Family Financial Education Workshop

Event Details

Family Financial Education Workshop

Objective:
The goal of this workshop is to empower families with the knowledge and tools to make informed financial decisions, create sustainable financial habits, and achieve long-term financial stability. Through a combination of education, practical exercises, and open discussions, participants will gain the skills needed to manage their finances more effectively, reduce debt, save for the future, and plan for unexpected expenses.

Target Audience:

• Parents, caregivers, and families looking to enhance their financial literacy.
• Individuals interested in building a strong financial foundation for their households.
• People at different stages of financial awareness, from beginners to those seeking more advanced strategies.

Key Topics Covered:

1. Financial Goal Setting
   • Importance of setting short- and long-term financial goals.
   • Creating a family budget and tracking expenses.
   • Aligning goals with available resources.
2. Budgeting Basics
   • Understanding income vs. expenses.
   • Creating a realistic monthly budget.
   • Tools and apps to track spending.
3. Debt Management
   • Types of debt (credit cards, student loans, mortgages).
   • Strategies for paying down debt: the snowball vs. avalanche methods.
   • Understanding interest rates and credit scores.
4. Saving and Emergency Funds
   • Importance of building an emergency fund (3–6 months of expenses).
   • Saving for future expenses (college, retirement, home repairs).
   • Automatic saving tools and strategies.
5. Investing for the Future
   • Introduction to investment options (stocks, bonds, mutual funds).
   • Retirement planning: 401(k)s, IRAs, and pensions.
   • Risk vs. reward in investing.
6. Insurance and Protection
   • Types of insurance: health, life
   • Understanding how insurance fits into overall financial planning.
7. Building Credit and Managing Loans
   • How to build and maintain a healthy credit score.
   • Understanding credit reports and how they impact loan applications.
   • Managing student loans, mortgages, and car loans.
8. Teaching Financial Literacy to Children
   • Age-appropriate financial lessons for kids.
   • Encouraging good financial habits early on.
   • Using allowances and chores to teach budgeting.

Format:

• Duration: Half-day workshop (4.5 hours).
• Interactive Activities: Budgeting exercises, debt repayment simulations, group discussions.
• Guest Speakers/Experts: WBC counselors
• Q&A Sessions: Open time for families to ask questions and receive personalized advice.

Outcomes for Participants:

• A better understanding of how to manage family finances, save, and reduce debt.
• Practical tools to create and maintain a family budget.
• Confidence in making informed financial decisions.
• Improved financial security and future planning.

Materials Provided:

• Printable budget templates and worksheets.
• Access to online resources and budgeting tools.
• Recommended reading and further financial education materials.

By the end of the workshop, participants will have the foundational knowledge and practical tools to confidently manage their household finances and work toward financial goals as a family.

REGISTER HERE

“The Women’s Business Center is funded in part by the U.S. Small Business Administration”