To celebrate our partnership with Philly Joy Bank, a pilot program that’s supporting 250 pregnant Philadelphians through a guaranteed monthly income and no-cost services like Clarifi’s financial counseling, we asked one of our counselors about the importance of financial health for new parents.

Clarifi is proudly partnering with Philly Joy Bank, a guaranteed income pilot that launched this summer (2024) with the goal of reducing racial disparities in infant mortality in Philadelphia, where Black infants are nearly three times as likely to die in their first year of life than white infants.

“Alleviating financial stress during pregnancy can have real and positive impacts on birth outcomes. And the way to alleviate financial stress is actually pretty simple – you give people cash,” said Dr. Stacey Kallem, director of the Philadelphia Division of Maternal, Child, and Family Health, in an interview with WHYY.

Here’s a simple formula to show why we love partnering with Philly Joy Bank:

No-strings-attached income + Free financial counseling = Long-term financial resilience.

To learn more about Philly Joy Bank, we talked to Brittany Clark, Clarifi’s Lead Counselor for the pilot (she’s also a new mom). She’s leading the team of Clarifi counselors offering financial sessions for participating parents.

Taylor Goebel, Marketing and Communication Manager, Clarifi: I was so excited to hear we were partnering with Philly Joy Bank! What was your reaction?

Brittany Clark, Counseling Team Lead at Clarifi: It made my heart smile. I thought, This is amazing. This is why I do what I do every single day: Helping people I can relate to in spaces where there isn’t usually anyone who is able to help. This would have been an amazing resource to have when I was pregnant, on top of free financial counseling. I’m the mother of a one-and-a-half-year-old, so I’ve been in the participants’ shoes already. I was like, “This is me. This is my demographic.” It’s a program that is very near and dear to my heart. 

TG: How are we serving new parents through this pilot? 

BC: We are providing pregnant Philadelphians with community and access to education and resources that will last a lifetime. While guaranteed income gives new parents the support they need to focus on long-term goals, like saving for homeownership, our counselors are providing the knowledge and tools for them to manage that additional income and achieve those goals. Pairing guaranteed income with personalized counseling helps participants leverage the additional income from Philly Joy Bank: You can give someone $1,000 each month, but if they don’t know how to effectively utilize those funds, what are you really providing them? 

TG: Why should new parents seek financial counseling?

BC: When I think about motherhood, I don’t put a price tag on it. Because of that, I don’t always consider the expenses that come with it—pumps, diapers, clothes, more diapers. Financial health wasn’t my top priority as a new mom. My top priority was: I’m going to deliver a healthy baby. I’m thinking about what I feed my child, how I dress my child, getting them to doctor’s appointments. Personal finance can be easily forgotten, even though it’s one of the most important things. There are SO many unexpected expenses with childcare, so being a financial guide for participants is an unspoken support. If I wasn’t a counselor, I wouldn’t know how important this is.

TG: Both as a Clarifi counselor and a mother, why do you think we should support pregnant Philadelphians through initiatives like Philly Joy Bank? 

BC: From my experience as a new mom, we always feel like we have to handle it all, so this program lets mothers know they don’t have to go at it alone. Our counselors can guide them through some of the most important financial decisions they have to make. You can feel very alone being a mother, so having someone check in with you monthly and remind you that you’re doing a good job is a huge impact.

TG: What do you wish you knew, going into motherhood?

BC: I have a few!

1. You can’t plan for a baby. What you’re expecting versus the reality of it can be two completely different things. I’ve had multiple pregnancies and only one child. This wasn’t something I could consciously prepare for.

2. Saving money is a form of self care. You can’t put a number on how much you should save, but it’s still very important to save and pay yourself first. Put money aside for budgeting, goals, an emergency fund. You have to take care of yourself in order to take care of your kids. Know that it’s OK to use your savings for emergencies or other expenses that don’t necessarily have to do with your kids.

3. Utilize and build your community. Community is the most important part of motherhood, so for Clarifi and Philly Joy Bank to co-create this sense of community is why this partnership touched me the way it did. Speaking as a Clarifi counselor, we’re now part of your village. And we aren’t always discussing your finances from start to finish. Maybe you’re stressed out and can’t concentrate, so we’ll talk about how you’re feeling as well.

TG: What are you hoping to see, outcomes-wise, with Philly Joy Bank? 

BC: I’m hoping we can provide mothers with a sense of community while empowering them to make financial decisions that help them better show up for their children. If I’m teaching you about personal finance now and instilling those values in you as a new parent, you can pass that knowledge down to your children. We can create a whole generation of personal finance gurus from the work we’re doing with Philly Joy Bank.