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BIENESTAR ADULT FINANCIAL LITERACY PROGRAM

FIRST LEVEL CLASS

October 8, 2009 – December 9, 2009

OUTCOME REPORT

BACKGROUND:

 

Bienestar introduced its fourth cycle of basic level adult financial classes to its residents this fall. Classes were held at the Sunset Gardens Community Room located at 951 SE 13th Avenue, Hillsboro, OR. This was an eight-week program which began on October 8th and ended on December 9, 2009. Classes were held from 6:00pm to 7:00pm on Wednesdays.

 

Bienestar provides the first basic level of financial literacy as part of a three year program; the first year consists of basic financial education to groups of participants and we continue to work with these students in the second and third years, establishing financial goals and providing guidance and information.

 

Maria Moreno, Bienestar Program Coordinator, provided the class instruction using MoneySmart Spanish curriculum, a FDIC (Federal Deposit Insurance Corporation) adult financial education program.

 

The Money Smart curriculum helps individuals build financial knowledge, develop financial confidence, and use banking services effectively. The more people know about credit and banking services, the more likely they are to increase savings, buy homes, escape financial predators, and improve their financial health and well-being.

 

                                                       

 

 

Upon completion of the Money Smart modules, students gained the knowledge and resources they need to:

 

®    Confidently use the services and products of financial institutions such as banks,

        credit unions, and savings and loans.

®    Create and implement a budget.

®    Use credit and borrow money responsibly.

®    Protect their financial rights and safeguard their money.

®    Determine their readiness to buy a home.

 

 

ATTENDANCE:

 

Four out of five participants completed the program with 100% attendance.  Residents came from, Sierra West, Reedville and Sunset Gardens.  Three Promotores attended the class.

 

OUTCOME:

 

Each student was given a pre and post assessment per topic.  This was a tool to measure how much they knew before and after the class.

 

TOPIC

PRE-ASSESSMENT

POST-ASSESSMENT

Charge It Right – how to make a credit card work for you.

25%

75%

Keep It Safe - knowing your consumer rights

25%

75%

To Your Credit – how your credit history will affect your credit future.

25%

75%

Borrowing Basics – an introduction to credit

 

 

25%

 

 

75%

Check It Out – how to choose and keep a checking account

 

40%

 

60%

Bank On It – an introduction to banking services.

 

30%

 

70%

Money Matters – how to keep track of your money.

 

25%

 

75%

Pay Yourself First – why you should save.

 

30%

 

70%

 

Students received a certificate of completion and a $50 gift certificate for groceries. Three participants have already applied for an Individual Development Account through Bienestar partnership with Adelante Mujeres and will be participating in the second level adult financial education program.

 

 

                                      

 

Quotes from participants:

 

“The course helped in thinking how to save money and to balance what I earn and spend to better manage my

money in the best way possible.  The budget planning helped me so much that I will put it to practice.”

 

“This class helped me to obtain information about good credit, how to save and manage money in the bank.  I

learned the banking terminology and credit agencies that exist.  This is very helpful so we don’t become victims

of fraud.”

 

“This course exposed me to information I was not aware of.  I discovered ways to save money and making

decisions about spending.”

 

“I enjoyed the class very much, it cleared doubts I had about money management.  The instructor was also very

patient with us.”