Community Learning Associates is partnering with the City of Toledo, Parks and Recreation Youth Services Department community grant to provide Financial Literacy workshops to area youth from ages 14-25 and young adults on saving and investing to build wealth in the Toledo area. Specifically, the partnership with the City is to encourage youth to start early on understanding the basic of saving, planning for the future, SMART goal setting, understanding credit and debt and participating in the stock market. Mr. LaMont Stewart, who oversees the program believes’ starting early can make a big difference in a young persons’ ability to build wealth. With over 25 years of experience in assisting individuals with investing Mr. Stewart said that “investing early is a game changer for most people seeking to achieve financial security”.
Community Learning Associates mission is “To engage, educate and empower our community by using financial literacy to build wealth and promote life-long financial security”.
The topics discussed will include; goal setting developing a financial game plan for life; Budgeting –Making the Most of your Money; Good debt vs. Bad debt, understanding the difference and managing your credit wisely; Investing;- how to invest in the stock and bond markets; and the basic principal of investing; the “Rule of 72 “.
The program is intends to build on the fundamentals of saving and investing, making good-decisions when it comes to debt and credit and how to avoid the pitfalls of bad decision making when it comes to finances. Mr. Stewart indicated that most people do not have a cushion or rainy day fund, so when an unexpected expense happens its “Game Over” for their finances. We educate participants that an emergency will happen; “It is not if an emergency will occur, but when”, so he says plan for it. Also, we introduce the concept of Pay Yourself First (PYF), most people tend to not include themselves on the list of monthly expenses and the result is that people under save because they made every expense a priority except for themselves.
This is a great opportunity for Toledo Area youth, especially those youth in communities of color to acquire the tools to establish great saving and investing habits. The program will be focused on half-day workshops offered at various locations for easy access. Currently upcoming programs will be held at the Kent branch library on August 13 and August 27 from 10:30 am to 1:00 pm. In addition, future workshops will be held at various Toledo area libraries and other facilities. We want to reach a large area of the community where young people can participant. Additionally, Mr. Stewart is encouraging local organizations to contact the organization to partner to offer the literacy workshops at churches, non-profit organizations and small groups. With the funding from the City and his company Risk Management we will provide all the materials necessary for participants including all educational materials, financial calculators, and workbooks. Also participants will be available for monthly drawings to including a state sponsored 529 Plan college saving scholarships. We also encourage parents and guardians to attend. People interested in attending a workshop can register on Eventbrite.com, keyword financial literacy, or www.communitylearningassociates.com or by phone to 419-724-4881 for more information or to register.