This is a five day training designed to help housing counselors work with their clients to better assist them managing their financial resources, track their daily spending habits, and identify tools that will help them become better money managers.
Additionally, this training will review the basics of understanding money, banking, and financial institutions, as well as the importance of keeping your financial house in order and understanding your credit report. The training will also explore the key elements of evaluating a financial education program in relation to financial educators.
The modules included in this training are:
Introduction: Financial literacy in Today’s Economy
- Attendees will have a greater understanding of why financial literacy is important in today’s economy.
- Attendees will gain an educational experience that considers them as the center of the learning.
- Attendees will learn how to facilitate trainings that respond to the needs of the consumers.
- Discuss and learn the importance of financial literacy in today’s economy.
- Understand how financial attitudes develop.
- Engage with adults in a peer learning environment.
Module 1: Budgeting, Goals and Spending Plans
- Attendees will learn how to effectively communicate change making information about financial analysis, goal writing and creating spending plans with consumers.
- Understand and create cash flow analysis with consumers; roll in tracking activities to ensure accuracy, communicate the reasons for goal writing.
- Understand prioritization, crisis budgets, budgeting tools and resources to use in action planning; determine what a financially healthy household looks like.
- Consumer protection knowledge and a desire for advocacy.
Module 2: Banking Basics, Consumer Protection and Consumer Rights
- Attendees will understand banking basics and consumer protection laws and rights.
- Engage in participatory learning about legitimate financial products and services.
- Discuss fringe market banking and create alternative responses to predatory practices.
Module 3: Credit Reports and Credit Scoring, Fair Credit Reporting & Equal Credit Opportunity Acts
- Attendees will analyze and interpret credit reports and scores; they also understand the laws related to credit reporting.
- Gain exposure to credit report details and understand/communicate credit score variations.
- Participate in scenario challenges and case studies for general group discussions.
Module 4: Debt Reduction, Student Loan Debt, and Laws Pertaining to Fair Debt Collection practices
- Attendees will be exposed to various methods and tactics for reducing debt, with a strong focus on student loan debt
- Understanding debt types – good debt/bad debt, debt reduction tactics explained.
- Exposure to debt reducing tools, worksheets, scenario challenges.
Module 5: Long Term Financial Planning, Investing and Insurance
- Learners will be able to evaluate financial and insurance service providers, products and services.
- Engage in participatory learning about investing (home, retirement, business).
- Develop an understanding and communicate about various insurances.