Money Talks

By Lindsey Rapone

Do you want valuable information and free food? This summer, United Way of San Luis Obispo County is hosting two “Money Talks” workshops for young adults ages 16-22. Come join us for a free lunch and crucial financial advice!

Now is a perfect time to start thinking about your finances. Nearly half of all of American families spend more than they make, and even more are saving nothing for retirement.  What's worse is that money stress destroys relationships and is harmful to our health!  Education about debt, investing, credit scores, and budgeting is more important than ever – and these vital topics aren’t taught by most schools.

At United Way of San Luis Obispo County, we believe that financial literacy should be taught from a young age. Financial knowledge is an important building block for a person’s future success, and we are dedicated to instilling this knowledge in our youth.

We have teamed up with financial professionals to bring the “Money Talks” program to teens and young adults in SLO county.  The “Money Talks” program was started by the University of California Cooperative Extension. It was created to improve the economic well-being of youth in America.  The program is usually 5 class sessions, but this summer Mr. Ryan Caldwell from Wacker Wealth Partners will be teaching Personal Finance 101, a condensed two hour version of the material.

This fun, interactive class will focus on the most critical aspects of financial literacy for young adults: the emotion behind financial decisions, the mechanics of building and maintaining a good credit score, various forms of debt and how to stay out of trouble, basics of taxes, goal setting, saving, and investing.  

Teaching young adults about their money personality - the set of ideas that govern spending, giving, and investment decisions - is a pivotal step in securing a strong financial future.  Knowing their money personalities early on helps young adults understand what motivates their financial behavior, and allows them to make meaningful and lasting changes to create the financial future they want.

The teens and young adults will also learn about the importance of setting realistic and attainable money goals.  One helpful strategy they will learn is to pay themselves first, establishing the habit of setting aside money into savings before paying bills or buying groceries.

We will illustrate how starting a savings plan early has a profound impact on one's ability to save towards long-term goals because time and compounding do some of the work for you!  The class will also focus on the basics of using credit cards, bank accounts, investing, debt management, and credit reports.  Understanding these basic financial concepts from a young age will allow the young adults to make wise financial decisions now and in the future.

There will be two Personal Finance 101 classes this summer: July 27 and August 21, both from 11:00 a.m. - 1:30 p.m.  The workshops are free and lunch will be provided.  Registration is required.

For more information or to register, visit our website, or call Rachel Cementina at (805) 541-1234. These workshops will be an invaluable experience for young adults ages 16-22.