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Waukesha financial literacy program teaches SMART money goals
A group of people in Waukesha are continuing their financial education through a unique graduate program.
WAUKESHA, Wis. - A group of people in Waukesha are continuing their financial education through a unique graduate program.
Financial education
Local perspective:
Once a month, a room at Waukesha’s First United Methodist Church is packed with dozens of people looking to continue their financial education.
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"I actually heard about it from a friend," Kim said. Kim, who asked that FOX6 News not use her last name for privacy reasons, is in the Staying Ahead program offered by St. Vincent de Paul of Waukesha County.
"I was able to get some financial guidance with my mom. Which is good. Not everybody has that. But I still went through different times in my life as a single parent where I struggled. It was impossible not to."
‘Staying Ahead’
The backstory:
Kim previously completed a 16-session course called "Getting Ahead." FOX6 Cents profiled that group last year. Participants spend months putting together a personal financial plan. When they finish, they have an opportunity to continue for another year in "Staying Ahead."
"Even when people sign up for this workshop, we have people who will say, ‘I don't have anyone I can list as my emergency contact.’ By the end of this, not only do they have an emergency contact, they have a mentor and a team who is celebrating their successes," Community Initiatives Director Jodie LaChapelle said.
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LaChapelle said the big difference in the graduate program is that each participant is paired with a mentor.
Kim: "They really help you stay focused, keep you on track. It’s like a little boost when you just need it. I think ‘I did enough for this week,’ then I think ‘well, I know I’m going to see her in a couple of days.’"
Bret: "It’s that accountability!"
Kim: "It is. I better make sure I’m working on this."
Volunteers step up
Dig deeper:
When the original FOX6 News report aired, it had an unexpected impact. Jan Brezina was watching and called St. Vincent de Paul the next day to become a volunteer. She wanted to share her decades of knowledge from working in banks with others.
"I had heard about the program and I was just recently retiring – I come from a financial background," Brezina said. "Listening to the stories from the different people. They come from all walks of life. They are extremely creative in making ends meet."
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Lynn Tompitch is another mentor with the program.
"I think if everybody took a little bit of time to connect with somebody who is struggling – we would be in a better world," said Tompitch. "I think it’s actually easier to sit down and work with a stranger – if you want to say stranger. You slowly become friends.
"If you’re faith-based, one of the major commandments is Love your Neighbor as Yourself. Well, who is your neighbor? To me – it’s everybody."
SMART mentors
Why you should care:
Some of the people Tompitch mentors are trying to overcome homelessness, credit card debt, or simply managing expenses. Each mentor encourages participants to set SMART goals. SMART is an acronym, and something each person can incorporate into their own financial plans: Specific, Measurable, Achievable, Related to the goal, and Timebound.
"We want to avoid it being like a New Year's Resolution where you say ‘This year I’m going to make more money.’ What does that look like? How are you going to do it? That’s where having mentors who can walk with them in that process is really helpful," LaChapelle said.
LaChapelle said 150 people have taken the Staying Ahead support program. Of those 150, 12 have returned to take leadership positions like facilitators and mentors. Kim has a goal to become a homeowner. "They are giving up their time to come to a program like this – it’s appreciated. It’s valued and appreciated, and they are part of my growth," Kim said.
Kim said these mentors impact her, which has a direct effect on her kids, her family, her neighborhood, and community.
"Our whole goal here at St. Vincent de Paul is neighbors helping neighbors," LaChapelle said.
Portions of this article were formatted using A.I. FOX6’s Bret Lemoine and an editor reviewed it for accuracy and tone prior to publishing.
The Source: Information in this story was gathered from FOX6 News interviews, St. Vincent de Paul of Waukesha County and prior FOX6 coverage.