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‘Money Smart’ classes start next week
BY AMBER ROKYTA
PORT LAVACA WAVE
With today’s economy, being “money smart” is not something the country is taking lightly. The International Bank of Commerce will start offering Money Smart classes every second Tuesday of the month starting January 13. The program will be eight months long with a concluding graduation ceremony in September where members of the FDIC in Dallas will present students with certificates of completion. The program is free to the public and will start at 6 p.m. in the Community Suite of IBC.
There are eight modules to be studied. Each session is to run about an hour to and hour and a half long. The first module is “Bank on it.” This session will cover banking basics, financial institutions, why people use banks and the fundamentals of using bank accounts. Within this time the students will also learn how to develop a banking relationship with their bank.
“Check it out” is the second session. In this one, the student will learn the basics of checking accounts. A student will learn how an account works, fees charged and how to open and maintain an account.
Session three is setting financial goals. Annette Alonzo, Vice President of Sales and Marketing for IBC in Port Lavaca, says this module is probably the most important for students.
“It will help decrease spending and increase income,” she said.
In this module, students will learn how to set and maintain financial goals. They will learn about spending plans, the difference between wants and needs, and as Alonzo said, decreasing spending and increasing income.
“This program can benefit just about everyone,” Alonzo said.
“Pay yourself first” is the fourth module. This module is simply a way for students to realize their financial goals through identifying ways they can save.
“Borrowing basics” is the fifth module and explains how to use credit in the right way and how different forms of credit can help the student. The sixth module is “Charge it right.” This module teaches students how to use credit cards responsibly The paying for college and cars module is seventh and shows students information on installment loans, including car loans and student loans.
The last module is “A roof over your head.” In this, students will gain the knowledge of how to make informed choices about renting their first apartment. Also it will teach about preparing to make choices on mortgages so that the students at some point will be able and ready to own their own home.
This program is required for families involved with getting homes through Habitat for Humanity. IBC provides all the materials and have a “come as you are” policy. For more information contact IBC at 552-9771.
With today’s economy, being “money smart” is not something the country is taking lightly. The International Bank of Commerce will start offering Money Smart classes every second Tuesday of the month starting January 13. The program will be eight months long with a concluding graduation ceremony in September where members of the FDIC in Dallas will present students with certificates of completion. The program is free to the public and will start at 6 p.m. in the Community Suite of IBC.
There are eight modules to be studied. Each session is to run about an hour to and hour and a half long. The first module is “Bank on it.” This session will cover banking basics, financial institutions, why people use banks and the fundamentals of using bank accounts. Within this time the students will also learn how to develop a banking relationship with their bank.
“Check it out” is the second session. In this one, the student will learn the basics of checking accounts. A student will learn how an account works, fees charged and how to open and maintain an account.
Session three is setting financial goals. Annette Alonzo, Vice President of Sales and Marketing for IBC in Port Lavaca, says this module is probably the most important for students.
“It will help decrease spending and increase income,” she said.
In this module, students will learn how to set and maintain financial goals. They will learn about spending plans, the difference between wants and needs, and as Alonzo said, decreasing spending and increasing income.
“This program can benefit just about everyone,” Alonzo said.
“Pay yourself first” is the fourth module. This module is simply a way for students to realize their financial goals through identifying ways they can save.
“Borrowing basics” is the fifth module and explains how to use credit in the right way and how different forms of credit can help the student. The sixth module is “Charge it right.” This module teaches students how to use credit cards responsibly The paying for college and cars module is seventh and shows students information on installment loans, including car loans and student loans.
The last module is “A roof over your head.” In this, students will gain the knowledge of how to make informed choices about renting their first apartment. Also it will teach about preparing to make choices on mortgages so that the students at some point will be able and ready to own their own home.
This program is required for families involved with getting homes through Habitat for Humanity. IBC provides all the materials and have a “come as you are” policy. For more information contact IBC at 552-9771.
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