Financial Coaching and Housing Counseling
Individuals and families receive the tools needed to gain financial control of their future.
Financial Education occurs through free workshops covering budgeting, banking, how credit works, credit reviews, and preparing for major purchases. During one on one coaching sessions, individuals develop a personal budget, learn money management techniques, take steps to improve credit, and receive help to establish checking or savings accounts.
Financial Education Workshop - a two-hour workshop covering budgeting, banking, how credit works, credit review, and preparing for major purchases.
- Individuals who attend the Financial Education Workshops will gain knowledge on money management techniques, importance of credit, and ‘scams’ to watch out for
CONSUMER PROTECTION: SCAMS - a two-hour workshop covering common consumer scams and predatory lending practices to protect Northern Kentucky Residents.
FINANCIAL COACHING - one-on-one sessions to develop personal financial goals, money management techniques, improve/establish credit, and help establishing checking or savings accounts. The creation of an action plan and holding the individual accountable are important components of coaching.
- Individuals participating in the coaching sessions will be able to assess their financial situation, know where their money is going, improve their credit score, and learn ways to save for a “rainy day” or select other personal financial goals
IT MAKES CENTS – a customized course designed to provide the knowledge necessary to make good financial decisions for ages 16 to 21. Topics include the importance of: goal setting, budgeting, savings plans, investment opportunities, good credit, and how to avoid predatory lending.
- High School students who attend a workshop will understand how to read a pay stub, understand what questions to ask a potential employer, and learn the importance of saving money
eHome America Money Management Online Course - $50 fee https://www.ehomeamerica.org/brightoncenter
Why We Do It
In 2009 more than 92 million people living in U.S. gave themselves a grade of C, D, or F on their knowledge of personal finance, suggesting there is considerable room for improvement, according to the National Foundation for Credit Counseling, Inc. Just over 30% of adults reported that they have no savings. Other studies have found that 57% of households in the U.S. don’t even have a budget.
Financial coaching is an emerging approach to help individuals improve their financial situation. A trained financial coach has knowledge of personal financial topics as well as experience in how to support a client to make decisions and change behaviors as stated in “Financial Coaching: A New Approach for Asset Building?; A report for the Annie E. Casey Foundation, 2007.
The effects of financial literacy education in high school continue to influence attitudes and behaviors toward money management for students well after graduation, according to newly released study. The study of 65,000 college students was given exclusively to USA TODAY by EverFi and Higher One, organizations that help implement financial literacy programs. First-year college students required to take a financial literacy course in high school are significantly more likely than their peers who didn’t take class to be financially responsible, the study found. Just 17 states require a course. Students who took a class did better on the survey’s financial knowledge questions, were found to be more averse to debt, more likely to pay credit card bills on time, and less likely to go over their credit limit.
Once an individual completes the workshop they schedule an appointment to meet with a Financial Coach. At the initial appointment, individuals will need to bring copies of : 1) all monthly bills in the individuals’ name, 2) verification of monthly income and 3) a copy of a credit report if recently pulled.
Local high schools interested in the It Makes Cents course should contact Ellen Bates at (859) 491-8303 ext. 2327 or email@example.com.