“Established by the U.S. Department of Housing and Urban Development in 1990, the program allows a housing provider to redirect the increased rental payment into a savings account for the family. Compass adds to the benefit by providing personalized financial coaching to help participants manage debt, build savings and plan for the future.
‘We have a lot of folks in our public benefits social safety net who are making rational choices inside what is actually a very irrational system,’ Stuart said. ‘We have a system that, in many ways, by design, punishes people or discourages people from doing the things that we actually know are going to help them move to greater financial stability over time.'”