Newest board member Star Shealey and first time volunteer Nara Monkam worked well together as they shared a wealth of knowledge about budgeting, setting financial goals and understanding credit to women of Safe Haven.
The money management seminar on February 17 was the second in a series of seminars and workshops to be conducted for Safe Haven clients. Nara Monkam took the floor first by explaining exactly what a budget is and why it’s important. There were many heads nodding as she talked about the importance of making sure ‘you manage your money instead of money your managing you’. For the next 30 days each woman committed to keeping a financial journal in which every single purchase would be tracked as well as how it was paid for. Said Nara, you’ll be surprised about the spending patterns that are revealed”. The next step she said would be to then analyze the information and make adjustments. Interestingly many of the women couldn’t wait to give it a try. This session was very interactive as many had questions and asked for advice on how to deal with individual issues.
After a 10 minute break Star Shealey took the floor and discussed the importance of credit and how credit scores or FICO is determined. Many were shocked to learn that it’s possible to own a home even if their income was a mere $8.00 and hour. Ms. Shealey also shared the many programs available to aide in obtaining the goal of home ownership. Ms. Shealey shared that even if there are blemishes in their credit it’ll take work and dedication but owning a home is still a real possibility y. Between developing a budget plan and working it and getting any credit issues under control it became obvious a follow up to the money management seminar was required. Plans are in the works to follow-up within the next 3 weeks.
As has become an integral part of each seminar founder and executive director Janice Pettigrew invited the women to take a stroll with her on a journey as she soothingly spoke into them words of encouragement and anticipation for the futures awaiting them.
The money management seminar on February 17 was the second in a series of seminars and workshops to be conducted for Safe Haven clients. Nara Monkam took the floor first by explaining exactly what a budget is and why it’s important. There were many heads nodding as she talked about the importance of making sure ‘you manage your money instead of money your managing you’. For the next 30 days each woman committed to keeping a financial journal in which every single purchase would be tracked as well as how it was paid for. Said Nara, you’ll be surprised about the spending patterns that are revealed”. The next step she said would be to then analyze the information and make adjustments. Interestingly many of the women couldn’t wait to give it a try. This session was very interactive as many had questions and asked for advice on how to deal with individual issues.
After a 10 minute break Star Shealey took the floor and discussed the importance of credit and how credit scores or FICO is determined. Many were shocked to learn that it’s possible to own a home even if their income was a mere $8.00 and hour. Ms. Shealey also shared the many programs available to aide in obtaining the goal of home ownership. Ms. Shealey shared that even if there are blemishes in their credit it’ll take work and dedication but owning a home is still a real possibility y. Between developing a budget plan and working it and getting any credit issues under control it became obvious a follow up to the money management seminar was required. Plans are in the works to follow-up within the next 3 weeks.
As has become an integral part of each seminar founder and executive director Janice Pettigrew invited the women to take a stroll with her on a journey as she soothingly spoke into them words of encouragement and anticipation for the futures awaiting them.
