Violence Against Women and Children. "The Moving Ahead curriculum provides financial tools for survivors that go beyond crisis prevention and help survivors learn to start a new life free from abuse."

Economic Abuse Education Essential in Financial Literacy and Combating Domestic Violence

The Moving Ahead curriculum features information to help navigate basic to complex financial issues, from understanding financial abuse and financial fundamentals to building a strong financial base. Also available in free hard copy, Spanish-language or DVD formats, the curriculum identifies community resources to help survivors enhance their skills, find jobs, build careers and save money for education, to start a business or to buy a home.

The Allstate Foundation has additional resources available at www.ClickToEmpower.org where visitors can learn more about domestic violence and how they can help someone in need:

• Take an interactive "What kind of gal pal are you?" quiz to find out their personality style and how to use it to combat domestic violence
• Learn about the signs of economic abuse and tips to help those in need
• Download the free Moving Ahead Through Financial Management curriculum and view the interactive financial literacy e-learning modules

Designed for survivors from all backgrounds and earning powers, the Moving Ahead curriculum provides key financial lessons on budgeting, saving, building credit and managing debt. A recent Allstate-National Journal Heartland Monitor Poll found that 81% of Americans indicated that they need help to better manage their finances. These statistics underscore the need for all Americans, not just domestic violence survivors, to learn about financial literacy and economic abuse.

About The Allstate Foundation

Established in 1952, The Allstate Foundation is an independent, charitable organization made possible by subsidiaries of The Allstate Corporation. Allstate and The Allstate Foundation sponsor community initiatives to promote safe and vital communities; tolerance, inclusion, and diversity; and economic empowerment. The Allstate Foundation believes in the financial potential of every individual and in helping America's families achieve their American dream.

About the Economics Against Abuse Program

The Allstate Foundation Economics Against Abuse Program helps domestic violence survivors build their financial independence to get free and stay free from abuse. Seeing a significant gap in resources designed to assist survivors with economic challenges, The Allstate Foundation took action and partnered with the National Network to End Domestic Violence to create this comprehensive program. Economics Against Abuse provides resources, funds direct services and spreads the word on how to empower those touched by domestic and economic abuse. For more information and to find out how to help, visit www.ClickToEmpower.org.

About the Rutgers University Evaluation

The Rutgers University Center on Violence Against Women & Children evaluated the process and impact of the implementation of The Allstate Foundation Moving Ahead through Financial Management curriculum. The evaluation included three rounds of data collection from May 2008 to August 2009 in which information was gathered during in-person interviews with survivors to measure improvements in economic self-sufficiency, mental health and quality of life levels, use of the curriculum, and their ability to obtain community resources. The analysis also included careful review of policies and procedures for the curriculum, followed by interviews with key stakeholders including administrators, supervisors, and advocates at 11 different sites around the country.

(1) "Integrating Asset-Building Strategies into Domestic Violence Advocacy," Clearinghouse REVIEW Journal of Poverty Law and Policy, July-August 2009

SOURCE The Allstate Foundation