Personal finance education is increasingly vital, yet not everyone has access to it, particularly those who need it most.
Fortunately, learning about personal finance is just a free class away, thanks to Cyndi Phillips, Community Relations Director at ANECA Federal Credit Union.
“This is my third year partnering with W.I.O.A. (Workforce Innovation Opportunity Act), a comprehensive youth employment program serving eligible youth, ages 14-24, who face barriers to education, training, and employment at Louisiana Workforce Development. Our Financial Stability class is listed as one of their 13 pillars for the youth program,” said Phillips.
“I cover the basics of budgeting, savings, credit, debt management, and fraud. Because the audience consists of younger people, I find that the budgeting and credit pieces are the ones that engage the group the most,” she added.
Phillips continued, “73% of Americans rank finances as the #1 stress in their life, and Louisiana was ranked 40th in the country in financial literacy. By giving youth the knowledge to start their financial strategy early in life, it sets them up for success and a better quality of life.”
Since starting to teach the class roughly three years ago, Phillips has heard success stories from former attendees.
“Two years ago, I had a student who started budgeting and building credit through the tools we discussed in our class. He recently shared that he was getting his first vehicle purchased at a good rate because he followed the advice I shared in class and developed a good credit score,” said Phillips.
The class is offered monthly on the fourth Wednesday of the month. Interested individuals can sign up on the ANECA Federal Credit Union Facebook page or by calling Phillips’ office to confirm attendance. They can also reach out to the Workforce Development office to be added to the list.
Lunch is provided for attendees who have RSVP’d with Phillips prior to the day of the class.
“The class is open to the public, and I encourage anyone, regardless of age, to attend. Some adults come to learn about ways to get back on track financially,” said Phillips.
She further stated, “ANECA believes that a financially educated community is a stronger one. We invest our time and resources into holding financial wellness workshops for the underserved, as well as the workforce community and nonprofit partnerships.”