Sock Away $400 For Rainy Day Under New Brooklyn Program

The new #BrooklynSaves program aims to help 1,000 residents save a combined $40,000 in vital emergency funds.

By Matt Troutman, Patch Staff

BEDFORD-STUYVESANT, BROOKLYN — All-too-often a financial rainy day comes and Brooklynites don’t have enough in the bank. A new borough-wide campaign hopes to give them shelter from those storms.
Borough President Eric Adams and Bedford-Stuyvesant Restoration Corporation on Wednesday unveiled #BrooklynSaves, a series of efforts to help residents build up emergency savings. They aim to help 1,000 Brooklynites save a combined $40,000 through a combination of direct incentives and resources to help disadvantaged communities plan their finances.

“We must make financial literacy the norm, not the exception, so that all communities can participate in our economy on an equal footing,” Adams said in a release.

Nearly one in two Americans, not just Brooklynites, don’t have access to $400 without borrowing or selling an asset, according to the organizers.

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