The Solution

Financial knowledge acquired through financial wellness/financial literacy workshops that provide individuals the basics of how money actually works so that they have the knowledge and confidence to make better financial decisions affecting themselves and their families.

The approximately 1.5 hour session covers topics including:

• Paying yourself first
• The time value of money
• The power of compounding
• Dealing with credit card debt
• How to improve your credit rating
• Term life insurance v. cash value life insurance
• The benefits of systematically contributing to a long-term tax deferred savings plan like a Traditional or Roth IRA
• A systematic method of buying a new car or truck without taking out a loan

“We are reminded of how critically important it is for individuals to become financially literate…so that they are better prepared to make decisions and navigate an increasingly complex financial marketplace. Choosing a credit card, saving for retirement or for a child's education,… now requires more financial savvy than ever before.....I strongly believe that promoting financial literacy, in particular, must be a high priority….”

*Chairman Ben S. Bernanke, At the Jump$tart Coalition for Personal Financial Literacy and Federal Reserve Board Joint News Conference, Federal Reserve Board, Washington, D.C., April 9, 2008