Wednesday, January 29, 2025
PNC and United Way collaborated to host an informative Budgeting & Credit Score Workshop at Groveport Madison High School. This event provided families with a valuable opportunity to learn essential financial literacy skills, including budgeting techniques and understanding credit scores.
Breaking Down Budgeting
The workshop focused on various methods of budgeting, helping participants understand how to effectively manage their finances. Presenters covered strategies such as:
The Snowball Effect – Tackling smaller debts first to build momentum.
Prioritizing Payments – Approaching debts from smallest to largest for effective repayment.
Short, Medium, and Long-Term Goals – Breaking down financial planning into:
Short-term (a few months to 2 years)
Medium-term (2 to 5 years)
Long-term (5+ years)
Attendees also gained insights into distinguishing between wants and needs, a crucial step in creating and maintaining a successful budget.
Understanding Credit Scores and Reports
Another key topic was credit scores and reports. The workshop covered:
The difference between a credit score and a credit report.
The proper way to request a credit score.
Factors that influence creditworthiness.
The impact of soft vs. hard inquiries on credit scores.
Participants received helpful guides and worksheets to aid them in their financial journey, complete with resources and contact information for additional assistance.
A Night of Learning and Connection
The event provided attendees with not only a structured approach to budgeting but also practical tools and expert guidance. Professionals in attendance were knowledgeable, personable, and eager to provide additional resources to those who sought further support.
Looking Ahead
Workshops like this reinforce the importance of financial literacy in empowering families and individuals to take control of their finances. Lead The Way, alongside partners like PNC and United Way, remains committed to providing opportunities for learning and growth in financial well-being.
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