It just amazes me how much I am like my Mom. 

There was a time in my life that I would have probably rolled my eyes at that comment only because I was too young to see the pure essence of her beauty both inside and out.  You really do not see how much you pick up from your parents until you're a bit more mature.  You just automatically learn different behaviors and traits from your parents.  So you should best believe that these are the folks that you probably learn financial management from as well.  And that means that they most likely did the same when they were young as well.

So what happens when you have a parent that just was not fortunate enough to have a parent or a person that they looked up to show them how to open a bank account, manage a check book, create a budget, save to purchase a home and so much more.  Here is where you have a break down.  But there is an opportunity to break this cycle by seeking financial education.

I know that sounds really easy, but that is where the challenge may be.  When you are so far removed from the process of knowing what your choices are, what you don't know is what is really keeping you trapped in a situation that you did not realize you could change.  Just think about all the folks out there that are still paying to get their paychecks cashed.  Yes, there may be small percentages that just do not trust financial institutions, but there are a significant number of these individuals and families that do not realize the risk they are taking let alone the money they are wasting. 

I just want everyone to know what their financial options are and if they still choose to pay for a service they could of received for free…. well, that is their choice.  But I really do believe that once folks understand the financial system and find a way to make it work for their situation, so many doors will open. 
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SMARTMONEY Community Services (SMCS) was founded in 1988 to work in partnership with the Cincinnati Central Credit Union, providing economic education and credit union services to residents of Over-the-Rhine and other economically distressed Cincinnati communities.  Since inception, SMCS has launched a number of innovative programs, including the first Individual Development Account program in the greater Cincinnati community, one of the most successful micro enterprise business training courses and is a HUD-Approved Counseling Agency offering pre and post purchase home ownership counseling and workshops. SMCS has had a longstanding reputation for providing quality affordable financial services and economic education to the Cincinnati region for over 20 years.

For more information regarding SMARTMONEY and/or the programs and services offered please visit their website at www.smart-money.org or contact them at (513) 241-7266.

Change is such an odd word.  Not many letters but can be taken in so many directions depending on who is leading it and/or who it is impacting.  But I would like to challenge us all to think about how we can change our behavior toward financial education.  I don't think I have ever met anyone that aspires to live paycheck-to-paycheck or struggle to make ends meet.  Ok, so what is an "end meet" anyway? And why is it that when we hear the words 'financial education' we automatically picture someone else needing these types of programs and services?

Do you realize that your earnings are not necessarily the key to financial success?  I am sure some of you would argue that point with me, but at every income level there are folks that achieve their financial goals or make progress and others who do not.  So how does one improve their chances of financial success?  First and foremost, be ready to adopt positive financial behaviors for your personal situation.  And in order to do that you need to understand what a good financial choice is for you and your family and what might not be a good choice.  

Ok, here comes that word again: change.  Yes, you might actually have to change your financial behavior.  The simplest way to ease into change is to simply be aware of what you are doing.  Actually think about maybe packing your lunch a couple of days a week, consider increasing the amount of money that gets direct deposited into your savings account (yes I am assuming we all have a savings account), take a "staycation" (enjoy some of the arts and events right here in Greater Cincinnati) or consider whether you really need to purchase another pair of jeans.  Ok, I might have gone a bit too far with the jeans statement but hopefully you get the point.

So now you are more aware of the financial choices you are making, I challenge you to become better informed.  Do you know how to read your credit report? Do you know how to create a household budget? Are you contributing to your 401K plans at work? Do you have a savings account (yes, you need a savings account)? Do you have a emergency fund?  But I would also ask that we all change our perceptions of who needs financial education.  You see there should be no shame in becoming educated, yes-financial education is just as important as anything else in our lives and should not be frowned upon.

So I congratulate all the individuals and families that have taken advantage of the programs and services that SmartMoney Community Services offer.  You have all taken one small step toward making a huge difference in the financial life you live in this fine city. 

Taking responsibility for your financial mistakes, Humbling. 
Sticking to a budget, Difficult.
Understanding your financial choices, "Priceless."

So really what is all this commotion about financial education?

Is it really that important that individuals and families understand the financial choices that they are making?  Do you really think that someone that has worked all week and finally gotten their paycheck should have to pay to get their check cashed?  Maybe there are some folks that do not understand what a credit report is and why they should even be concerned about their score anyway.  Why do we need to understand what mortgage we can really afford?

Today's complex financial services market offers us a vast array of products and services.  This degree of financial choices is good but also means that we should be equipped with the knowledge and skills to evaluate the options and figure out the ones that best met our needs. Most people experience their first lesson in financial management at home.  But many low-to-moderate income families are struggling to make it and not necessarily making good financial choices.  Financial education is critical to help individuals and families understand how to make better financial decisions. 

This is why SmartMoney Community Services is committed to working with individuals and families in Greater Cincinnati regardless of what they make.  You see financial literacy is an issue that affects not only the underserved, but also all families struggling through this economic crisis. The focus cannot solely be on how much money a person needs to make but just as importantly how do we all manage with what we have.

Some of you may know a gentleman by the name of Edward Finke.  He is the President of the Financial Network Group Ltd. and co-host of Simply Money, a TV news media show on FOX19.  He recently delivered the keynote address at SmartMoney's annual award luncheon and made the comment that most financially successful people are financially successful because they have chosen to live below their means.  Well, think about that for a minute.

At SmartMoney Community Services we provide programs and services that range from basic budgeting, first-time homebuyers education, small business development, individual one-on-one financial coaching, foreclosure counseling and much more. We are working to enhance the quality of life in Greater Cincinnati and our weapon of choice is financial education.  So join us and volunteer, make a donation, or better yet take advantage of the program and services that we offer.

Now let me get off my soapbox and get back to fundraising.  We still have a lot of work to do here in Greater Cincinnati and it certainly isn't cheap!