Moneytalk Financial Foundations, Inc

When we are hosting financial workshops, the goal is to have the students and adults familiar with financial tools they might not have been aware exist; a basic understanding of the terminology used; a fundamental of how the financial tool works; how the financial tool impacts and is impacted by other financial tools; and how the financial tool will benefit them.  The students will be empowered to seek out these financial tools as a result of these workshops. Moneytalk Financial Foundations coaching will enable individuals, couples, and families to make great strides toward becoming financially independent. Through the coaching portion of this program, these individuals will have a monthly budget allowing them to successfully manage a bank account, pay their bills in full and on time, reduce their debt, increase their savings, start an emergency fund, and increase their credit score. Through these changes in money management, these individuals will also experience more stability in their families, home, and job.

The client progress in their money management will come through services such as financial life-skill workshops (such as budgeting, managing a bank account, basics of insurance, etc), financial coaching for individuals and couples, ongoing support, and much more. Participating clients will receive financial coaching 2 times per month for 1 hour each session. The first session will be focused on their specific skill, foundational, emotional, or physical challenges. We will be working with these individuals to help them learn needed skills and overcome these challenges. The second session will be focused on reviewing the previous month’s budget successes and challenges; preparing their budget for the upcoming month; and updating the progress on their goals. Both sessions will include follow-up and accountability on their agreed upon action items. The clients participating in coaching will also receive incentives according to their progress and efforts. Participating clients will be encouraged to attend a workshop related to their financial skill learning needs. For example, a client who has struggled with bouncing checks will be encouraged to attend a Managing a Bank Account workshop series. Participating clients will be encouraged to attend a minimum of one Courage to Change financial support group per month. There will be weekly meetings available to help clients through providing accountability, addressing unexpected expenses, preparing low to no-cost gift giving, simple cooking classes, and more. Participants will also have access to the financial hot line where they can call for advice, resource referral, and some financial assistance in a crisis. It has been our experience clients are more likely to continue making progress if they have some investment in the process. Therefore, clients will be expected to investment either a small fee or volunteer hours. As their money is tight, we offer both a need-based scholarship and an earned scholarship through volunteering. If they choose to pay a small monthly fee, they will be required to sign a Client Agreement stating the monthly amount and length of time. This agreement will allow the client to be included in the reporting to the credit reporting bureaus; thereby providing the client with current positive (assuming payment is made in full and on time) transactions which will help their credit score and everything that uses this score. If they choose volunteer hours, we will do our best to provide them with opportunities to use their skill set either with Moneytalk or one of our partnering non-profits. This volunteer work will also be something they can include on their resume.

We have developed our own, simple to understand, workbooks and activities to help student and adult clients grasp the basic skills.  We also work in partnership with schools, nonprofits, and for-profit businesses in any way feasible. When we are able to get our own office space, we will be able to support more volunteers for both behind the scenes needs and working with clients.  These volunteers will have an application process, references checked, and background checks.  There will also be an extensive training process for the volunteers who are providing workshops in the community and/or schools and those who are coaching.

Workshops in the community continue to be a challenge.  We believe this is partly due to waiting to reserve a location until we have paid registrations and the cost of the workshop.  Sponsorships will help us rent space earlier and reduce the cost (or remove the cost) for the attendees. So far in 2018, we have worked with almost 800 students with over 300 more scheduled during the remainder of the year.  We are working on a Memo of Understanding (MOU) with Junior Achievement to be an official non-profit partner focusing on their Finance Park program and mock job interviews.   We also have several partnerships in the process of being developed.  Pathway to Hope is opening a Reclamation Clubhouse in Olathe and Moneytalk will be providing all of the workshops and financial coaching services.  aStreamVillage is leading a pilot program initiated by Housing and Urban Development (HUD) focusing on KCK and KCMO.  Moneytalk will be one of the resources clients will use for financial life-skill and coaching needs.  Will Shields is planning to host several workshops for his staff and customers at 68 Inside Sports as well as in his other initiatives.  (We have had many challenges getting the first workshop scheduled).Hillcrest Transitional Housing is considering contracting with Moneytalk to help provide weekly budget counseling for their residents.PowerShift Worship Center in Raytown is starting an Impact Ministry initiative to provide personal and entrepreneurial financial life-skills for their congregation and surrounding community.  Moneytalk will be the primary provider of these workshops and coaching efforts.One thing we have not yet accomplished is establishing the financial stability to be able to support our own office space.  This space will allow us to expand our volunteer base exponentially, host workshops at our location (instead always renting from someone else), assist with pulling credit reports and scores (as a separate secure location is required), and begin many of the ongoing support plans needed to help these individuals make life-long changes.

Our website has been re-written to be mobile responsive as of May 2020. We are also hosting coaching and workshops on Zoom.