Friday, 22 May 2015

Small Changes Make a Bright Future

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There is a famous quote that says “The safe way to double your money is to fold it over once and put it in your pocket.” Financial problems permeate the American way of life and are attributed to divorce, stress, insomnia and other health problems.

Catholic Charities offers financial education workshops. The workshops are designed to teach individuals and families to manage their money wisely. The classes are held regularly at locations such as The Refuge Cafe at 4727 N 7th Ave and Verde Villas apartments at 5104 E Thomas, both in Phoenix and Ironwood Village at 6738 N 45th Ave in Glendale. The classes follow the Money Smart curriculum.

The EmpowerU classes give an overview of the following subjects:

•Budgeting

•Credit cards

•Spending Priorities

•Home equity loans

•Opening a bank account

•And much more

Cherie Belcher, an EmpowerU instructor, encourages people to attend the free workshops. “Many people we meet don’t have enough income for all of their expenses. We help them realize where their money is going.”

Belcher offers these tips to those who may be struggling financially.

1. Write your budget down on paper

Many people have no idea what their expenses are. Writing everything down like rent, utilities, food and entertainment will give you a better idea of where your money is going.

2. Save your receipts

It is not just the bills and food you need to worry about. Those small expenses really add up. Grabbing food at a drive through or a soda at a gas station may not seem expensive but if you are doing it multiple times per week you may be spending over $100 without realizing it.

3. Set achievable goals

Once you realize where your money is going you should set reasonable goals. Perhaps you’d like to save up for a down payment for a vehicle or pay off a credit card; figure out what you can reasonably do then break that down into a time frame that will work. Now is a great time to start putting a little money away every month to save for Christmas.

One on one financial coaching

For those needing more in depth advice, Belcher is certified to provide one on one coaching to help people meet their financial goals. She recently met with a family who were struggling with the expense of an unreliable car. After analyzing their financial situation they worked together to create ideas. The family chose to replace the car with a more reliable and yet economical vehicle.

Attend a class

Find out more about our next class or register for your free class today.

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