Moving from Debt to Assets Program

This short film about Class 42 of Moving from Debt to Assets was produced by Noha Elgaali, a graduate of that class, and edited by Zulhay Garcia, a graduate of Class 39.

In 2005 GBIO launched Moving from Debt to Assets, a powerful financial education program that has helped more than 800 families to build strong financial futures. The idea for this program began in 2004, when GBIO decided to hold house meetings and hear what issues people were concerned about. Over and over again, GBIO leaders heard, from city and suburb, from low-income and middle-income people: “I'm drowning in debt!” “I just can't seem to save anything!” “My credit cards are just out of control!” In response, GBIO designed and launched the Moving from Debt to Assets program.

Moving from Debt to Assets has become a comprehensive, outcomes-driven, behavior changing financial education and empowerment program that has built a strong track record over the past 8 years by making it possible for its 875 graduates to take control of their finances and achieve their financial goals. It works through the institutions and organizations that are a part of the fabric of people’s lives – primarily churches, mosques, and synagogues. It targets low-income, under-served communities, frequently ones that no other financial education program is serving, and is the only financial education program in the state of Massachusetts that operates in 6 languages, including in Haitian Creole, Spanish, and Cape Verdean Creole. 

Moving from Debt to Assets has four components, including:

  1. A 6-session course
  2. A peer-led support group
  3. Individual financial counseling sessions
  4. A cash grant

See here for accomplishments of Moving from Debt to Assets, and here for press coverage [link to press page].

GBIO is proud to announce that in January 2013, Moving from Debt to Assets launched its own non-profit corporation, Moving from Debt to Assets, Inc.