Financial Tools for Mentors approaches financial decisions as a matter of personal choice. No one can be forced to make a particular financial decision, even if it seems to be in their best interest. The goal of FTM is simply to give participants the knowledge and resources to understand the consequences of their choices.

Revolving around four key topic areas (credit and loans; money management; financial services; and financial goals and planning), FTM is based on the premise that people need some level of knowledge in each of these areas in order to make informed financial decisions.

Minimum competencies in each topic area were established through conversations with financial experts (including representatives from banks, a credit reporting agency, and social service providers). These serve as the framework for the assessment process and other mentoring tools.

The program 1) assesses a client's current level of financial knowledge, financial situation, and habits; 2) helps clients identify personal or family financial goals; and 3) creates individual action plans to fill knowledge gaps and help clients achieve their financial goals. FTM complements financial literacy services, classes and materials often available online or in local communities.

Port Jobs' Financial Mentoring Program developed out of the Working Wheels car ownership program (launched by Port Jobs and Fremont Public Association in 2002). Port Jobs received a grant from the National Endowment for Financial Education (NEFE) to develop the FMP model in 2003, and contracted with Pacific Associates to pilot the FMP with Working Wheels clients. (Learn more.)

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