April 12, 9 am - 2 pm
Financial Dreams: We All Have Them Better Money Habits: We All Need Them
Urban Preparatory Academy 2821 E. 24th St. North, Wichita (Old Mueller Elementary)
Workshops
EXPO
2014
Financial Freedom
(see complete workshop list inside)
• How to Improve Your Credit Score • Escaping the Payday Lending Trap • A Worry-Free Retirement
Financial
Vendors
• Financial Instutions • Government Agencies
Free Stuff & Prizes! • Lots of chances to grab money in the money machine!
A Special Supplement to
The Community Voice
FREEDOM In Partnership With:
Wichita NAACP • Urban League of Kansas • Council of Elders • Sunflower Community Action • Money Smart Wichita • COGIC Urban Initiatives • YEEP
Financial Dreams: We All Have Them By Kenya Cox President, Wichita Branch NAACP
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Financial Freedom
Remodeling decisions are hard.
EXPO
ow do we make a dollar out of fifteen cents, Stay legit and still pay the rent?” That’s a line from song that many of us have been singing along with Tupac for quite a long time. By virtue of personal experience, many more are now humming that same old tune. For the first time in the history of the United States, Cox the middle class is shrinking. The structures that created the middle-class: Well-paying jobs, a 40-hour work week, tuition assistance for college, small business opportunity, resources to purchase homes, and employer-provided health care and pensions are all to quickly being dismantled by the new economic recovery. Studies have shown that, African Americans, other minorities, and low-income earners in general are all disproportionately affected by a lack of financial knowledge and easily accessible information about how to manage our money so it works for us too. The National NAACP launched our “Financial Freedom Campaign” which is an initiative designed to influence our personal money practices and those within the banking industry to prevent unfair mortgage lending practices, protect the community against predatory mortgage lenders, improve fair credit access, promote sustainable homeownership, and provide financial education and wealth-building strategies in historically disadvantaged communities. The fact remains low-wage earners historically have had challenges making ends meet. The reality today it is nearly impossible; unraveling the very fabric that binds many of communities. By working together, despite these mounting challenges, we can become the thread needed to mend our worn places and restore our over-stressed ties that once would bind. Together we have all tools needed to begin creating a more positive reality, for we are stronger and more effective when working together. Yes, P.O. Box 20804 Wichita, KS 67208 the NAACP Wichita Branch truly 316.681.1155 believes in the Spirit of Unity! That is why we are partnering with Money E-mail Smart Wichita, The Community press releases: Voice, Urban League of Kansas, press@tcvpub.com Sunflower Community Action, COGonline IC Urban Initiatives, Greater Wichita voiceitwichita.com Ministerial League, Association of Financial Planning, banks and credit The Community Voice & unions, along with State and City WichitaCommmunityVoiceConnect officials and agencies, to plan and host our first Passport to Financial @VoiceItWichita Freedom Expo. We are all working hard to empower individuals, families Editor In Chief and communities to break the cycle Bonita Gooch of poverty and determine our own Marketing destiny enabling us to care for our Cornell Hill & Bonita Gooch own families and own community. So join us this Saturday, April Graphic Design Sarah Glenn 12 at Urban Preparatory Academy, 2821 E. 24th St. (the The Financial Freedom Expo is a special old Mueller Elementary School). “I supplement to The Community Voice know you’re fed up, but keep ya head Newspaper. The Community Voice is published biweekly by TCV Publishing, Inc., up, things are gonna get easier…. 2918 E. Douglas, Wichita, KS 67208. Extra Things are gonna get brighter.” copies of this supplement can be purchased for $1 each plus postage, if mailing is required.
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Ad Title: Spring Loans 2013 - Kitchen Publication: The Community Voice Trim: 5.9" x 10.25"
3/13/13 2:20 PM
3
FINANCIAL FREEDOM EXPO
| APRIL 2014
4
There Will Be
Lots Going On! Win Ca$h & Other Prizes
Meet the Wichita Wild!
NO BANKS INVOLVED!
FINANCIAL FREEDOM EXPO
|
APRIL 2014
The road to financial freedom starts with homeownership
WE CARRY THE LOAN 0% INTEREST MORTGAGE PAYMENTS START AT $450 A MONTH DOWN PAYMENT ASSISTANCE AVAILABLE Join us for an information meeting to learn how to become a homeowner: April 16 May 8 May 9 5:30pm 5:30pm 12:00pm at the Wichita Habitat Office ɹ 130 E Murdock Call Shawna at 316.269.0755 for more info
Financial Freedom Expo Vendors Stop by and get additional information when you visit with our expo vendors
Financial Institutions Wells Fargo Wells Fargo is a provider of banking, mortgage, investing, credit card, insurance, and consumer and commercial financial services. Check out their online Money Skills for Life Program, an easy interactive program for all ages. Get interactive lessons, tools and checklists on how to buy a home, manage your debt, start a small business, pay for college and save for your future. Bank of America The country’s leading financial institution for personal financial needs, offers checking, credit card, home loans and saving solutions. Bank of Oklahoma Their motto is “We Live Where You Live.” They are committed to educating and aiding communities in the process of successful home ownership and financial responsibility. Their loan officers average 20 or more years of experience in helping individuals realize their dreams of home ownership! City National Bank A full service bank based out of Lawton Oklahoma. They are proud to now be serving the Wichita Community as well. They are in three Wal-Mart locations. Western Credit A Branch of Citizens Bank of Kansas. For people who haven’t always had the best experiences with banks, Western Credit is a breath of fresh air. As an innovative arm of Citizens Bank of Kansas, they go out of our way to find ways to work with you. They’ll help finance homes, cars, furnishings – pretty much anything you could possible need money for. “Life takes money. And we know exactly how to help you find it.” Great Plains Federal Credit Union A non-profit credit union with just one Wichita Branch, the company offers unmatched personal service. They offer checking with no monthly fees and no minimum balance. Looking for a car loan – they have great rates. Meritrust Credit Union Formerly known a Boeing Wichita Credit Union or simply BWCU, with membership open to all residents of Sedgwick and surrounding counties. Mid-American Credit Union They’re exceeding members expectations every day. They offer checking, saving, investments, car and home loans.
Community Businesses Access Wireless A government-supported program that ensures anyone can get a mobile phone. Stop by and see if you qualify. Cliff Cross Insurance An independent agent, Cliff offers great annuity programs to help you save for your retirement and affordable insurance programs that can be used for end of life services and even to pay for end of life care. Liberty Benefit Consultants Learn more about the growing problem with identity theft and how to protect yourself.
Government Organizations The City of Wichita Department of Housing Learn more about Section 8 vouchers that helps income-eligible families with their rent, the Homeownership 80 program that provides first-time homeowners assistance in the form of zero interest deferred loan for their down payment, and about their other home improvement grant and loan programs. City of Wichita Municipal Courts Representatives from the court will be on hand with access to the court’s database. Find out, without fear of arrest, about any outstanding fines you might have. You also will be able to setup payment arrangements plans for your fines.
Kansas Office of the Securities Commissioner This state agency is charged with protecting and informing Kansas investors. Learn more about how to safely invest your money and stay clear of fraud and scams.
Community Non-profits Kansas/Wichita NAACP Founded in 1909, the NAACP is the nation’s oldest and largest civil rights organization. Improving Financial literacy and empowerment is one of the organization’s major platforms. Learn more about local efforts of the Wichita Branch and get’s lots of financial literacy information The Community Voice This 20 year-old communitybased paper continues to provide its readers wit important financial information and fights for the empowerment of the community. Stop by their booth and pick up a copy of the Black Business Directory, a current issue of the paper and learn more about upcoming programs and iniatives of the paper. Urban League of Kansas is a nonpartisan national civil rights organization that advocates on behalf of African Americans and against racial discrimination in the United States. Locally, the organization offers regular homeownership workshops, provides foreclosure assistance and offers job training services. They have job training programs in patient care assistance and administrative professional training. COGIC Urban Initiatives A program of the national COGICC, this program’s mission is to help build our communities. The program works to address issues such as economic development – job creation and training, and financial literacy, earning, saving, investing, and spending wisely. Sunflower Community Action A non-profit grassroots organization, Sunflower takes action for racial and economic equity. To learn more about their worker justice and environmental justice centers, see their ad on page 3. Youth Educational Empowerment Program YEEP is a non-profit organization that teaches financial literacy to children from birth to age 24, with a special emphasis in low to moderate income communities, thus empowering them to set goals so that they will be financially fit for a productive future. The organization uses their Teen Voice magazine to help deliver their message and train youth. The African American Council of Elders Wichita/Sedgwick County Rooted in African heritage and tradition, this organizations mission is to provide guiding principles and advice to the African-American Community, and access resources and implement programs for the preservation of that community. Habitat for Humanity Stop renting, You can own your own home by the end of this year, even with less than great credit. Stop by their booth to learn more. Urban Preparatory Community Outreach Center Stop by and learn more about the classes and outreach sponsored at Urban Preparatory Academy – the old Mueller Elementary. There are free educational and fun classes each Saturday morning. Financial Planning Association Professional Financial Planners will be on hand volunteering their services and giving financial advice. Stop by for a personal consultation. Voter Empowerment You have power if you register to vote and vote. Members of the voter empowerment team will be on hand to help you register to vote. KS Legislators/Local Elected Officials Stop by and meet some of our elected officials, learn about what’s going on the legislative session. Share your concerns. Planning to attend are Sen. Oletha Faust-Goudeau, Rep. Gail Finney, Rep. Rod Houston, Wichita City Councilwoman Lavonta WIlliams.
Event Partners:
5
Money smart The African-American Wichita
Council of Elders,
Wichita and Sedgwick County
Breakout Session 1
9:00 9:30 am
Room #10
10:45 - 11:30 am
Increase Your Credit Score
Increase Your Credit Score
Consumer Credit Counseling, Cynthia Ongeche
Consumer Credit Counseling, Cynthia Ongeche
Buying a Home 101 Funding Your Dreams Urban League of Kansas, Kevin Andrews
“Zero Down, Own Now”
• Targeting Middle & High School Students • Inspiring you to set financial goals for the future
Habitat for Humanity, Shawna Dennett
Youth Education Empowerment Program, Marquis Murphy
OPEN
Just Say No to Payday Loans
(No class)
• Avoid the cycle of debt • How to get out if you have already been caught
Great Plains Federal Credit Union, Angela Franklin
Room #6
Glenda DuBoise
Kansas Office of Securities Commissioner, Shannon Stone
Preying on Those Who Pray
ABC’s of Child Support
Affinity Fraud
Kansas Office of Securities Commissioner, Shannon Stone
Time Banking
18th Judicial Court Trustee, Kelly O’Malia
The Cost of Death & Dying
Advance Funeral Planning Jackson Mortuary, Torrence Jackson Cliff Cross Insurance
1:00 - 1:45 pm
Increase Your Credit Score
Increase Your Credit Score
Consumer Credit Counseling, Cynthia Ongeche
Elementary Financial Literacy
Northeast Optimist Club
OPEN
3rd-5th Grades
(No class)
Elementary Financial Literacy
Just Say No to Payday Loans
Urban Preparatory Community Outreach Center, Ms. Mumford
K-2nd Grades
• Avoid the cycle of debt • How to get out if you have already been caught
Great Plains Federal Credit Union, Angela Franklin
Better Money Habits
• Steps to help get out of debt • Strategies to pay down debt • Tips for saving for large purchases
Bank of America, Dawn Morse
Wise Money Management
• Keep track of and manage your money • Checking & savings accounts and ATM basics
Wells Fargo, Ebony Clemens
Car-Buying Tips & Tricks Meritrust Credit Union, Chris Wolgamott
The Downhill Slide Learn the Warning Signs of Problem Gambling South-Central Kansas Problem Gambling, France Walden
Late Life Lessons
Scams, Fraud, & Identity Theft
Benjamin F. Edwards & Co., Mohammad Awad-Eljied
Liberty Benefit Consultant, Frank Taylor
How to Protect & Grow the Dollars You’ve Saved
Event Supporters: Arthur Gossett American Legion Post #273
Consumer Credit Counseling, Cynthia Ongeche
Chief Bob Thompson
Urban Preparatory Academy of Wichita
APRIL 2014
The African-American Council of Elders of Wichita/Sedgwick County, Carla Jackson-Patton
• Understanding your orders • Ways to reduce fines & penalties
12:00 - 12:45 pm
1:45 pm
|
Room #2
5 Keys to Investment Success
Breakout Session 4
FINANCIAL FREEDOM EXPO
Room #9
AARP’s Financial Security Campaign
Breakout Session 3
Wrap-up & more Prizes
Room #11
9:45 - 10:30 am
11:3012:00 am
FOOD, FUN, PRIZES, & meet the wichita Wild!!
Welcome & Registration
Room #12
Breakout Session 2
smart moves,
6
from page 7
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19. Look for non-financial ways to help family members.
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Career advice, networking suggestions, and home-cooked meals can be just as helpful to new college graduates as cash. Young adults can also help out their parents with household chores or technology lessons, especially if they’re living at home for free.
Financial options for every phase of your life
20. Just say no.
Sometimes you have to look out for your own financial security before helping others. If giving assistance to struggling family members is forcing you to take on debt or tap into savings, consider politely explaining that you can help in other ways, but not by giving cash.
Whether you want to save for the future, secure a personal loan, utilize exclusive online and telephone banking services, or enjoy the convenience of our ATMs and many locations, we are here for you. Call, click, or stop by and talk with a banker.
21. Avoid sharing credit accounts
While family members often co-sign for loans or credit cards to help each other out, doing so can lead to complicated financial ramifications. If one person runs up debt on the account, the other person’s credit can be ruined as well. That’s why it’s best to avoid sharing credit accounts.
Two convenient Wichita locations wellsfargo.com
22. Talk about it.
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23. Live more simply.
The last recession brought frugality back into
24. Plan weekly meals.
Food is one of those categories that can suddenly balloon with take-out meals or restaurant costs. To avoid that trap, try planning meals a week in advance, which also makes it easier to repurpose items: One night’s roast chicken can turn into the next night’s pizza topping.
25. Insure yourself
If you don’t own the place where you live, get renters’ insurance. If you own, make sure you’re not underinsured when it comes to protecting your home and property. Renters and home insurance can be life-savers in the case of weather disasters, theft, and other unexpected events.
26. Buy life insurance.
No one likes discussing death, but once you’re responsible for children or other dependents, taking out life insurance, as well as writing a will, becomes necessary. Young, healthy adults can usually find affordable term policies with little trouble; a $1 million policy for a healthy 30-yearold might cost around $800 a year.
27. Unplug devices
Many electronic devices, such as cable boxes and television sets, suck power even when they’re turned off. To reduce your electricity bill, unplug them or consider using a Smart Strip that automatically cuts power when devices aren’t in use.
3/25/14 3:08 PM
FINANCIAL FREEDOM EXPO
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APRIL 2014
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If you’re not sure whether parents, adult children, or other family members are expecting assistance from you, consider broaching the topic. An honest discussion about needs, expectations, and limits can prevent misunderstandings later.
vogue; do-it-yourself crafts, home-cooking, and even at-home haircuts are all cool again. Small lifestyle changes can significantly reduce monthly expenditures. Take advantage of free events around town and as you know, renting movies is much cheaper than going to the theater.
For people who haven’t always had the best experiences with banks, Western Credit is a breath of fresh air. As an innovative arm of Citizens Bank of Kansas, we go out of our way to find ways to work with you. Life takes money. We’re here to help you find it.
In Wichita and Salina - Call Toll-free 800.594.3041 - www.WesternCredit.com
Borrow Smarter.
Smart Money Moves You Can Make Right Now
GREAT PLAINS FEDERAL CREDIT UNION
Are you failing in your finances? It appears many of us are‌ and very few others are anywhere near the Honor Roll. A 2013 survey conducted by the National Foundation for Credit Counseling found that 40% of Americans would give themselves a grade of C, D, or F when rating their personal finance knowledge.
T
he same survey found that 39% of adults in the United States report that they have no savings. Instead of living the American Dream, many of us are living paycheck to paycheck. Part of the reason so many of us are struggling financially is because we lack a firm understanding of fundamental financial concepts and strategies and the ability to manage money responsibly.
Here are 30 smart money moves you can make right now to improve your financial situation. If you attend the Financial Freedom Expo on April 12, you’ll learn more about how to make these moves happen in your life. 1.Decide on financial goals. For some people, there’s nothing more appealing than saving for a three-bedroom house with a white-picket fence. Others dream of taking a trip around the world or a sabbatical from work. Choosing your own personal money goals makes it easier to work toward them. You’ve heard the saying: “If you don’t know where you’re going, any road will get you there.�
2. Create a spending plan.
Most people spend about two-thirds of their income on three essentials: food, housing, and transportation. Then there are debt payments, savings, household costs, and optional items such as entertainment to consider. Create an annual budget by allocating spending goals for each category.
3. Track your own spending.
Keeping track of every expenditure over a two-week period can offer insight into unnecessary wastes, from restaurant meals to candy bars. You can use a pen and pencil or take advantage of free online tools, such as Mint.com.
4. Resist retailers’ enticements.
5. Research products online before visiting stores. Product review sites, coupon code sites, and online discount warehouses often provide information and insight into how (and where) to find the best deals. With the proliferation of free shipping codes, the lowest price is often online.
6. Earn money from more than one source.
7. Don’t shy away from al debt.
8. Pay off high interest rate debt quickly.
Credit card loans are among the highest interest rate debts around, averaging around 17%, not to mention payday and title loan debt that can run 100% plus if it’s not paid off in a timely manner.
9. Build a solid credit history.
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Lenders base their decisions on whether or not to loan consumers money, and at what rate, partially on their credit histories. That means someone with a limited credit history (because they have few or no financial accounts) can have trouble taking on a mortgage. Pay bills on time and be sure to have some accounts in your name.
& $FOUSBM 4VJUF # t (1/2 block west of Hillside)
10. Check your credit report.
Everyone is entitled to a free credit report once a year; you can get yours at annualcreditreport.com. Reviewing it gives you the chance to fix any mistakes you see.
11. Track and review account statements.
An unfamiliar charge on a credit card is often the first sign of identity theft. Review all mail from financial institutions carefully to make sure your accounts aren’t being misused. If you see an erroneous charge, contact your financial institution immediately.
April Savings Challenge
12. Take advantage of rewards cards.
If you’re among the roughly half of credit card users who pay off their balance each month, you’re in a good position to enjoy the benefits of credit card use. That includes earning rewards points, automatic fraud protection, and in some cases, certain types of warranties and liability protection.
ASC Clue - 5 Down The Value of the next-highest-valued alternative use of that resource.
13. Choose the best credit card for you.
Credit card benefits vary widely. If you tend to carry a balance, it pays to find the card with the lowest interest rate possible. If you’re a frequent traveler, you might want an airline card or a card that comes with travel insurance. Comparison websites such as nerdwallet.com or creditcards.com can help you find the best card for you.
www.mrcoolmoney.com 316.928.8567
14. Adopt a hands-off approach to investing.
Unless you love studying annual reports and quarterly earnings statements—and even if you do—you’ll probably be better off investing in index funds and other types of securities that reflect the market broadly, instead of one or two companies.
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15. Minimize your fees.
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16. Calculate your own retirement number.
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17. Check your social security statement online
The Social Security Administration used to mail out state- -PYZ[ *H[OVSPJ :SV]HR -PYZ[ *H[OVSPJ :SV]HR 3HKPLZ (ZZVJPH[PVU ments explaining estimated benefits to workers each year. 3HKPLZ (ZZVJPH[PVU RI WKH 8QLWHG 6WDWHV RI $PHULFD RI WKH 8QLWHG 6WDWHV RI $PHULFD %HDFKZRRG 2+ %HDFKZRRG 2+ Now, online statements have replaced the paper ones. Go 0HQ Â&#x160; :RPHQ Â&#x160; &KLOGUHQ 0HQ Â&#x160; :RPHQ Â&#x160; &KLOGUHQ to socialsecurity.gov/mystatement/ to check your estimated future benefits. )RU PRUH LQIRUPDWLRQ FDOO \RXU ORFDO )&6/$ LQVXUDQFH DJHQW )RU PRUH LQIRUPDWLRQ FDOO \RXU ORFDO )&6/$ LQVXUDQFH DJHQW
18. Live with family members
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APRIL 2014
While debt has earned a bad reputation in the wake of the subprime mortgage crisis, managing credit and even taking on some debt can be useful. Mortgages allow people to buy homes and student loans enable people to go to school. Evaluate your own debt decisions by considering the pros and cons carefully.
You can keep
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The lack of job security in todayâ&#x20AC;&#x2122;s market means anyone could lose their job or face a salary cutâ&#x20AC;&#x201D;outcomes that can be eliminated hrough a second source of income. If not another job, try starting a small business.
Car Loans 2.15% CBTFE PO DSFEJUXPSUIJOFTT
FINANCIAL FREEDOM EXPO
Stores are in the business of getting us to spend money, but if we know their tricks, we can better resist the temptation. Rewards cards, enticing smells (such as cinnamon around the holidays), and short-term flash sales are a few of the techniques that retailers use; being aware of them can make it easier to just say â&#x20AC;&#x153;no.â&#x20AC;?
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Great Rates 7 Great Deals
FINANCIAL FREEDOM EXPO
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APRIL 2014
8
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