Last week, I enjoyed leading a class for the Neighborhood Economic Development Corporation (NEDCO) and their Financial Foundation course. For more than 35 years, NEDCO has been building opportunities in our community. By supporting financial stability and responsible homeownership, providing access to markets for local farmers and food producers, and creating unique programs for micro-businesses, NEDCO is helping people build a future with promise.
This class, entitled “Financial Planning & Protecting Your Assets,” is typically taught as a four-part series. Financial Foundations covers the core topics to help participants reach their financial goals, with focus areas such as:
- Setting realistic goals and breaking them into bite-size pieces
- Creating a budget that focuses on paying down debt and saving for goals
- Figuring out “spending leaks” – and whether they’re worth keeping or fixing
- Reviewing the best strategies for paying down debt, resolving collections, etc.
- Understanding, building, and repairing credit
- Determining insurance needs (for individuals as well as assets)
- Introducing long-term financial planning: retirement plans, college savings plans, etc.
I love to teach, so working with this class was right up my alley. The attendees were fully engaged and everyone actively participated. I’m looking forward to doing it again this winter.