1. www.ohiofoodbanks.or g www.mybudgetcoach.or g Chrisann Leaman, United Way of Greater Stark County Jessica Weitthoff, Ohio Association of Foodbanks Financial Wellness: MyBudgetCoach

2. Learning Objectives Who is your financial expert? Learn about resources so you can answer your financial questions Understand MyBudgetCoach and how to get involved Slides can be found: goo.gl/KcXBc6 2

3. Kahoot.it Test Run Let’s play a game. 3

4. Let’s Play A Game! 1.Take out your phones and go to: Kahoot.it Kahoot.it 2.Enter your favorite food followed by a number that means something to you 3.Enter the number on the screen when asked. 4.You will see the actual questions up here. Pick the color/shape that corresponds to the right question. 4

5. 3 Main Reasons Why People Don’t Do Well Financially 1. Failure to plan 2. People are uninformed People are uninformed 3. People are misinformed People are misinformed 5 Royce, C. (May 15, 2015). [Video file]. Chris Royce - Financial Wellness Workshop Presentation Retrieved from https://www.youtube.com/watch?v=cgLGH_PclBo

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7. Savings 7 Banking Emergency Retirement 529 Plan

8. Where to put your money Savings Emergency Checking Automate direct deposit 8 Ohio Banks Credit Unions community-oriented serve people, not profit

9. 401K 9

10. 529 Plan College Advantage - Ohio’s 529 Savings Program College Advantage Q&A with the IRS Q&A 10

11. Debt 11 Credit cards Bankruptcy Help Rewards House Auto Student loans

12. Student Loans Federal Student LoansStudent Loans FAFSA on OBB FAFSA The U.S. Department of Education will provide help for FREE. Private companies may contact you to help for a fee – it’s not necessary!FREE Y ou for loan forgiveness, cancellation or discharge. Two p opular loan forgiveness programs include: Public Service Loan Forgiveness Public Service Loan Forgiveness Teacher Loan Forgiveness

13. Credit Report/Score 13 Check your credit report for freefree The Fair Credit Reporting Act (FCRA)(FCRA) Federal Trade Commision - Dealing with DebtDealing with Debt Consumer Financial Protection Bureau - How to get and keep a good credit score How to get and keep a good credit score

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16. Tracking Income and Expenses 16

17. What is MyBudgetCoach® Member Skills that members will acquire Coach Relationship Manager Training Support Site 17 Agenda

18. 18 About MyBudgetCoach Online financial wellness tool Client driven Year-long cycle- one module a month Photo Credit: taxcredits.net

19. The MyBudgetCoach® tool helps working families improve their ability to budget and make well-informed financial decisions. Understanding the importance of budgeting is generally recognized as the first step in successful financial planning. 19 MyBudgetCoach®

20. 20 Roles Member - client or customer Coach- facilitates monthly meetings Relationship Manager- runs administrative aspects of the program The site

21. How the MyBudgetCoach program works Client is referred to MyBudgetCoach Program Client will complete the intake process with staff person/Relationship Manger Staff person/ Relationship Manger matches client with coach within 72 hours via phone or e-mail Coach will schedule the 1 st session with client within 1 week Relationship Manager will complete daily check lists verify other reports and will be the 1 st line of support for coaches 21

22. 22 Member Drives the process, makes decisions in each module Works with a coach in-person or remotely Must be willing and able to meet for all 12 sessions and work throughout the year to achieve financial and non-financial goals Computer literacy including a comfort level using a variety of online tools

23. 23 Members should be… Photo Credit: Alan Cleaver Ready to tackle the emotional topic of personal finances Ready to make a year- long commitment Comfortable with a computer Earning an income

24. Develop and maintain a household budget Reduce debt Increase savings Understand ways to improve credit score Increase overall net worth Reduction in delinquent bill payments Build a relationship with financial institution Increase in confidence in regards to personal finance 24 Skills members acquire

25. 25 Coach A coach may be a staff member or volunteer. Once a coach/member pair has been established the coach is responsible for reaching out to the member and setting the meeting date, time and location. Ensure that all in-person meetings are set in an business office or public building (i.e. library, coffee shop).

26. 26 A coach should be…. Be comfortable with a computer Be a good listener Be willing to partner and explore issues with the member NOT tell the member what to do Either be staff members, or volunteers

27. Coaches are required to complete training class Encourage member to set goals and outline strategies Keep all data and information confidential pertaining to the member As a coach you are a catalyst for good financial behavior, delivering the tools and information members need to achieve their financial goals 27 Coach – contd.

28. Relationship Manager (RM) Will oversee recruitment of members and coaches Training coaches Matching coaches with members Monitoring the progress of the member/coach pair as they progress through the program From time to time, the RM will intervene in the coach/member relationship to ensure the pair progresses through the coaching session in due course and running on schedule The RM may also be a coach 28

29. 29 Relationship Manager (RM) continued Contact potential members within one business day to schedule intake Briefly explain the program requirements and expectations Process daily, weekly, reports to keep you up to date and current on all clients and coaches progress

30. 9 Relationship Manager (RM) Handles most of the administrative functions Recruits and pairs Members and Coaches Tracks progress

31. 31 The Site Service delivery site agreement If you become a relationship manager, you become a site Open versus closed Individual sites

32. Coach training Completed in a classroom setting with a MBC certified instructor MBC Coaching Training Manual is available Hands on training, with point, click and entering instructions through several sessions 32

33. Overview of trainings Relationship Manager training (30 minute online training)training Must be a site or associated with a site prior to coach training Coach Training (4 hours)Training 33

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35. General Strategy of Coaching Inspire Empower Guide Restore Engage 35

36. Coaching Guidelines Know your role Resist the urge to fix Retain your inner circle Know your boundaries Keep in mind the emotional ties with money 36

37. How the MyBudgetCoach program works Client is referred to MyBudgetCoach Program Client will complete the intake process with staff person/Relationship Manger Staff person/ Relationship Manger matches client with coach within 72 hours via phone or e-mail Coach will schedule the 1 st session with client within 1 week Relationship Manager will complete daily check lists verify other reports and will be the 1 st line of support for coaches 37

38. Build a good rapport Make the first interaction pleasant and non threatening. This will help the coach understand the clients’ financial habits, attitudes, values, behaviors and emotional triggers. Allow the client to pinpoint their own strengths and challenges and identify changes they want to make; goal-setting. Checking assumptions and suspending judgments is crucial to being a successful coach, Making an assumption, or belief that something is true without evidence, leads to stereotypes. Tie financial topics back to the client’s situation and goals while explaining what they mean for him or her. Avoid judging. Choices are not necessarily good or bad; they depend on the client’s situation. 38

39. MyBudgetCoach® Dashboard 39

40. Some Budget Coaching Soft Skills Remember that you are coaching, not counseling Be someone that listens and asks questions Help the clients refine their own goals, objectives and strategies Someone who also holds clients accountable for their intended goals, providing as sounding board 40

41. Launching a coaching session 41

42. Beginning a session 42 Wow I am so excited! I Know, right!

43. Goal Tracker 43

44. Set financial & non-financial goals 44

45. Enter Expenses 45

46. Create a budget 46

47. Resource Area that includes items for homework assignments, daily budgeting forms, ideas & agreement form 47 Wheel of Money Net Worth Calculator Guide to Financial Services Benefits, Obstacles & costs Worksheet Income Generation Guide Thinking Outside The Box worksheets Financial Organization Strategies Plug Your Spending Leaks Money Gobblers Needs vs. Wants Budgeting FUNdamentals Quiz Budget Coaching Agreement Form Pocket Expense Tracker Calculating Monthly Income

48. Example of a few forms 48

49. Message Center 49

50. Support Site support.mybudgetcoachohio.org 50 www.support.mybudgetcoachohio.org

51. Always Remember…… Your members drive the process. They make the decisions about what actions they want to take. Each member is responsible for his or her own success. As a budget coach, you will simply encourage members to set specific and achievable goals and to outline steps they can take to reach their goals. You will also celebrate with them the progress made along the way toward these goals. 51 Always remember…

52. Always Remember…… When I initially started MyBudgetCoach, my goal was to eliminate disconnect notices. After approximately one year with the program, I not only have no disconnect notices, but I’m paying my bills on time every month, have a standard savings account, have become organized in my finances to the point where I saving for Christmas (I’m trying to have a mostly cash Christmas, a 90/10 or 95/05 ratio). Because of the structure the program gives me, I can afford to pay my monthly expenses with money and even when I “backslide” (which isn’t often) I can identify when the problems and come up with plans to fix them. MyBudgetCoach has been a tremendous help to me and I recommend to anyone who is looking for a turnaround in their finances. 52 A Member’s View:

53. So jump in and become a MyBudgetCoach Site! 53 MyBudgetCoachOhio.org Click on relationship manager Click on training Enter the password _____________________

54. If we made millions…. Athlete who budgeted right Athlete 54

55. Questions? E-mail mybudgetcoach@ohiofoodbanks.org for additional questionsmybudgetcoach@ohiofoodbanks.org 55