“I realized I spend a lot of money on things I don’t need.” – Financial Awareness class attendee
Britepaths and Financial Empowerment Center at South County (FECSoCo), in partnership with Capital Asset Management Group, conducted a Financial Awareness class to associates with Goodwill of Greater Washington on February 5.
The program included a presentation on the ABCs of Personal Finance, followed by individual financial coaching sessions for each associate. The associates were able to pull their credit reports for review, and Britepaths/FECSoCo staff provided them with their FICO 8 credit scores. Our volunteer financial coaches provided individualized 45-minute financial coaching sessions, answering their personal finance questions, assisting with budget building, discussing debt reduction plans, reviewing insurance needs, retirement planning, and financial goal setting. Britepaths and FECSoCo will conduct these workshops at Goodwill on a bi-monthly basis.
The participants clearly found the day to be informative. Here are some of their thoughts:
- “The No Spend Day concept is one I find to be an interesting way to save.”
- “I realized I spend a lot of money on things I don’t need.”
- “I plan to restart my 401K savings.”
- "I learned about building my credit and how to save more.”
- “I will save up more for emergencies and budget more effectively.”
We were pleased to have representatives from the Foundation for Financial Planning (FFP) with us to observe the class. The FFP recently renewed a $30,000 grant for 2020 that funds our one-on-one Financial Literacy initiatives -- mentoring and financial counseling through Britepaths and financial coaching at FECSoCo.
We are grateful to have the opportunity to partner with Goodwill, Capital Asset Management Group and the FFP to offer the opportunity for more community members improve their lives by gaining better knowledge of and control over their finances.