Many immigrants are surprised at how quickly the money disappears. They may be making much more than they ever have, but it’s also vanishing much more quickly. You can help them learn to budget, save, and avoid big debts.
You can take them shopping to economical places. Show them the thrift shops. Help them learn how to shop for bargains and sales.
Teach them how to prepare a budget and help them stick to it.
You can help them understand the dangers of credit card debt. You can also show them how to build a good credit history. Repaying their refugee travel loan is an important part of this
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Check the internet to locate free help for doing their taxes.
Help them find the best way to pay their bills. You might help them find a place that charges the lowest fees for sending money orders.
Some may need your encouragement to use a bank. If they have had a previously bad experiences, you may be able to help them see the advantages of bank services.