money power day 2010 - the Baltimore CASH Campaign

P
O
Y
W
E
N
ER
O
M
DAY 2 010
BOOST Your Financial Well-Being!
Poly-Western High School
Saturday March 13, 2010
9:00 am – 3:00 pm
Money Power Day 2010 1
MECU OF BALTIMORE, INC.
PRESENTS
“The process was much
easier than I expected”
—Paul Merkel
“I can’t believe how
much I was able to lower
my payments”
—Cassandra Haywood-Jones
“With the money I saved,
I was able to redo the
kitchen and increase the
value of my home”
—Mira Johnson
“AMAZINGLY HELPFUL
AND SMART”
—S. D. Lambert
Life can be dramatic. But MECU can help you avoid some of the bloopers with
financial services that help put you in control—like mortgage refinancing
options that can save you money and reduce your overall monthly expenses.
Visit www.mecu.com today for more details,
or call 443-263-8356
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United
States Government. National Credit Union Administration, a U.S. Government Agency. Additional
coverage provided through Excess Share Insurance Corporation to a combined total of at least
$325,000. • Equal Housing Lender – We do business in accordance with Federal Fair Lending laws.
2
03.10
Money Power Day 2010
TABLE OF CONTENTS
Event Schedule
6
Workshop Descriptions
7
Welcome from Congressmen 8
Event Map
10
Exhibitors at Money Power Day
13
Checkup Checklist
14
Taking Control of Your Credit Scores in 3 Simple Steps
16
by Jennifer S. Matthews
Mortgage L ate? Don’t Wait!
MoneY power DaY Foreclosure prevention clinic
saturDaY, MarcH 13, 2010, 9aM—3pM
You Have options
FREE Legal Advice • FREE Housing Counseling
Bring CoPieS oF tHe FoLLoWing
•
•
•
•
•
•
Detailed hardship letter;
Two must recent pay stubs for income verification;
Last two months bank statements;
2007 and 2008 tax returns;
Default letters or late notices from your lender;
Foreclosure notices or threats of foreclosure from
your lender; and
• List of your monthly household expenses.
MARTINO’MALLEY
Governor
ANTHONYG.BROWN
Lt.Governor
Money Power Day 2010 www.mdhope.org
3
4
Money Power Day 2010
Money Power Day 2010 5
event schedule
9:00AM: M&T Bank Exhibitor Hall Opens and Incred-A-Shred
9:30AM: Opening Ceremony (Main Stage)
Money Power Day - All Day Activities
10:00AM – 3:00PM:
•
•
•
•
•
•
Citi Credit Café (Cafeteria – Lower Level)
Benefits Café (Cafeteria – Lower Level)
SECU Youth Zone (Cafeteria – Lower Level)
DHCD Foreclosure Prevention Clinic (Room 203, 204, 206, 208 - Level Two)
Bank of America Free Tax Prep Café (Library - Lower Level)
*Last free tax prep appointment will be taken at 1:30pm
Entrepreneurship Café (Cafeteria – Lower Level)
Main Stage Events:
10:30 AM - 11:00 AM – Main Stage Event Brought to You by MECU
Meet Manage and Mismanage Credit or, Do Opposites REALLY Attract?
11:15 AM – 11:45 AM – Main Stage Event Brought to You by M & T Bank
3 Steps to Building a Financial Legacy for Your Family
12:00 Noon – 1:00 PM – Lunch Hour Workshop
Love and Money with Deborah and Terry Owens, Baltimore’s First Family of Finance
1:15 PM – 1:45 PM – Main Stage Event Brought to You by Citi
Watt Watchers: An Energy Conservation and Financial Education Program
2:00 PM – 2:30 PM – Main Stage Event Brought to You by SECU
Who wants to be a Millionaire?? Young-Money Edition
MECU Workshops:
11:00 AM – 1:00 PM
• Credit and Managing Your Finances (Room 22 – Lower Level)
• Learn to Save so You Can Become an Investor (Room 4 – Lower Level)
• How to Buy a Home (Room 202 – Level Two)
• How to Grow Your Small Business (Room 10 – Lower Level)
• Starting a Small Business (Room 6 – Lower Level)
Workshops for Teens (12 – 18 years old)
Learn about starting a business (including a game for entrepreneurs), managing your money and
establishing good credit.
11:00 AM – 11:45 AM
Managing Your Money and Establishing Good Credit hosted by Academy of Finance (Senior Lounge – Lower Level)
12:00 Noon – 12:45 PM
Learn about starting a business hosted by the Network for Teaching Entrepreneurship (NFTE) (Senior Lounge – Lower Level)
1:00 PM – 1:45 PM
Play the Entrepreneurship Game with Eye for Change (Senior Lounge – Lower Level)
6
Money Power Day 2010
WORKSHOP DESCRIPTIONS
How to Grow Your Small Business
Your business is running and you have
great clients. But now you have more
work than you can handle on your own.
How do you decide what size your business should be and what
directions it should go in? What
resources do you need to make it
happen? During this workshop you
will hear real world experience from
the owner of a growing small business,
learn about resources to help you
network and how to work with your
lender as you grow.
How to Buy a Home
For most people, buying a home is
the biggest investment they ever make
so it’s best to be educated about the
process before you make your purchase.
The presenters will help you understand
the different types of mortgages and
what will work best for you. How to
spot some of the scams that homebuyers have faced. The benefit of working
with a housing counselor and special
programs in Baltimore City that provide low cost loans and grants to make
homebuying easier.
Starting a Small Business You have the idea, you have the
skills. Now how do you set up your
Money Power Day 2010 small business? This workshop
will look at the tax structure that is
best for you, resources to help
you develop your business and down to
earth information to help you
talk with lenders.
Learn to Save so You Can Become an Investor
Have you tried to build up your
savings and feel that it’s impossible?
This workshop will highlight small
ways that you can find money and build
up your savings. Then once
you have some savings, you will want
to learn the basics of safe investing
for the long run. If you start early and
stick to your goals, anyone can
become a millionaire.
Credit and Managing Your Finances
Jennifer Matthews, the speaker for
this workshop, gives numerous
presentations around the Mid-Atlantic
region on understanding credit and managing your finances and always
gets her audience excited. The author
of the new book 12 Ways to Put Money
in Your Pocket Every Month Without A
Part Time Job, Matthews will share
her personal experiences, and those
of her many clients, to help you learn
to manage your money well.
7
8
Money Power Day 2010
THANK YOU
to our generous sponsors and partners
Platinum LEVEL sponsors
Gold LEVEL sponsors
silver LEVEL sponsors
BRONZE LEVEL sponsor
SUPPORTER LEVEL SPONSORS
media SPONSORS
Alpha Kappa Alpha Sorority, Inc., Rho Xi Omega Chapter, BGE,
NeighborWorks America, PNC Bank
partners
Offices of Congressman
Elijah Cummings and
Congressman John Sarbanes
Presented by the
Money Power Day 2010 Mayor Stephanie
Rawlings Blake
Event Production provided by
9
event map
Jay’s Deli
Yo S
ut EC
h U
Zo
ne
Bank of
America
Free Tax
Prep Café
LOWER LEVEL
LIBRARY
NFTE
Marketplace
Main
Incred-A-Shred
10
R
ER
E
H
U AR
E
YO
REGISTRATION
MECU
Youth
Workshop
Money Power Day 2010
event map
92Q
Radio Station
Entrepreneurship
Benefits Café
Café
Self-Tax Prep Café
Citi Credit Café
M&T
Exhibitor
Hall
95.9
Stage
Radio Station
CCCS
Credit
DHCD
Foreclosure
Prevention Clinic
Counseling
Café
LEVEL TWO
KEY
R
Money Power Day 2010 MECU
Workshop
Exhibitor
Restrooms
Lunch area
11
Looking forward to
OPEN A CHECKING ACCOUNT,
THEN BUILD YOUR OWN BONUS.
up to
$100
$25
$25
when you activate
direct deposit1
when you add
overdraft protection2
when you use
M&T Web Bill Pay3
Look forward with M&T.
Everybody could use a little extra cash these days. At M&T Bank, you can get up to $150 by taking
advantage of some great cash bonus offers. You’ll get a cash bonus when you activate direct deposit
on an eligible new checking account, another when you add overdraft protection, and another
when you use M&T Web Bill Pay. Best of all, no matter which extras you choose, you’ll have one
of the most reliable, best performing banks in the country on your side. Make the switch to M&T
today – just stop by any M&T Bank branch, call us at 1-866-236-1281, or visit checking.mtb.com.
One cash bonus per personal checking account for activating direct deposit within 90 days of account opening. Bonus will be credited to the account after the first direct deposit is made and is reportable for tax purposes. Bonus offer
is not available on all checking accounts, may vary by product and region, is limited to one per customer, is subject to change at any time at our sole discretion without notice, and is not available to employees of M&T Bank or any of
its affiliates.
2
One cash bonus per personal checking account for establishing overdraft protection either through a link to an M&T savings account or an Overdraft Line of Credit. Overdraft protection must be established before the end of the month
following account opening. Bonus will be credited to the account within 90 days of account opening and is reportable for tax purposes. Bonus offer is for new checking account customers only, is limited to one per customer, may vary
by region, is subject to change at any time at our sole discretion without notice, and is not available to employees of M&T Bank or any of its affiliates. Fees may apply to use of overdraft protection services. Overdraft Lines of Credit
subject to credit approval.
3
One cash bonus per personal checking account for making three bill payments using M&T Web Bill Pay before the end of the month following account opening. Bonus will be credited to the account within 90 days of account opening
and is reportable for tax purposes. Bonus offer is for new checking account customers only, is limited to one per customer, may vary by region, is subject to change at any time at our sole discretion without notice, and is not available
to employees of M&T Bank or any of its affiliates.
©2010 M&T Bank. Member FDIC. MVDC/GRDC
1
12
Money Power Day 2010
exhibitors
Exhibitor Name
Website Address
2-1-1 MD at First Call for Help
www.uwcm.org/uwcm/2-1-1
54 Freedom
www.54Freedom.com
Alpha Kappa Alpha Sorority, Inc., Rho Xi Omega Chapter www.rhoxiomega1988.org
Baltimore CASH Campaign
www.baltimorecashcampaign.org
Baltimore City Healthy Homes & Communities
www.baltimorehealth.org
Baltimore HealthCare Access, Inc.
www.bhca.org
Baltimore Homeownership Preservation Coalition
www.preservehomeownership.org
Baltimore Housing
www.baltimorehousing.org
Bank of America
www.bankofamerica.com
Belair-Edison Neighborhoods, Inc.
www.belair-edison.org
BGE
www.bge.com
CCCS of MD & DE, Inc.
www.cccs-inc.org
Citi
www.citi.com
College Savings Plans of Maryland
www.collegesavingsmd.org
CollegeBound Foundation
www.collegeboundfoundation.org
Deborah Owens
www.deborahowens.com
Engaging Youth Entrepreneurs for Change (E.Y.E.)
www.eyeforchange.org
Entrepreneurial Development & Assistance Center (EDAC) www.edacmorgan.com
Federal Deposit Insurance Corporation
www.fdic.gov
Goodwill Industries of the Chesapeake
www.goodwillches.org
Habitat for Humanity of the Chesapeake
www.habitatchesapeake.org
Internal Revenue Service/Taxpayer Advocate Services www.irs.gov/advocate/
IRS
www.irs.gov
Live Baltimore Home Center
www.livebaltimore.com
M&T Bank
www.mandtbank.com
Maryland Association of CPAs www.macpa.org
Maryland Association of REALTORS
www.mdrealtor.org
Maryland CASH Campaign
www.mdcash.org
Maryland Dept of Housing & Community Development www.dhcd.state.md.us
Maryland Insurance Administration
www.mdinsurance.state.md.us
Maryland Volunteer Lawyers Service
www.mvlslaw.org
Mayor’s Office & Baltimore’s Complete Count Campaign www.baltimorecity.gov
www.baltimorecity.gov/2010Census
MD & DC Credit Union Association
www.mddccua.org
MECU of Baltimore
www.mecu.com
Neighborhood Housing Services of Baltimore
www.nhsbaltimore.org
Network for Teaching Entrepreneurship (NFTE)
http://baltimore.nfte.com/
Office of the Attorney General
www.oag.state.md.us
People’s Insurance Counsel Division, Office of the Attorney General www.oag.state.md.us/pic
PNC Bank
www.pnc.com
SECU
www.secumd.org
Securityplus Federal Credit Union
www.securityplusfcu.org
Seedco
www.EarnBenefits.org
Social Security Administration
www.socialsecurity.gov
United Way of Central Maryland
www.uwcm.org
Wachovia Bank
www.wachovia.com
Money Power Day 2010 13
check-up checklist
How Healthy Are Your Finances?
Take this quick quiz to see how healthy your finances are. In just a few
minutes, you will know if you are in good shape, what areas need special
attention, and have an idea of some exhibitors, cafes, and workshops to visit
to Boost Your Financial Well-Being!
Spending Plan
Do you have extra money at the end of the month after paying bills?
 Yes
 No
If no, please visit the Benefits Cafe to receive free eligibility screening for income enhancing benefits.
Do you have a savings or checking account in your name?
 Yes
 No
If no, please visit the financial institutions in the Exhibitor Hall to comparison shop and learn more about opening an account.
Credit
Have you reviewed your credit report this year?
 Yes
 No
If no, please visit the Credit Cafe to obtain a free copy of your credit report or visit www.annualcreditreport.com.
Are you paying all of your bills on time each month?
 Yes
 No
If no, please visit the Credit Counseling Café to make an appointment for confidential budget and debt management counseling.
Insurance
Do you have health insurance for you and your children?
 Yes
 No
If no, please visit the Benefits Café where EarnBenefits Screeners will provide free eligibility screening for income enhancing benefits and where Baltimore HealthCare
Access will provide information about family medical assistance.
Do you have life and/or disability insurance?
 Yes
 No
If no, please visit the Benefits Café to receive free eligibility screening for income enhancing benefits.
Savings and Investments
Do you save money from each paycheck?
 Yes
 No
If no, please visit the Workshops and Exhibitors for helpful information.
14
Money Power Day 2010
check-up checklist
Do you have three months of living expenses saved up to cover emergencies?
 Yes
 No
If no, please visit the Workshops and Exhibitors.
Do you know the difference between saving and investing?
 Yes
 No
If no, please visit the Workshops and Exhibitors.
Planning for the Future
Do you save every month for retirement?
 Yes
 No
If no, please visit the Workshops and Exhibitors for helpful information.
Do you have a will, a living will or clearly written instructions about your affairs if
something happens to you?
 Yes
 No
If no, please visit the Workshops and Exhibitors.
Kids and Money
Do you talk to your children about spending money wisely?
 Yes
 No
If no, please visit the Youth Zone and Youth Workshops on Peer-to-Peer Money
Management and Engaging Youth Entrepreneurs.
Do your children each have a savings account?
 Yes
 No
If no, please visit the financial institutions in the Exhibitor Hall to comparison shop and learn more about opening a savings account for your children..
Small Business
Do you want to start a small business?
 Yes
 No
If yes, please visit the Entrepreneur Café and Workshops to find out about available resources and what small business lenders look require..
Do you own a small business?
 Yes
 No
If yes, please visit the Entrepreneur Café and Workshops to learn from an owner’s perspective what works as well as lessons learned.
How Did You Score?
For each “no” answer, use this checklist to determine which areas require the most
attention and visit exhibitors, cafes, and workshops to Boost Your Financial Well-Being.
For each “yes” answer, use the exhibitors, cafes, and workshops to take your financial
health to the next level. As you improve your financial health, check off additional items
on this list.
Money Power Day 2010 15
3 Simple Steps
Taking Control of Your Credit Scores in 3 Simple Steps
By Jennifer S. Matthews
In this economy, cash is king and credit is queen. However, too many people
are ignoring their credit reports because they are afraid to look or think
their situation is hopeless. All credit scores can be improved with a solid
commitment to yourself and the “D” word – discipline!
Credit scores range from 300 to 850, and are reported by the three credit
bureaus: Equifax, Experian, and Transunion. Each of your credit scores may
have a different score because not all creditors report to all three credit
bureaus. The goal is to get your credit scores over 700. Regardless of your
current credit scores, starting to do the right things now and continuing to
do the right things for the next 1 – 3 years will raise your credit scores
probably by more than you expect!
The first step to take control of your credit scores is to pull your credit
reports. You can’t fix what you have not seen! You can get one free credit
report from each of the credit bureaus every 12 months. The only website
to get a truly free credit report is: www.AnnualCreditReport.com.
The second step is to read every line on each of your credit reports and
circle any errors, incorrect information, and items listed that are not yours.
You should write letters to each credit bureau disputing each of your circled
items on the respective credit report. Sample dispute letters are contained
in the Federal Trade Commission’s booklet, Building A Better Credit Report.
This free booklet is available at www.FTC.gov.
continued on page 18
About the Author:
Jennifer S. Matthews is the author of 12 Ways To Put Money
In Your Pocket Every Month Without A Part Time Job.
She is a trained financial coach and motivational speaker.
Visit Jennifer online at www.12WaysBook.com for free downloads
and to purchase the book.
16
Money Power Day 2010
Money Power Day 2010 17
3 Simple Steps, continued from page 16
The third step to taking control of your credit scores is the most important! You are totally in control of 65% of your credit scores! Raise your
credit scores by making sure you always pay every bill on time every month.
On time bill payment is 35% of your credit score. Paying bills on time six
months in a row will start increasing your scores.
Lowering the outstanding balance on your credit cards is 30% of your credit
score. If you cannot pay the entire balance off at the end of the month, work
hard to get the balance down to less than 1/3 of the available credit limit. For
example, if your credit limit is $6,000, you should not carry over a balance
of more than $2,000.
Paying bills on time and lowering outstanding balances add up to 65% of
your credit score. There is no point to paying a professional to repair or
restore your credit scores until you have fully committed to the 65% –
paying bills on time and lowering outstanding balances. Once you have
been successful with these two things for several months in a row, then you
can consider professional credit restoration because you will be doing what
it takes to keep your scores up.
Taking control of your credit scores in three simple steps, simply involves:
pulling your credit reports, reviewing your reports and disputing errors, and
focusing on the two things that make up 65% of your credit scores.
18
Money Power Day 2010
Work together.
Make a difference.
Citi is proud to support the
Baltimore CASH Campaign’s Money
Power Day 2010!
We
commend
them
for
their
efforts to create financial literacy
awareness in the Baltimore area.
© 2010 Citigroup Inc. Citi and Arc Design is a registered service mark of Citigroup Inc. Citi never sleeps is a registered
service mark of Citigroup Inc.
Money Power Day 2010 19
You don’t have to
use a bank if You don’t want to.
www.secumd.org
(410) 487-7328
checking > savings > loans > business accounts
20
Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United States Government
NCUA
National Credit Union Administration, a U.S. Government Agency
Money Power Day 2010