Money Smart

Chairs:  Michael Cooper
 
The mission of the "Money Smart" program is to empower adults with the basic tools to take control of their financial situation. Adults will be helped to develop the financial confidence and knowledge to understand credit, develop a budget, use banking services, and develop a savings plan. By teaching adults these skills, the desired outcome is that they will gain a sense of hope and potential to improve their current situation and create a foundation of financial stability and security.

Fifteen Rotary volunteers, many with excellent knowledge of financial issues, are serving as Money Smart Instructors. Training again was the cornerstone of the Money Smart Program. Using the Money Smart curriculum prepared by the FDIC, Tom Stokes presented a four-hour workshop on the modules in the curriculum and on how to most effectively teach the curriculum. The Rotary Money Smart Instructors heard from a panel of participants about what they thought was most important for them to learn, and one of those participants volunteered to give a personal testimony at the training sessions. A third session focused on determining which modules in the Money Smart curriculum would be most effective for the population receiving the first sessions. .

Teams of Rotarians have been assigned to four literacy centers in the School District of Greenville County. As a result, forty adults will receive training in Money Smart this fall. Teams will provide a consistent source of assistance to those participating in the series of four sessions. Additionally, participants who complete four sessions on Money Smart will receive a certificate and will have the opportunity to talk with a bank about establishing a banking account. To promote retention in the program, a $50 savings bond will be awarded to one class member at each of the four sessions. Funding for the savings bonds came from other Rotary members.

The Money Smart Program will expand into evening sessions in the spring. A Spanish version of the program is being examined as well. After the basic Money Smart sessions are underway, plans will be made to provide instruction for more advanced financial issues, such as buying a home.