How Rachel uses financial coaching to help women at Vermont Works for Women

Rachel, the Job Developer at Vermont Works for Women, was recently certified as a K.E.E.P. Financial Coach. As part of the economic stability work that she does, Rachel helps women improve their resumes, as well as set and plan for career goals, but recently she was asked to present to a group of women at a domestic violence shelter here in Northern Vermont about money management basics. The women in the group all live together at the shelter and are comfortable and familiar with one another so discussing finances was something they felt able to do together. Rachel decided to use her Financial Coaching skills to help them build skills and learn new tools during her time with them.

For many women domestic abuse and financial abuse often go together. Some of the women in attendance had left difficult circumstances with little or no money because their former partner had emptied their shared bank accounts. Circumstances like these make financial conversations even more difficult because of the strong emotions associated with money.

For the workshop, Rachel set her own goal of sharing some of the basic money-management skills she had learned in becoming a K.E.E.P. Financial Coach:

  • Using a cash-flow spending plan and scheduling bills/expenses to line up with income so you can make it through the month
  • Tracking expenses in order to know where your money is going
  • Saving money for emergencies with a goal of $500
  • Plugging spending leaks, exercising mindfulness around spending, and looking to reduce, not necessarily eliminate, certain spending
  • Making SMART financial goals

Many of the participants had never heard of SMART goal setting. SMART stands for Specific, Measurable, Achievable, Relevant and Time-bound and is used in financial coaching to break down a big goal (I want to buy a house) into smaller goals that work toward that end (I want to raise my credit score 50 points by next May).

One participant was hoping to get her own apartment and the group workshopped her goal to help her break it down into smaller SMART goals with deadlines. They determined how much she would need to save each week, how she was going to logistically make sure that the money was saved – would she put cash aside in an envelope? Open a separate savings account? Could she have a portion of her paycheck automatically deposited? Did she have to visit the bank each week? In the end, the woman left with a step-by-step plan that was tailored to her specific needs, habits, and life, and she knew exactly how she was going to save up for an apartment.

Rachel was glad to see the women each considering how the different skills and tools she brought could make a difference in their specific circumstances.

As a coach, Rachel plans to continue to use these tools with the women she sees one-on-one and other small groups that Vermont Works for Women assists.

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How Financial Coaching helps Faye’s clients improve access to healthy food!

Faye works for the Vermont Foodbank as a 3SquaresVT Outreach Coordinator. In her role she assists Vermonters in completing the 3SVT (formerly SNAP/food stamps) application and advocates for them through the process, she also works to ensure Vermonters are receiving the full 3SVT benefit they’re entitled to. Recently the Vermont Foodbank noticed that there were far fewer Vermonters over 60 enrolled in the program than are eligible. Closing this gap is a focus of Faye’s work.

After Faye joined the K.E.E.P. Financial Coaching Program she wondered how to integrate her new coaching and financial skills into her job. While working with a couple who, at first, seemed like they were ineligible for 3SquaresVT, she realized exactly how Financial Coaching could help her clients. Because of her experience with the intricacies of the 3SVT application process, Faye knew that her clients’ out-of-pocket medical expenses made a difference in their eligibility. While her clients had used budgeting for their monthly bills, they did not keep track of their out-of-pocket medical expenses. When she asked, they did not know whether they were spending $35 or more each month on out-of-pocket medical expenses. Faye realized that she could use her Financial Coaching skills to help this couple budget and track these expenses to ensure that they had the information they needed when it was time to apply for 3SVT.

Faye helped them to create a budget and tracking process for their medical expenses. By working with Faye the couple realized that they were spending above the $35 threshold. By tracking their expenses saving the documentation needed to back up their tracking, they were able to apply and become enrolled in 3SquaresVT. Now they receive over $100 per month in food assistance that they would not have been able to receive if Faye had not been a financial coach and used her in-depth knowledge of the 3SVT application process to find a way to help this couple get the additional food they need.

K.E.E.P. Financial Coaching is a Green Mountain United Way program that trains and supports financial coaches who are client-facing staff in nonprofit and community service agencies throughout our region. These coaches work directly with clients on many issues and as coaches can address financial issues to help address the financial instability at the core of many challenges that clients and community members face.

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Introducing our NEW Volunteer Connection!


We’ve just launched our new Volunteer Connection and are working harder than ever to connect volunteers with their passion to help our community!



Hello,

In the past few weeks we have launched our brand NEW Volunteer Connection platform through our website! Check it out to learn more about the many volunteer opportunities in our communities and find a way to give back that engages your passion and helps your community! There are tons of incredible ways to help, so take a look at our nonprofit partners, the new opportunities, and some of the incredible events that these organizations put on to help them accomplish their mission! This is the best and easiest way to be part of the change that makes our communities thrive!
And, TODAY is Vermont Gives Day! This is the perfect time to support us or your favorite Vermont nonprofit organizations. Check out more about VT Gives Day or donate now

In gratitude,
Carrie Stahler

Director of Funding and Program Development

Green Mountain United Way Updates & Events

 

United Way Day of Caring 2018 
Join us to help clean-up, paint, and landscape at Heaton Woods Senior Residence in Montpelier. There are just a few spots left – Learn more or Register for Day of Caring Now!
 

Congratulations to our NEW K.E.E.P. Financial Coaches!
On May 2 our second class of Financial Coaches completed Intro to Financial Coaching and they are now working with clients in the community. We congratulate each of them for their hard work and thank them for joining us to improve the financial stability of our communities! Read more…

 

Diaper Drive, Saturday, May 19 at The Family Center of Washington County

Did you know that 1 in 3 Vermont families struggle with diaper needs? Support families in the community by dropping off diapers between May 7 – 20.

  • Diaper drop-boxes can be found at Montpelier Shaw’s, Berlin Shaw’s, and at the Green Mountain Transit Office (6088 VT Route 12).
  • If you are unable to donate at these locations, consider a one-time or recurring donation on-line at: fcwcvt.org/donate/
  • Stop by The Family Center of Washington County on Saturday, May 19 to drop off your diapers and enjoy the Family Flea Market!

Nonprofit Partners: Join us for our Quarterly Volunter Coordinator Meeting on Wednesday, May 23 in Barre – RSVP Now!

We are holding a series of quarterly meetings to help share best practices for volunteerism, resources, and encourage networking among volunteer coordinators in our communities. Meetings will alternate between Central VT and the Northeast Kingdom. Please RSVP if you are able to attend.

Community Updates

 

14th Annual Golf Classic
Registration Now Open!

Come golf with us at the Barre Country Club on Friday, August 24 from 10:00am – 5:00 pm. Registration includes cart, meal, and greens fees! Register Now!
Or, consider sponsoring and get complimentary registrations with certain sponsorship levels!

 

Vermont Gives Day 2018 is May 17
All Day TODAY, until midnight tonight, you can support your favorite nonprofit organizations as part of Vermont Gives. Green Mountain United Way is hoping to raise $1000 for our K.E.E.P. Financial Coaching Program to help more families get financial knowledge and support they need to thrive! Learn more about VT Gives here or donate now!

Upcoming Courses for Financial Coaches

 

Advanced Financial Coaching

June 7, 2018 from 8am – 4pm at Capstone Community Action. Find the details and Register now.

Please NOTE – This Course is open to current FINANCIAL COACHES ONLY. If you have not yet taken Intro to Financial Coaching you will not be able to attend this course.

 

Debt Management &
Credit as an Asset

June 19, 2018 from 9am – 4pm at Northeastern Vermont Regional Hospital. Find the details and Register now.

Please NOTE – This Course is open to current FINANCIAL COACHES ONLY. If you have not yet taken Intro to Financial Coaching you will not be able to attend this course.

The Community Campaign closes in June, help us hit our goal of $500,000!
We are so close and need your help to make our goal! Help those in your community and make a lasting impact in health, education, and financial stability!

 

Copyright © 2018 Green Mountain United Way, All rights reserved.
Our mailing address is:

Green Mountain United Way

73 Main Street, #33

Montpelier, VT 05602

Phone: 802-613-3989


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Congratulations to our NEW K.E.E.P. Financial Coaches!

K.E.E.P. Financial Coaching graduates second class of coaches

On May 2 our second class of Financial Coaches completed Intro to Financial Coaching and they are now working with clients in the community. We congratulate each of them for their hard work and thank them for joining us to improve the financial stability of our communities!

We would like to congratulate the following K.E.E.P. Financial Coaches:

Jody Frey of Orleans County Restorative Justice
Chris Wellhoff of Justice Board of Newport
Rebecca Baruzzi of Capstone Community Action
Laurie Kelty of Green Mountain United Way
Melissa Miller of Northeastern VT Regional Hospital
Sarah Sanville of Northeast Kingdom Youth Services
Devereaux Simon of Capstone Community Action
Faye Longo of Vermont Foodbank
Ramsey Papp of Capstone Community Action
Jessica Seigfried of State of VT Economic Services
Eric Luebbert State of VT AHS/DCF/ESD Reach Up
Lydia Menendez of Verde Coaching
Dominic Perkins of Northeast Kingdom Community Action
Chris Kaiser self-employed

We look forward to having each of these K.E.E.P. coaches actively engaged in our program and working directly with clients, peers, and their constituents to help make our region more financially secure for the individuals and families that live here.

Coaches are trained in both in-depth Financial Literacy skills and personalized coaching skills and help clients either as independent coaches or through the work of the nonprofit agency or organization where they work. K.E.E.P. Financial Coaches meet monthly as a group to share best practices, challenges, and lessons learned, and they meet with Pam Bailey, Green Mountain United Way’s Director of Programs and Operations, and the K.E.E.P. Master Coach on a one-on-one basis to build skills, get individual support, and troubleshoot tough situations. Learn more about the K.E.E.P. Financial Coaching Program here.

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