Workshops Include How to Guard Against Cyber Threats and ID Theft
When it comes to money and finances, some Rhode Islanders still have something to learn. That’s why Providence Community Library (PCL) has teamed with local experts to offer Money Smart Workshops, a series of free, user–friendly workshops April 20-May 18 that provide information about bank accounts, savings, understanding credit, buying your first home, paying for college, saving for retirement and much more. Participants can enjoy light food such as pizza, fruit, sandwiches, cookies and coffee as they learn, depending on the workshop. There is no obligation – just come ready to learn! Money Smart Workshops include presentations suitable for Spanish speakers and youth, as well as crafts for children and are sponsored in part by a grant from Santander Bank.
Money management skills are important for everyone because, for many consumers, making ends meet can be tough. People with low incomes in Providence who live a “cash existence,” are particularly vulnerable to exploitation. According to the Federal Deposit Insurance Corporation’s 2015 National Survey of Unbanked and Underbanked Households, 15.8 percent of households in the Providence metro area were underbanked and 5.7 percent had no bank account at all. Other Providence residents juggle high levels of debt; the average American household with credit card debt has balances totaling $16,748, and the average household with any kind of debt owes $134,643, including mortgages (according to a 2016 study published by Nerdwallet).
There are more than 30 Money Smart Workshops to choose from, including presentations by Santander Bank (banking, homebuying), Rhode Island State Police(Cybersecurity, ID Theft), the Student Loan Authority (Financing Higher Education), Apella Capital (Top 5 Healthcare, Social Security Mistakes), WD & Associates (Navigating Medicare), Providence Housing Authority (Repairing Credit), Eco-Depot (recycling, composting) and Bank of America (Basic Banking for Kids). For a complete list of workshops and downloadable copies of the Money Smart Workshops flyer and poster, visit www.provcomlib.org/money
PCL’s Money Smart Workshops are part of MoneySmart Week, a national initiative created by the Federal Reserve Bank of Chicago to help consumers better manage their personal finances. You can find useful tips and tools about money at www.moneysmartweek.org.