Balancing a checkbook isn’t rocket science, but millions of American women report feeling overwhelmed and undereducated when it comes to basic financial literacy. For 32-year old Jordyn Aldrich, uncertainty about her ability to transition from renting to buying a home last year led her to enroll in a local program called “She Means Business.” It’s a free course offered by Habitat for Humanity of Summit and Wasatch Counties to help women make smart decisions about money.
“I took home a lot of what I learned and applied it to our individual finances," said Aldrich. "Just sharing the budget layouts and just getting a better handle and understanding of where our monthly spending is going, we spend on what, so we could get ready to buy a house.”
Aldrich credits the course for helping her develop a roadmap to purchase her first home earlier this year. “It truly changed my life. Discovering the way that I viewed money, how I treated money, my whole relationship with my financial situation changed.”
Habitat for Humanity first launched “She Means Business” in 2017. Last year, roughly 120 women participated, ranging in age from early 20s through retirement. Habitat hopes to reach more women this year by putting the course online. “She Means Business” will be offered on Zoom starting Wednesday April 26.
Meagan Nielsen, Administrative Services Manager at Habitat, said that women of all ages and stages of life are invited to join. “They're just some things that they've never done before whether it be taxes or just simply doing a monthly budget they have never opened a new bank account. Maybe it's because they're younger, maybe it's because you know their partner has been doing a lot of these basic things that we should all know, need to know, but have never been exposed to or had the experience.”
In addition to basic budgeting and financial goal setting, session topics will include personal credit and how to navigate loans and debt. Said Nielsen, “We look at the ins and outs of credit, what it means, how you can improve it, and how you can remove negative or incorrect things from your credit report. We’re looking at how to manage your debt. What we are working on through this course are the basics of all things financial that we don't really get anywhere else in the world.”
Since the course is hosted by Habitat for Humanity, homeownership and the mortgage process is on the agenda. Executive Director of Habitat, Shellie Barrus, will lead that class. In addition to Barrus, female business experts from Summit and Wasatch counties volunteer their time to teach. This year, instructors include Lindsey Powers from America First Credit Union, and Nanette Bush from Fairway Mortgage Corporation, and Park City-based financial advisor Kathleen Barlow, who helped Barrus launch the financial education series and has been instrumental in creating the curriculum since 2017.
Dena Boniface, who works at Park City Municipal, took the course in 2022. She said she wished she had taken it years earlier and it made her realize she should advise her children to start taking control of their finances and being aware of their credit habits early in life.
Megan Nielsen said that is the goal.
“None of these concepts are rocket science but they are so important and really life changing when you can walk away with a tool to make sure that you're financially set.”
“She Means Business” will take place Wednesday April 26, May 3, May 10, May 17, and May 24 from 6:00 pm - 7:30 pm on Zoom. The 5-week course is free but space is limited. Women who are interested can register online now at habitat-utah.org.
