Money School
Saturday, April 1The BX - Brainerd Crossroads4011 Austin St, Chattanooga, TN 37411Learn more online and register at www.cneinc.org/money-schoolWorkshop Schedule (subject to change)MAKING INFORMED FINANCIAL CHOICES9:15 a.m.-10 a.m.: Starting a Business with Pete Arrowsmith of SCORE10:15 a.m.-11 a.m.: Understanding Your Credit Score with LaTricia Schobert of Consumer Credit Counseling Service11:15 a.m.-12 p.m.: Creating a Budget for Your Lifestyle with Daniel Stevens of Faith and Finances12:15 p.m.-1 p.m.: Planning Your Child’s Education: Financial Aid 101 with Eric Farmer of Tennessee Student Assistance CorporationCOMPONENTS OF A SOLID FINANCIAL PLAN9:15am-10:00am: Are Your Finances Ruining Your Health? with Trevor Brand of Erlanger Health Systems10:15 a.m.-11 a.m.: Successful Long-Term Investing, It’s Not Rocket Science with John Wilson, CFA of CFA Society of East Tennessee11:15 a.m.-12 p.m.: Basic Wills and Trusts with David Elliott of Grant Konvalinka and Harrison12:15 p.m.-1 p.m.: What You Need to Know about Life Insurance: Funerals, Future Healthcare, Aging with Gary Hathaway of New York LifeMANAGING FINANCIAL PRODUCTS9:15 a.m.-10 a.m.: The Dream of Homeownership with Holly Walsh of BB&T Bank10:15 a.m.-11 a.m.: Student Loan Repayment Workshop with Winston Drain of UTC Financial Wellness Center11:15 a.m.-12 p.m.: Breaking Free from Debt with Noelle Schwantes of Change Your $tory12:15 p.m.-1 p.m.: Is Leasing Good for Me? Cars, Furniture, Appliances with LaTricia Schobert of Consumer Credit Counseling ServicesPERSONAL FINANCE FOR TEENS & TWEENS9:15 a.m.-10 a.m.: Financial Success for Teens with Jennifer Harper of Common Cents Financial Literacy10:15 a.m.-11 a.m.: Entrepreneurship with Teens with Allison Reedy of CO.LAB11:15 a.m.-12 p.m.: Money Boss: Create a Five Year Money Plan with Yolandra McClinton12:15 p.m.-1 p.m.: How Long Will It Take You to Become a Millionaire: The Power of Savings with Nick True of Mapped Out MoneyCLASES EN ESPAÑOL9:15 a.m.-10 a.m.: Como ahorrar dinero en las cuentas de electricda con Felipe Lara, Empower Chattanooga10:15 a.m.-11 a.m.: Como manejar un presupuesto / Manejo de Deudas con Ivelisse Perez, Operation HOPE11:15 a.m.- 12 p.m.: Entendiendo su Crédito con Ivelisse Perez, Operation HOPE12:15 p.m.- 1 p.m.: Como Iniciar un Negocio con Marco Perez, LAUNCH Chattanooga
You're never too young to start saving.
So those as young as age 13 are invited to Money School, a free, financial education day to be held Saturday at Brainerd Crossroads.
If you start investing at age 13, thanks to the "miracle" of compound interest in which an investment's interest is reinvested, small beginnings can yield huge returns at retirement age.
"If you're talking about saving for 40 years versus 45 years, those extra five years make a massive difference," said local financial blogger and speaker, Nick True of Mapped Out Money, who will give a talk titled "How Long Will It Take You to Become a Millionaire: The Power of Savings."
And even if teens don't have money to invest, they can aim toward earning scholarships if they get good grades, participate in groups and organizations and show leadership, said Eric Farmer, outreach specialist for the Tennessee Student Assistance Corporation.
"Mainly, what I talk about is what the students can do," said Farmer, who'll ask a room full of teens to pick between scholarships, grants and loans to fund college. "They won't say scholarships, they'll say loans. I kind of emphasize that the loans are the last resort."
Farmer also will talk about 529 savings plans used to save for college.
"It can be as little as $50 to start some of them," Farmer said. "If the oldest child does not use it all, it can be transferred to the next child."
Another teen-oriented speaker Saturday will be Jennifer Harper, a Chattanooga certified financial planner who founded Common Cents Financial Literacy, a nonprofit education program for 16 to 22-year-olds.
"It's really more about trying to get them thinking about what kinds of habits they can start building," Harper said. "I tell them it's very important to start saving something. The amount isn't as important as the consistency."
Debt will be the subject discussed by Noelle Schwantes, whose startup business, Change Your $tory, is meant to help women "clear up the faulty beliefs and emotions that keep them from financial freedom."
"I talk about shifting their beliefs about debt, just the belief that I can't manage my life without debt," Schwantes said.
Last year's Money School drew about 150 people; this year, 300 have already RSVP'd, said CNE spokeswoman Jennifer Holder. But the more, the merrier, she said, and there's still plenty of room left for participants at the free event that includes a free breakfast and free pizza.
"People can show up that day," Holder said. "They don't have to come the entire day; if they just want to learn one thing, that's fine,"
For the firsts time, this year's event will feature Spanish-language classes, include a talk about how money stress can impact health and the event will be shorter than last year's, she said.
"We've kind of tightened up the day; made it a little bit shorter," Holder said.
Chattanooga Neighborhood Enterprise's mission is to create economically diverse neighborhoods filled with financially empowered citizens and housing for all. CNE was organized by then-mayor, now U.S. Sen. Bob Corker, R-Tenn. three decades ago. CNE's programs include homebuyer education and counseling, home improvement loans, affordable mortgage products, foreclosure prevention services and affordable homes for sale and rent.
Contact staff writer Tim Omarzu at tomarzu@timesfreepress.com or www.facebook.com/MeetsForBusiness or on Twitter @meetforbusiness or 423-757-6651.