Criteria 4
Quick and Easy Finance
“If a person gets his attitude toward money straight, it will help straighten out almost every other area in his life” – Billy Graham
Challenge: Appalachia is, by all account, one of the most impoverished regions in the United States. Not surprisingly, the lack of personal finance education is endemic in our communities.
Action: In response to this misfortune, SIFE Berea College launched the Quick and Easy Finance Project in the City of Berea targeting people in the community who need financial management advice. Our team partnered with MACED (Mountain Association for Community Economic Development), Healthy Marriage initiative, Edward Jones, State Farm Insurance and Berea College professors to conduct a series of workshops on topics such as Credit Management, Life and Health Insurance, Saving and Investments, and Retirement Planning. The workshops engaged the audience and featured interactive question and answer segments. Free financial needs analysis and financial counseling were provided by certified agents for willing participants.
Results: 100 percent of the participants agreed (60 percent strongly agreed) that the workshops enhanced their knowledge of personal finance for an average of 10 to 15 percent increase in knowledge.