Social change work is hard and frustrating and wonderful and terrible; it is also, at times, funny, quirky and just plain fascinating. With this blog we hope to capture all that goes into what we do at Capital Good Fund, and we invite you to join the conversation!

Thursday, February 13, 2014

Financial Coaching Corps Profile - Farouk Niazy

As a first-generation American, Farouk Niazy embodies the spirit of the successful and hardworking American immigrant.  Farouk’s mother was an accountant, and ever since he arrived in this country he has had to apply her financial knowledge to his own life.  Now retired, Mr. Niazy spent his career in the engineering field, eventually moving into program management, where he was involved in the financial aspects of engineering: budgets, financial projections and the like.

 Like so many Financial Coaching Corps members, Farouk is deeply involved in community service; in addition to the Corps, he currently volunteers at the Martin Luther King center and serves as a volunteer tax preparer for the AARP.  What excited him about the Corps was the opportunity to leverage his skills and knowledge so as to empower families in difficult financial conditions.

Having already worked with several clients, Farouk has seen his fair share of heartbreaking stories.  For instance, a young, single mother came to him with a vexing situation: she was employed, but couldn’t afford daycare for her children.  As a result, she was resorting to driving 30 miles in the morning to drop the kids off with her mother, then another 30 miles to her work place, and then the reverse route after her workday. All that driving was costing her over $500 a month and severely straining her finances.  Working together, Farouk helped her identify the options at her disposal and create an action plan.  They ended up deciding that the short-term solution would be for her to move closer to her mother, and then to start saving up for a more reliable and fuel-efficient vehicle.

For Farouk, the importance of the Financial Coaching Corps comes down to this: “So many people just need someone to sit down with them and talk through their financial issues, and the Corps is a way to do that for free.”  He concludes, “I’d love to see as many families as possible participate in the Program.”

Learn more about Treasurer Raimondo's financial empowerment initiatives here:

1 comment:

  1. Having already proved helpful with several customers, Farouk has seen his reasonable proportion of terrible experiences. For example, a young, single mom came to him with a vexing situation: she was employed, but could not manage childcare for her children. As a result, she was relying on generating 30 kilometers in the morning hours to fall the kids off with her mom, then another 30 kilometers to her place of work, and then the opposite path after her day. All that generating was charging her over $500 a month and seriously stressing her financial situation. Working together, Farouk assisted her recognize the options at her convenience and create an strategy. They finished up determining that the short-term solution would be for her to move nearer to her mom, and then to begin saving up for a more efficient and fuel-efficient vehicle.




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