Sharie Mathiesen, TMCC FLAME$

Below is our interview with Shari Mathiesen, NSHE Specialist II for Financial Literacy & Default Prevention for Truckee Meadows Community College (TMCC).  Shari oversees the FLAME$ program and is in charge of student loan default prevention. Here is our interview…

How has the OA-NV Financial Coach Training influenced your work at TMCC?

The financial coaching I received through OA-NV has influenced my work tremendously.  I now have the tools to assist students in becoming financially fit, as well as helping them find ways to pay for college.  Through the Financial Coaching Training I learned not only financial literacy basics but how values and culture influence financial decisions.  I now have the tools to teach the FLAME$ Peer Mentors how to coach students in financial literacy topics that are important to the

How do you use financial coaching at TMCC?

I use the knowledge I gained to teach the Financial Literacy Peer Mentors here at TMCC to coach and assist students with financial goals.

We use many of the tools highlighted in the OA-NV Financial Coaching training such as the SMART Goal Worksheet, the Financial Wheel, the Money Priorities Chart along with many other activities taught at the training.

I also assist student employees with their own financial goals to help reduce the stress money can cause so they can focus on their education.  When not worried about debt and other financial issues students are usually more successful and are more likely to complete their degree.

Do you feel that financial coaching is effective?

Financial coaching is a very effective tool in helping students learn about money.  We use the Center for Financial Security’s Financial Capability Scale at the beginning and end of our coaching sessions.  Students almost always score higher when completing the scale for the second time.  At TMCC we also conduct an entrance and exit interview to gauge what a student got out of the coaching sessions.  The results are always positive and students leave the sessions with the tools needed to help them be successful with managing their money.

Do you have any comments you would like to share with those thinking of taking the OA-NV Financial Coach Training?

I went through the very first training offered in 2015.  I enjoyed it so much I wanted to repeat it a few years later.  Unfortunately due to time constraints I was not able to do that.  I learned so many valuable skills which a lot of people take for granted.  It is surprising how many students don’t know how to budget and save and don’t know much about about credit cards, and credit reports and scores.  Although learning about money matters is very important, it was the soft skills I gained that were a game changer for me.  Being able to talk to people about money on a level they are comfortable with is invaluable.  Listening, being objective and how to tailor each coaching session to meet the needs of the student are skills that I don’t believe i would have learned in other financial coaching models.

Kathleen Taylor, Nevada Business Opportunity Fund

Here is our interview with Kathleen Taylor from Nevada Business Opportunity Fund…

1. 

   What are the goals of your organization? Our organizational goals are to enhance the economic self-sufficiency and quality of life of low and moderate-income individuals through entrepreneurial training, technical assistance, and access to loans for new and expanding businesses throughout Nevada.

2. How does the organization use coaching? Individual and/or in a group setting? Business and/or personal oriented? We strategically partner with the Southern NV Housing Authority Family Self-sufficiency program and HELP of Southern Nevada to provide their clients with a series of entrepreneurial training as an option to enhance workforce development via small business ownership. Our training incorporates financial literacy within our Access to Capital or Small Business Lending 101 training sessions.
3. How does coaching support the goals of your organization? Financial literacy coaching helps us to prepare our clients to become “lending ready” when they embark upon the process to apply for small business loans to secure start up funding or working capital for their business.
4. What is one success story? So far, we have provided financial literacy training to 20 clients that have participated in our entrepreneurial training customized for clients with the Southern NV Housing Authority Family Self-sufficiency program and HELP of Southern Nevada. We incorporated the financial literacy content within our Access to Capital or Small Business Lending 101 training sessions.
5. What are some barriers you’ve experienced using coaching in your organization? We have to be creative in our approach to incorporate this aspect when counseling our clients. They are specifically looking for core entrepreneurial development training and counseling to start or expand their business. They do not specifically seek our services for “financial literacy coaching”. To address this, we have to be creative in our approach to integrate this element within our Access to Capital or Small Business Lending 101 training sessions. It would be tremendously helpful if Opportunity Alliance NV could create a curriculum for small business development centers, such as ours, that incorporates financial literacy coaching specifically designed for start up and established small business owners preferably in an online-webinar format for convenience and efficiency purposes.
6. Anything you would like to tell future graduates of the OA Financial Coach Training? Be prepared to “meet people where they are” and not where you want them to be during the process to enhance their financial literacy skills. It’s all about the “journey”…not necessarily the “destination”.

Lillian E. Wilbert, Northern Nevada HOPES

Here is our interview with Lillian E. Wilbert from Northern Nevada HOPES…

1. 

   What motivated you to attend the OA-NV Financial Coach Training? I was motivated to attend for several reasons. First, I was informed of the training upon being hired and was scheduled to begin shortly after I started my position, so the timing was absolutely perfect. Second, after researching financial coaching, I felt that offering this service in a financial wellness program was a perfect fit.  After the first day of training, I was convinced that this was going to be an essential tool for my program. The further along in the training, the more certain I became that integrating financial coaching would level the playing field for our patients.  Also, that this service would empower them to take control of their finances, and encourage them to believe in their ability to address financial issues.

2. How do you utilize financial coaching with the NN Hopes clients?  I was hired to build a financial wellness program to help our patients address financial stresses, as there is an undeniable link between financial wellness and health.  I utilize financial coaching as a way to help our patients set and reach financial goals, no matter how small the goal may seem.  By offering financial coaching, our patients have the option to choose a service that would otherwise be unattainable, due to the cost.  I use financial coaching to empower and motivate our patients to take charge of their finances.
3. How does NN Hopes support you in your financial coaching? The support I receive ranges widely, from understanding the connection between health and finances and seeing the need for this service among our patient population, to grant writing support for sustainability. Northern Nevada HOPES is very supportive of my financial coaching and the Healthy Money Habits program as a whole.
4. What is your biggest success to date with financial coaching at NN Hopes?  To date, I have had a few patients who have reached a personal financial goal.  Through coaching, I have seen them surpass their own expectations and as a result, they have gained the confidence to take on additional areas of their finances and address those using tools they have learned through the coaching experience.  Success!
5. Is there anything you would like to share about your experience with the OA-NV Financial Coach Training with those considering it?  I think delivery is very important in the success of any training.  That said, both facilitators for OA-NV’s Financial Coach Training were very engaging, approachable and knowledgeable of the subject matter. They set the stage in the very beginning so that participants felt comfortable and were able to fully immerse in the experience. By providing real-life examples, real-time coaching demonstrations and walking us through several exercises, they made the learning experience more enjoyable.  I learned by doing, and to me, that is very valuable.