ARE YOU READY FOR MONEY MENTORS?
Thinking about participating in the Money Mentors program? This page will help you decide if now is the right time to start your financial journey with a Money Mentors coach.
Money Mentor Participant Stories
“I knew I was ready for the program once I graduated from college…”
“I knew I was ready for the program once I graduated from college and landed my first job. After four years of juggling part-time gigs and odd jobs as a student, I finally had a steady income, and it felt like the perfect time to take control of my financial future. I also felt like I had the time and mental space to fully engage in the program. Although I wasn’t in a financial crisis like housing instability, it still FELT like a personal crisis that I wasn’t saving or managing my money when I have such a large amount of student debt. That’s why I joined Money Mentors—to learn how to budget, save, and plan for a better financial future.”
“I finally felt like I had the foundation I needed to move forward, but the weight of my credit card debt still held me back.”
“We finally got an apartment of our own instead of bouncing from place to place and living with family members while I was between jobs. It felt like a huge relief to have a full time job again and stable housing for me and my two kids. At that point, I felt ready to take control of our financial future.
I finally felt like I had the foundation I needed to move forward, but the weight of my credit card debt still held me back. I knew that with some structure and guidance, I was making enough income to cover our basic needs AND pay down debt. That’s why I decided to join Money Mentors.”
“I was no longer weighed down by the constant worry of medical debt. I could finally focus on rebuilding.”
“I faced bankruptcy after years of overwhelming medical bills and financial strain. While it was a challenging process, I was grateful for the chance to have my debts discharged and get a fresh start. I had my basic needs met and I was no longer weighed down by the constant worry of medical debt. I could finally focus on rebuilding.
I knew I couldn’t go through this recovery process alone. I applied for the free Money Mentors program at Prepare + Prosper, where I was then paired with a financial coach. Meeting with my coach in person once a month provided not only guidance but also the accountability I needed to build the financial habits I wanted. Attending the peer sessions also made a huge difference in staying on track.”
Readiness Checklist
✅ The Money Mentors program might be a good fit if you:
- Can regularly cover your basic expenses each month, including housing, transportation, food, and child care.
- Are ready to make changes in your financial life and work toward a financial goal.
- Feel comfortable talking with a coach about your thoughts and feelings regarding your finances.
- Will consistently meet with your coach each month and communicate with them to schedule or reschedule meetings.
❌ The Money Mentors program might not be a good fit if you:
- Are regularly unable to make ends meet.
- Are currently experiencing a financial crisis (such as active bankruptcy, foreclosure, housing instability, or food insecurity).
- Have a rep payee or are otherwise unable to make decisions about your spending.
- Are looking for a quick solution to financial problems or just financial education or advice.
- Cannot regularly keep appointments with a coach or reliably respond to communication.
Resources:
If Money Mentors is not the right fit at the moment, here are some resources that may better fit your needs (and help you get ready for Money Mentors in the future).
- 211 United Way: visit the website or call 211 to get help finding essential community services including housing, paying bills, food support, caregiving, mental health, healthcare, substance use, immigrant challenges, etc.
- Bridge to Benefits: BtB offers a screening tool to find out what benefits you may be eligible for.
- Community Action Agencies: Find your local agency for support with employment, food, housing, health & wellbeing, transportation, and more (each county has a different set of programs).
- MN Food Helpline: Visit their website or call 1-888-711-1151 to see if you qualify for SNAP or to learn more about food shelves, free meals, farmers’ markets, or other resources in your area.
- Walk In Counseling Center: Offers mental health support.
- LawHelpMN: Offers free legal help for low-income residents.
- LSS Financial Counseling: Meet with a financial counselor to get support with debt management, credit counseling, foreclosure prevention, or homeownership counseling.
- Daily Work: for employment support visit their website or call (651) 204-3043.