The CAFÉ TA Center hosted a webinar on financial literacy and money basics, “A Foundation for Your Finances: A Review of the Basic Building Blocks of Personal Financial Sustainability for Peers and Consumers” on Wednesday, January 27th.
Dealing with finances and money management can be intimidating. There are new terms to learn, and a lot of details to account for. Things can be even more complicated for people with mental health conditions who may have inconsistent income and unexpected costs related to services, treatment, or medical copays. The good news, however, is that with a few basic tools anyone can get their finances in order and be better prepared for whatever the future holds.
CAFÉ TAC was joined by special guest Pinnacle Bank VP David Hughes for an overview of the basics of personal finance in this webinar. It explored questions including:
- Why do I need a budget, and how do I create one?
- How do checking accounts, savings accounts, and loans work?
- How do I build credit?
- Where can I turn for help and advice?
Financial stability is an important and too-often overlooked part of mental health recovery. By building financial literacy and developing an understanding of banking basics, mental health consumers can find the peace of mind that comes with knowing where their finances stand, work towards financial goals that will support their recovery, and be better prepared for the unexpected.