The Paducah Planning Department and Operation HOPE are partnering to host a free financial wellness workshop Thursday on homeownership, credit improvement and smart money management.
The workshop is supported by the Southside Neighborhood Revitalization Plan, aiming to educate community members on home ownership and home renovations. The Paducah Planning Department hopes it will be the first in a quarterly series of events.
“It’s free to anyone, and if you want to come in and learn more about how to make sure that your finances are in order,” Paducah Planning Director Carol Gault said. “We started doing it in conjunction with the Southside revitalization effort, because we want people to purchase homes. We want them to rehabilitate their homes. You know, it’s all about revitalizing that neighborhood.”
Gault said a gap in education at times prevents people from becoming first-time homeowners or prevents homeowners from making renovations.
“What we learned is that oftentimes people don’t know how to purchase a home,” Gault said. “They don’t know if their finances are in a situation if they can afford a home, and there’s more to owning a home than just being able to make the payment.”
Operation HOPE Financial Coach Angie Wilke, a former banker, will lead the workshop. At Operation HOPE, she teaches people about the different aspects of the home ownership process and helps them through that process.
“We educate our clients on what lenders are looking for, how to prepare for pre-approval and how to avoid common financial pitfalls,” Wilkie explained. “Our goal isn’t just to help someone buy a home, but to help them become, you know, long-term successful homeowners who feel confident managing their finances. So, everything that we do is confidential and free of charge, at no cost to the client. And we work closely with trusted community partners, lenders and housing programs, to connect clients with real opportunities once they are ready for home ownership.”
Wilkie said that while information and education on the economics of owning a home are important, those subjects are not always taught in schools. She said she hopes to bridge that gap and help people achieve the “American Dream” of owning a home.
“You take someone, they go to school, and they go off to college, and then they’re just thrown out into the world, and they have no education on budgeting, savings, loans, borrowing money, you know, none of that,” she said. “So, I think it’s extremely important to teach. And I wish it would be something that would be mandatory, that everyone would have to do just to help them, so that they understand what financial literacy means.”
Gault emphasized that the class is free and that anyone is welcome to attend.
“I think people may be a little intimidated,” Gault said. “People may not have extra money to join a class and be able to do that if it were not free. If you’re in a financially strapped situation, or you’re really struggling trying to make ends meet, we want to offer help and not be a burden, and we didn’t want that to be a barrier for people to be able to come in and learn.”
The class is scheduled for 6 p.m. Thursday at the CFSB Community Room at 2550 Irvin Cobb Drive.
