This Saturday, Chattanooga Neighborhood Enterprise will be holding its fourth annual "Money School" for local residents interested in improving their financial education.
The free event started four years ago as a way to inform people how to be financially smart before it's too late, said Jennifer Holder, communications and special projects manager for CNE. Holder said increased foreclosures and the Great Recession inspired the organization to take a more preventative approach to helping local residents.
If you go
Chattanooga Neighborhood Enterprise will hold their fourth annual “Money School” on Saturday, April 14. The event is free of charge, but participants are encouraged to register beforehand at moneyschoolcha.org. There will be workshops from 9 a.m .to 1 p.m. and breakfast and lunch will be available, as well. Anyone interested in learning how to manage student debt, looking to buy their first home, interested in starting a family or just wondering how to budget better is invited to attend.
"What we realized was people only focus on finances whenever it's too late," Holder said. "We want people to think about their finances now so they can plan for anything - whether it be for retirement or a possible foreclosure."
The event is from 9 a.m. to 1 p.m. and will include 45-minute workshops centered around homebuyer education, student loan debt repayment, information on long-term investments, saving for retirement and more. To register and see a full schedule of the workshops offered, visit moneyschoolcha.org. Breakfast and lunch will also be provided as well as one-on-one appointments with personal finance advisers.
Holder said they choose the workshops each year based on surveys done by participants and the community. She said previous participants requested a more advanced investing class this year, more information about student loan debt repayment and information about the new tax law. There will also be workshops about life insurance and how to save for retirement.
The demographics and income levels of participants can vary greatly - from those making under $20,000 a year to those making more than $150,000. Chattanooga's median household income in 2016 was about $41,000, according to the U.S. Census Bureau.
Holder said the majority of attendees are women, but everyone is welcome.
"All of us are affected by money," Holder said. "Making sure that not only you are prepared for your future, but your family is prepared for the future is really important."
CNE will also be providing a new class called, "So You Want to Have a Baby?" focused on the costs involved when having a child. Teens are invited to attend to learn about college scholarships and other grants available. There will be 19 workshops to choose from and a "Marketplace" of informational booths for attendees to browse, as well.
Holder said the agency is also trying something new this year and offering a free monthly session called "Money School After Hours" that will begin in May for those who want to continue their financial education.
For a list of session topics, visit moneyschoolcha.org/donate.
Contact staff writer Allison Shirk at ashirk@timesfreepress.com or 423-757-6651.