Knowledge is Power - Andrea Shares the Secrets to Financial Literacy with Families

We've all heard "financial literacy," but what does it mean? To Mary's Place volunteer Andrea Linsky, it means the tools to have healthy finances, and she believes it's an essential skill everyone should have the opportunity to learn! "There is a lot of basic information that we don't teach people about financial literacy - like how to establish savings, budget, improve your credit score, the difference between good and bad debt, and how to resolve debt," says Andrea.  

Andrea previously worked with Visa to address financial literacy and inclusivity for customers. She's using her expertise to consult with Mary's Place families about their financial situations and answer their questions about improving their finances. "Working at Visa, I saw a lot of folks who were thriving financially because they had access to opportunities to learn financial literacy," shares Andrea, "I think education about how to be financially healthy needs to be more widely available."  

"Last week, I spoke with a Mary's Place guest who needed to build credit to apply for housing and didn't know where to start," says Andrea. "She was overwhelmed and reluctant about getting a credit card because she didn't want to accumulate debt. I talked her through some simple strategies for using a credit card responsibly to build a positive credit history and explained how credit scores work. She left the conversation feeling empowered to take steps towards building credit and establishing healthy financial habits." 

In working with families at Mary's Place, Andrea hopes to break the stigma associated with talking about finances and give more people access to financial literacy and tools for success. "People carry a lot of baggage and shame around money and debt. When I started volunteering at Mary's Place, I wanted to explore how we can unpack that and help people establish better, lifelong habits that don't feel impossible or overwhelming. A lack of financial literacy isn't something anyone should be embarrassed about. If we can remove the stigma, we can help so many people!" 

In addition to free financial and business mentorship with Andrea, Mary's Place guests also have periodic access to financial literacy workshops with volunteers from local banks. Umpqua Bank recently taught guests at our Women's Day Center a series of four classes about budgeting, debt repayment, credit, and opening a bank account. Last year, Pacific Premier Bank taught sixteen financial classes for Mary's Place guests and will introduce another series this summer!