Adulting with Money

Ready for the ultimate in adulting?

If you’re ready to change your relationship with money and radically improve your financial picture while having fun, this class is for you!

There’s lots of buzz around the word “Adulting”.  For those of you who haven’t heard it before, the Urban Dictionary defines it as: “Adulting (v): to do grown up things and hold responsibilities such as, a 9-5 job, a mortgage/rent, a car payment, or anything else that makes one think of grown-ups.”

One of the most critical skills for adulting is knowing how to effectively manage your money. There are lots of reasons it’s a struggle for Millennials (and the rest of us!).

#1 Basic Financial Literacy…

has been taught in very few schools and money skills such as how to stay out of or pay off debt (including Student Loans), how to obtain a good credit score, selecting the rights funds for your 401k plan, making the right health benefit choices, controlling your investment fees and expenses, managing your career, etc. are critical skills that just aren’t taught – but that will likely define your long-term financial success.

#2 Knowing is not the same as doing.

The theory of successful money management is a lot easier than actually sticking to it daily! Money is a habit and it takes between 6 weeks and 6 months to develop new habits that will sustain themselves.  Also, you don’t know what you don’t know!  So, it’s important to know!

#3 Time constraints are real.

Lives are really busy; dating or marriage, children and/or siblings, parents and/or friends, work, side hustles and a little sleep. This has implications such as a lot more eating out between activities, fast and sometimes impulsive shopping, etc. You’ll need an easy to follow system with the tasks broken into small chunks that can be accomplished in just a little time.

#4 There are lots of competing financial priorities.

Do you pay down student loans, credit card debts, save for a house, build emergency funds or put the money in a 401k?  How do you deal with the car breaking down? And, you need to work some fun goals into the mix for a balanced life.

#5 It’s not much FUN…but it could be!

Who wouldn’t rather just spend time with friends or family out than dealing with finances when you don’t know what to do or how to get to a place of balance?

Club Times:
(meet every 2 weeks plus written check-ins in between)

Sundays: 8:00 pm ET / 7:00 pm CT / 6:00 pm MT / 5:00 pm PT
with Coach Aubrey


Tuesdays: 12:30 pm ET / 11:30 am CT / 10:30 am MT / 9:30 am PT
with Coach Justin


Wednesdays: 7:00 pm ET / 6:00 pm CT / 5:00 pm MT / 4:00 pm PT
with Coach Amy


*Saturdays: 11:00 am ET / 10:00 am CT / 9:00 am MT / 8:00 am PT
with Coach Mark

*This class will meet in person at 4940 W 77th St, Edina, MN 55435, but you can also attend virtually

All classes need a minimum of 8 students to make and are offered virtually via video conferencing.

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Cost: $59 a month... but only $45 for everyone who signs up together!

Recruit your friends to be Money Buddies!

CURRICULUM OUTLINE

These are fun group classes that provide the education, coaching and peer support for taking control of your money for those in the early stages of finances.  Whether you’re in your first real job, looking for a real job or have been in your career for a little bit, but not in control of your money, this class can help you or your loved ones develop the skills to get what you REALLY want from your money. In fact, research shows doing the work with your peers makes it more fun and increases your chances of success.

Session 1: Winning at the Financial Planning Game

You can’t win a game until you learn the rules, who’s on your team and who’s on the other team. This gives an overview of what you will need to learn and sets the stage for the classes to come.

Session 2: Club Orientation & Technology

You will be introduced to the technology we will be using such as Mint.com, online classroom, Advizr software and the Fiscal Fitness Playbook.  We’ll then dive deeper into setting up Mint and your assignments for the week.

Session 3: What do you really want from your labor and money?

We spend a lot of time working to make money and then ignore it…seems silly!  We will dig into establishing what you really want from your money and labor:  Security?  Enjoyment?  Stuff?  Vacations? Stress reduction? Kids?  Home?  Retirement?  A pair of shoes?    We’ll explore and have you define your short term and long term goals with money.

Session 4: Defining and Monetizing Goals

Once you have a sense of goals, you need to project their costs, inflation, and amount to be saved so you can make better financial decisions.  Do I want to eat out and postpone reaching my number 1 goal by a month or cook? Using financial planning software makes it easy.

Session 5: Where does your money go?

The group will share what’s been learned about money in and money out and what was surprising about spending over the last couple of months.  You’ll then identify patterns you want to watch or change.

Session 6: Building a Realistic Budget (aka, Getting Your Money to Do Its Job)

A budget incorporates the expenses beyond the normal routine monthly expenditures like rent, car payments, food, etc.  It needs to include variable expenses such as tires, car repairs, copays, home repairs, family visits, holidays and birthdays.  In addition, you need to plan for goals and build reserves so when life throws curveballs, you can handle them.

Session 7: Debt Management

Debt is giving away future work hours.  If something costs $100 and you are taking home $20 an hour, then you are spending 5 hours to buy it.  If you put it on credit which already has a balance that won’t be paid off for a few years, you could be spending 10 hours to buy and it could really be costing you $200. It might also mean delaying your number one goal by a month.  Is it worth it or would saving up for it be a better choice?  Learning to think about your spending as choices and wisely using credit makes sense.  Strategies for paying down debt, including student debt are also covered.

Session 8: Managing your Credit Score

Having a good credit score is worth about $67,000 over 20 years.  That’s a lot of money!!!!!! Credit impacts the cost of your car insurance, whether you’re hired, and a host of other items besides the actual interest rates you pay.  Learn what you need to know about managing the credit score.

Session 9: Investing

Learn the basics of investing and how to select between various options offered in employee benefit plans.  Understanding fees in investments along with asset allocation will be covered along with account types such as Roth IRAs, Traditional IRAs, 401ks, and brokerage accounts.  Knowing when to use which one can help you achieve your goals more efficiently.

Session 10: Risk Management

Insurance can be confusing and costly or confusing and a miracle worker.  There’s a reason insurance exists…it’s because you don’t want to have a financial crisis at the same time you are going through another crisis.  Whether it’s serious medical problem, car accident, damage to a home or property, a death or lost job, you need to be prepared for what life throws at you.  This class covers insurance basics, legal document basics and how to prepare for crisis.

Session 11: Evaluating Employee Benefits

Your benefits can represent 20% of your income so learn how to maximize the benefits and make selections on health insurance, HSAs, FSAs, disability, life, and savings plans.

Session 12: Approaches to addressing financial issues

Money is totally intertwined in our lives.  As you go through phases such as entering serious relationships, building a joint future, buying homes, having children, selecting and/or changing careers, moving, illnesses, legal issues, aging parents, etc., it’s important to have a pattern that will honestly and directly assess financial impacts and your choices.  This class explores HOW to explore the issues, when to see professional help, and a process for addressing issues.

Club Times:
(meet every 2 weeks plus written check-ins in between)

Sundays: 8:00 pm ET / 7:00 pm CT / 6:00 pm MT / 5:00 pm PT
with Coach Aubrey


Tuesdays: 12:30 pm ET / 11:30 am CT / 10:30 am MT / 9:30 am PT
with Coach Justin


Wednesdays: 7:00 pm ET / 6:00 pm CT / 5:00 pm MT / 4:00 pm PT
with Coach Amy

Audulting_Graphic_for_Website_6-2-17

Cost: $59 a month... but only $45 for everyone who signs up together!

Recruit your friends to be Money Buddies!