As the Executive Director of SmartMoney Community Services, Lisa Roberts-Rosser knows first hand that financial literacy is an issue that affects not only the underserved, but all families struggling through this economic crisis. In this week's blogs, she'll offer insight into how SmartMoney helps our community focus not just on how much money we earn but how we can better manage what we have.
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Getting financially educated
Posted By: Lisa Roberts-Rosser
8/24/2010
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!