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Show Page 8 The Ogden Valley News Volume XXIX Issue XII May 1, 2022 Financial Literacy – Think “Keep It Simple, Stupid” Weber Adult Education Sometimes we need to take a deep breath and consider how best to get control of our lives. When it comes to our finances, there is a lot of conflicting information out there, sometimes making it hard to know what to do. In times like this, I recommend to my clients the KISS Principle – Keep It Simple, Stupid. In my practice as a certified financial coach, I help many people get back to the basics with their money. I have a simple set of “foot stomps” that I use: Communicate with your spouse or partner so that together you have shared dreams, goals, plans, and control of your money. This can be really hard for some people to do. It is the most important thing to do for married couples. Why? Because financial stress is one of the top causes of divorce and relationship issues in America today. Family Budget - Do one and keep track of where you are actually spending your money, every month. With “off the rails inflation,” you may have to cut back on some of the “nice things” in life for a season. In your budget, make sure you are covering your house/apartment, utilities, food, and transportation first. Pay down your consumer debt. Americans ended 2021 with record levels of personal debt ($15.6 Trillion dollars!) Within the family budget, pay off your debt as soon as you can so that you free your income for your important goals in life. Consumer debt hits $15.6 trillion in 2021, a record-breaking increase (cnbc.com). Emergency Fund - Have at least $1000 in the bank, and better yet 6 months of expenses, for the next emergency. Why? So that you don’t go further in debt with credit cards or payday loans when the washing machine breaks, or the car needs a new timing belt, or you lose your job. Have the right insurance in place. Bad things happen to good people. The number one cause of bankruptcy is medical bills. Without health insurance, you risk your financial future. Add in home/renters’ and automobile insurance, to protect your largest assets and liability. And everyone ought to have adequate term life insurance to protect their family if they die and disability insurance in case they are injured and cannot work. See “Top 5 Reasons Why People Go Bankrupt” (investopedia.com). Do a will and tell your family what it says. I’ve got news for you… we all will die. Do your family a favor and get your will done today. Stop making excuses. Make your desires known, so that your family doesn’t have to guess and fight about them after you are gone. Save for Retirement - I find in my coaching practice that Social Security alone is not “retirement with dignity.” I help too many older neighbors who struggle on less than $1,500 a month. Think “Rock, Paper, Scissors” when it comes to your retirement investing. Rock – take all your company’s 401 (K) match. Paper – put 15% of your total salary into your company’s Roth 401 (K) and/or a Roth Individual Retirement Account (IRA). Scissors – if you can’t do a Roth, then save into Traditional 401 (K) or IRAs. For you in the non-profit and public sectors, these might be 403 (B) or Thrift Savings Plan accounts. Goals & Dreams - Write them down, so that you get them done. Make them yours, make them measurable, and have a time limit. For example: “I will have $1,000 in my savings account by June 1, 2023.” So that the next time the washing machine breaks, you can buy a new one with cash. In my experience, success in your financial life is 80% based on behaviors and only 20% on the math. Why? Because for the math to work, you actually have to talk with your spouse, do a monthly budget, decide to and get out of debt, save for emergencies and your retirement, do a will, and get insurance. Without dreams, and plans, and real goals, how will you know where you are going and if you even get there? Once you do all the above, the math usually takes care of itself. Note: Don Hickman is a Dave Ramsey-certified Master Financial Coach. He owns and operates A Helping Hand Financial Coaching in Huntsville, Utah. He has helped hundreds of individuals and couples turn their financial failures into success and despair into hope. Visit him at A Helping Hand Financial Coaching (coachdonhickman.com) or call him at 385-244-0395. Celebrates 60th Jubilee Weber Adult Education (WAE) is celebrating 60 years of providing adult education in northern Utah. All past and present students, faculty, staff and community partners are invited to join the commemorative celebration being held Tuesday, April 26, 2022, from 1:00 to 3:00 p.m. at the L.I.F.E Institute located at the Ogden Weber Technology College campus. On average, it takes an adult learner eight attempts at finishing their high school education. According to Andrea Woodring, Principal of Weber Adult Education, “I’m so proud of our students. The grit and perseverance to finish is commendable and oftentimes, hard won. As a society, we don’t understand the struggles adult learners go through; especially if they can’t read. We are here to help them create a path forward and follow their dreams.” WAE is governed by the Utah State Board of Education and Weber School District. According to the data provided by the Utah State Board of Education, WAE students are excelling well above the state average. WAE is proud of the collaboration with Ogden Weber Technology College, OWTC, and many students are co-enrolled in programs at OWTC. Another key community partner is the Ogden-Weber Community Action Partnership, OWCAP. Many of WAE shared clients participate in the poverty lifting work that OWCAP provides to help individuals and families improve their self-sufficiency. According to Woodring, “We not only close the education gap, but the income gap as well; thus, improving the quality of life for those in our community who did not complete their K-12 education.” According to the U.S. Department of Education, in 2014, workers without highschool diplomas earned $24,000 annually; workers with high-school diplomas earned $30,500; workers who completed some college earned $31,900 and workers with a bachelor’s degree earned $49,900. Woodring also cited that there are approximately 18,000 adults in Weber County who still have not completed their high school education. WAE has graduated 1,628 students over the last 16 years. WAE is part of Weber School District but welcomes students from across the state to enroll in classes. English as a Second Language classes are taught as well. For more information about enrollment, the Jubilee Celebration, or how to support this program, please visit our website at weberadulteducation.wsd.net. Gearing up for a Fun-Filled Summer: Camp Keeps Kids Exploring & Learning All Summer The YMCA of Northern Utah is making plans for the summer and gearing up for summer adventures that will keep kids active, engaged, and healthy all summer long. “Summer is the ideal time for kids to get up, get out and explore, and this is especially true this summer, following a long period of COVID19 precautions,” explains Rich West, CEO. Here are five reasons why children and teens should attend summer camp: 1. ADVENTURE: Summer camp is all about a wide variety of new experiences and exploring the outdoors. YMCA camps have a new adventure for every child and teen. Visit ymca.org/summerdaycamps for details. 2. HEALTHY FUN: Day and resident camps offer fun, stimulating activities that engage the body and mind, and also help children and teens learn the importance of nutrition to help improve their healthy eating habits. 3. PERSONAL GROWTH: While in the welcoming environment of camp, youth have a chance to learn new skills and develop confidence and independence by taking on new responsibilities and challenges. Camps offer cognitive learning and social-emotional development opportunities for achievement. 4. FRIENDSHIPS: Amidst the fun of camp games, songs, swimming, fieldtrips, STEM projects, and talent shows, campers meet new friends and strengthen existing friendships. The bonds formed at camp are important and lasting for many youth. 5. MEMORIES: Summer camp is an unforgettable experience that creates memories (and camp traditions) that will last a lifetime. Youth return to school with plenty of camp stories to share! “The social, emotional, and physical benefits camp provides are going to be more beneficial in 2022 than ever before, and we’re thrilled for another successful summer and to help children and teens build lifelong connections and confidence,” says Rich. “In our day and overnight camps across Northern Utah, kids are in a welcoming environment where they can belong, build relationships and lasting friendships, develop character, and discover their potential.” For additional information, including registration and scholarship information, please visit ymcautah.org or connect with us at 801-4666922. About the YMCA of Northern Utah - For over 128 years, the YMCA of Northern Utah has sought to strengthen communities through youth development, healthy living, and social responsibility. Across the U.S., 2,700 Ys engage 21 million men, women, and children—regardless of age, income, or background—to nurture the potential of children and teens, improve the nation’s health and well-being, and provide opportunities to give back and support neighbors. We are proud to be a part of a nationwide movement that seeks to deliver lasting personal and social change through our programs. Learn more at ymcautah.org. |