2017-04-20 / Community

‘It’s Time To Get Smart About Your Money!’

By John Bonke
Staff Writer • jbonke@mihomepaper.com • 810-452-2668

BAD AXE — “It’s Time To Get Smart About Your Money!”

In debt and don’t know what to do? Understand your credit score and its effect on your finances? Prepared for a financial emergency? Do your children understand the effects of spending and saving money? Planning for the future? Want to understand your credit score? Know how to protect against identify theft? Need help saving for the future?

If you are concerned about any of these issues, then “It’s time to get smart about your money!” The Great Start Parent Coalition, the Bad Axe Area District Library and area financial institutions are sponsoring a free money-focused educational evening the entire family can attend.

MoneySmart Night will be from 5:30 p.m. to 7:30 p.m., Wednesday, April 26 at the HISD Administrative Offices, 1299 S. Thomas Road, Bad Axe. This event is free and open to anyone wanting to better manage their personal finances. Light refreshments will be served. Call Yvonne Prill at 989-269- 3493 to register.

Topics for adults and teens range from credit and mortgage issues to identity theft and fraud to planning for the future. There will also be fun, educational activities for the kids and care for toddlers.

The program is divided into sessions for adults, teens and students in grades K-6. Toddlers are those aged 4 and younger. There will be a separate room where parents can leave their toddlers with caregivers.

The sessions for adults and teens will consist of 15- to 20-minute presentations and a time for questions.

Adult sessions include “Credit Issues,” “Mortgages,” and “Planning for Your Future.” Teens can find out about “Building Your Credit,” “Identity Theft,” and “Planning for Your Future.” Students in grades K-6 can learn about “Counterfeit Money,” “Buying Things” or “What is a Bank?”

“We want the sessions to be as interactive as possible so that attendees can ask whatever questions they wish of all the experts who will be available,” said Bad Axe Area District Library Director Mimi Herrington.

Participating institutions include Bay Port State Bank, Chemical Bank, Edward Jones, Independent Bank, Northstar Bank, Team One Credit Union, Thumb National Bank and Yoder Financial.

“The Library is co-sponsoring this financial literacy evening with the Great Start Parent Coalition because we want to ensure dissemination of information to help adults and teens alike obtain the resources necessary to make wise financial decisions and to know where to go for help when difficult financial issues arise,” Herrington said.

Money topics about which teens are less knowledgeable today than they were 10 years ago include how credit card interest and fees work, how to manage a credit card and how to balance a checkbook, Herrington added.

Another study found that 40 percent of U.S. adults (92 million people) gave themselves a “C” or worse on their knowledge of personal finance and more than a third of adults report that they have no savings, she also said.

“Those statistics point up the need for increased financial literacy in our communities,” Herrington said.

Money Smart Week began as a coordinated effort of the Money Smart Advisory Council, a diverse group of more than 40 Chicago-area organizations working together to promote personal financial literacy. The Chicago Fed convened the Council’s first meeting in July 2001, during which members agreed to share resources and ideas to achieve greater public awareness of the programs and services available in the city of Chicago. The result was Money Smart Week 2002 - six days of focused presentations by community groups, financial institutions, government agencies, educational organizations, and financial experts, all designed to help consumers learn to better manage their personal finances. Its Mission Statement: “Mission: Money Smart Week helps consumers manage their personal finances better. Programs are offered to all demographics and income levels, and cover all facets of personal finance.”

For more information, visit www.moneysmartweek.org/learn#money.

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