The Asheville Independent Restaurant (AIR) project has successfully completed its first cohort of a groundbreaking financial empowerment program designed to equip Asheville restaurant workers with essential financial planning skills, helping them take control of their finances and build a secure future. This initiative was launched to address the unique challenges faced by service industry employees, many of whom rely on minimum wage and tips.
The Best Year Yet Foundation contributed significantly to the success of the program, donating intellectual property, materials, and ongoing support for the workshops. The Best Year Yet methodology was central to the program, helping Ashville restaurant workers overcome mindset barriers, stay focused on their goals, and track their financial progress over time.
A key feature of the program was a savings challenge that provided a match on savings for those who managed to set aside $1,000 by the end of the workshop series. This match, sponsored by a local bank, enabled many participants to double their savings, giving them a solid foundation for future financial stability.
Program Results
Annice Brown, Best Year Yet Partner and trained facilitator, was instrumental in launching and leading the program for Asheville restaurant workers. Reflecting on the cohort’s success, Brown shared, “I’m so proud of the 24 restaurant employees who spent six months learning about savings, budgeting, reducing debt, improving credit scores, and so much more. They all received the matched savings, and we have The Community Foundation, Dogwood Health Trust, Eblen Charities, and the Best Year Yet Foundation to thank for sponsoring this innovative program.”
The Financial Empowerment Program for Asheville restaurant workers was a true community effort, supported by a team of dedicated instructors and volunteers, with support from many local restaurant owners who were committed to investing in their employees’ financial literacy. “This program is about empowering people to take charge of their finances,” Brown emphasized. “It was incredible to witness the participants’ growth over six months.”
Next Steps
The success of the first cohort has already led to plans for a second session in January 2025, which is already fully booked. The overwhelming interest underscores the critical need for this kind of support in the Asheville restaurant worker industry, where many workers struggle to build financial safety nets.
To celebrate the achievements of the first cohort, AIR will host a Financial Empowerment Pilot Program Celebration on August 12th, 2024, in Asheville, NC. Twenty-five employees from AIR member restaurants will receive certificates of completion and their matched savings at the event. The Best Year Yet Foundation will be recognized alongside other key sponsors for their essential support of the program.
The ongoing partnership between AIR and the Best Year Yet Foundation marks a significant step forward in providing Asheville restaurant workers with the financial skills they need to succeed and empowering them to secure their futures.
For more information on AIR Asheville:
AIR Asheville: Asheville Independent Restaurant Assoc
To learn more about the work of the Best Year Yet Foundation:
Best Year Yet Foundation – InteraWorks
Do you have any questions about these programs? Let’s chat:
robin.doss@interaworks.com
About InteraWorks
InteraWorks is a global learning company on a mission to elevate the human experience at work. Specializing in professional development and performance enablement, our integrated learning framework and online tools generate immediate and sustainable breakthroughs in performance. Through decades of working at all levels in enterprise companies across many industries, we’ve built a reputation for helping people and organizations harness their focus, mindset, talent and energy to produce results that matter most.