Independence Day 2008 Takes on New Meaning

New York City's Bottomless Closet, a nonprofit that helps economically disadvantaged women secure jobs, knows that drawing a salary is just the entry point to financial freedom. Financial independence means paying down bad debt, managing both salary and benefits wisely, and investing for the future. Bottomless Closet first outfits clients with gently used, business-appropriate clothing and accessories to help them feel confident about going on interviews and entering the workplace. And that is just the beginning.

Bottomless Closet clients gain an invaluable edge from its free series of personal finance workshops, expertly tailored to empower women to take charge of their financial present and future. Created by former investment banker Tami Peter, a member of Bottomless Closet's board of directors, the monthly workshops focus on hot topics like getting rid of debt, budgeting and goal-setting. The year-long series then moves to more sophisticated matters: investing, buying real estate, retirement planning and starting one's own business. There's a "Debt-Free Boot Camp" for those who are deeper in debt, and one-on-one mentoring from women in the financial sector who help clients stay on track to meet their personal goals.

As a result, Bottomless Closet clients not only look but feel like a million dollars. Alla Chechelnitskaya, 50, emigrated in 1996 fromUkraine, where she had been a civil engineer. By 2000, she was drawing welfare and studying computer science at a local college when a social service agency referred her for suitable clothing before an interview at Chase. When she got the job, Alla began attending Bottomless Closet's financial workshops. Now she is debt-free, having even paid off her mortgage, and contributes to her pension plan at NYC's Human Resources Administration.

"Bottomless Closet's personal finance workshops gave me very good, helpful information which I was able to apply to my life," Alla said. "Thanks to what I've learned, I have a clear picture of my financial future and feel secure," she added.

"We're thrilled when we see clients start to take control of their financial well-being," said Tami Peter, the volunteer who has taught the series for seven years. "The seminars prove the need for financial education, and clients who've participated tell us how confident and secure they feel being in control of their financial future." Passionate about financial independence, Peter urges the women to "pay it forward" and share what they learn with family, friends and co-workers.

Bottomless Closet also offers its clients other workshops in personal and professional development. For more information on its full range of services and workshops, visit www.bottomlessclosetnyc.org .

The mission of Bottomless Closet is to promote economic self-sufficiency by providing interview skills, business clothing and ongoing career development and support programs to economically disadvantaged women. By enhancing their self-confidence and self-esteem, we enable them to enter and succeed in the workforce and transform the vision for their lives.

SOURCE Bottomless Closet

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