Tangible Assets
April 2016
www.capstonevt.org
Staff: Liz Scharf and Maureen Dougherty
Phone: 476-8493 or 800-639-1053 ▪ Fax: 479-5353
Address: 20 Gable Place, Barre VT 05641
Email: [email protected]
Bank Information for IDA Savings Accounts
Calendar of Events
April 5-May 3—Money Management Workshops—join us!
April19—Update Your Workplace Skills, 3-5pm at CCV, Montpelier
April 20—Lean How to Negotiate for a Higher Salary, 4-6 pm at
Norwich University, Northfield
April 25—Be Heard-Small Business Success, 10:30-12 see article
May 11–June 8—Money Management Workshops will be
repeated on Wednesday evenings from 6-7:30 in Barre
June 14– Aug 9—CCV Course, Increase Your Skills for a Customer
Service Job, Tues & Thurs evenings, 5:30-8 pm
Be Heard-Small Business Success
Learn how to transform your ideas into marketing campaigns that drive action. Then learn how to organize these
campaigns while choosing advertising options that reach
your target market without draining your resources.
Community National Bank
Barre: 316 North Main St., 05641; PH: 476-6565
Hours: M-W, 7:30-5:00; TH-F, 7:30-6:00; Sat, 8-12:30
Montpelier: 95-97 State St. (POB 1437), 05602; PH: 223-0598
Hours: M-W, 7:30-5:00; TH-F, 7:30-6:00; Sat, 8-12:30
North Country Federal Credit
Megan Lewis, 859-7522, Berlin office—interim contact
3336 Airport Rd Suite 100, Berlin, VT 05641
Hours: M-F, 8:30-5:00 (drive thru 8-5); Sat, 9-1 (incl drive thru)
You can make deposits to your IDA account by mail!
Money Management Workshops
Liz has scheduled the next two sets of classes at Capstone in Barre as noted below. Feel free to join us if you
haven’t completed the financial
education for the IDA program or
would like to brush up!
FREE Workshop at Capstone in Barre
Monday, April 25, 10:30-12 noon
Space is limited, please register in advance at http://
insights-llc.com/event/be-heard-small-business-success/?
instance_id=269 or contact Paige Johnson, 882-8191.
Refreshments provided! Contact
us for more information or to register or just show up.
April 5 - May 3: Tues mornings, 10:30-12:00
May 11 - June 8: Wed evenings, 6:00-7:30
Customer Service Skills
Another New CCV Course at Capstone
This is a FREE course beginning June 14th and running through August 9th meeting twice a week on Tuesday and
Thursday evenings from 5:30 – 8:00 pm. This course will help build skills relevant to the retail and service industries. It’s
built on the Ritz Carlton model that empowers employees to own costumer problems and effectively resolve them.
Students will study for and take several Work Keys exams including, career readiness certificates. The course is also a
stepping stone for further education through the state college system. The Capstone computer lab
will be available for student use before class from 4-5:30.
Open to every one! Register today! To enroll, go to https://apply.ccv.edu/career and enter
course code WFE-0600-VM40 when prompted. For more information, contact Kelly Young at 802828-0131. Instruction provided by CCV and funded through a US Dept. of Labor grant. Upon
request, auxiliary services available to individuals with disabilities.
Update Your Workplace Skills
Negotiate for a Higher Salary
CCV is offering a two-hour workshop to provide information about college and training programs. Find out how
these programs can help you get a better job! You will
also receive information about paying for these programs.
This FREE workshop will empower women with the
skills and confidence to negotiate their salary and benefits packages. Lean about the wage gap, determine
what you should get, and practice exercises.
Tuesday, April 19, 3-5:00 pm
CCV—660 Elm St. Montpelier
Wednesday, April 20, from 4-6:00 pm.
Norwich University (Kreitzberg Library), Northfield
FREE and open to the public. Walk ins welcome. Register
or get more information at 828-4060.
Presenter Lindsey Lathrop-Ryan is a career coach and
workforce development consultant. Just show up; refreshments provided.
Habits of People
Who Are Great at Saving
Good savers look for deals
Being frugal is a big part of saving money. And good savers are not too proud to use coupons or hunt down the
best deal before buying. "Good savers think through each
new purchase and research alternatives to make the best
buying decision," Woroch says.
Good savers start now
Good savers start early, say Janet Stanzak and Kristin
Garrett, certified financial planners. Many good money savers were taught as children to sock away for a rainy day
but even those who weren't have learned to jump on an
opportunity. Garrett says. "Good savers don't procrastinate
financial decisions."
Good savers adjust for life changes
Big life changes, like job layoffs, divorces, and illness, inevitably affect our budgets. Good savers amend their spending to reflect their new earning or income status regardless
of how painful it is to acknowledge.
Good savers have a retirement account
It's not new advice but there's a reason every financial adviser repeats it: Because this is your future we're talking
about. A good rule of thumb is to put 10 percent of your
paycheck each month straight into a retirement account,
Garrett says.
Good savers take free money
Does your company offer to match your retirement savings? Do you have flight miles or hotel points accrued that
you're not using? Many people leave this so-called "free
money" on the table. It may take a little extra effort but it's
worth the time.
Good savers know the difference between wants &
needs
One of the biggest lies we're sold today, Stanzak says, is
that wants are actually needs. "I've had so many clients try
to tell me new clothing and eating out are real needs," she
says. "They're really not." Instead, good savers actually
write down a list of their basic needs, their wants, and their
big wishes.
Good savers have 3 to 6 months of expenses saved
Nearly 80 percent of Americans live paycheck to paycheck,
which means most of us are just one bad car accident or
layoff from financial ruin. It may sound obvious but good
savers save. How much savings you need depends on
your lifestyle, but Garrett and Stanzak recommend having
enough money to cover at least 3 to 6 months of basic expenses like mortgage, insurance, utilities, and food.
Good savers don't use bill autopay
Autopay makes banking easier: In fact, it makes it too easy
for money to flow in and out without your really registering
what's happening, Garrett says. Whether it's writing out a
physical check or filling out the form online, intentionally
paying your bills makes your brain note the expenditure.
Even better, she adds, good savers write all those down in
their budget. Which leads us to...
Good savers are honest with themselves
None of us are getting any younger, yet so many people
live in denial of this fact, Stanzak says. The truth is that
each of us has risk factors that could affect financial security. Good savers are honest about their particular risks—
advancing age, tenuous job security, chronic health problems, family issues, etc.—and plan their savings to account
for them.
Good savers have a budget
Yes, a real written chart or spreadsheet that they update
and balance regularly is a trademark of good money savers. "The first clue you have that someone has a problem
with money is when they can't provide their monthly cash
flow," Stanzak says. You can't save if you don't know how
much money you have to begin with.
Good savers do not feel entitled
"Too many people have this attitude of entitlement," Stanzak says. "They get caught up in 'I work hard, so I should
have this because I earned it.'" But if you can't afford a nice
car or a day at the spa, you shouldn't buy it, no matter how
hard you work or strongly you feel you deserve it.
Good savers use cash or checks
This isn't a hard-and-fast rule, Stanzak says, but good savers often tend to use physical types of money. "Research
shows you spend 20 percent more when using a credit
card because it makes purchasing feel less 'painful,'" she
explains.
Good savers prioritize saving
It sounds simple but one of the best habits good savers
have is simply making saving a priority in their lives,
says Andrea Woroch, a consumer-finance expert. "Before
spending on anything else, they pay themselves first in a
retirement account or other savings account."
Good savers keep track of the little things
What's a latte here or a $0.99 app there? Little things can
add up to big expenses quickly, Garrett says, often before
you even realize what's happening. Good savers will write
down in their check ledger or budget all their expenses,
even the tiniest ones.
Good savers use online accounts & credit unions
Online savings accounts generally offer a better interest
rate than traditional brick-and-mortar banks, Woroch says.
"Good savers also shop around to avoid bank fees and
may use a credit union instead."
Good savers make saving easy and automatic
Just as automatic bill pay allowed you to forget the pain of
paying your bills, it works the other way, too. Automating
your savings account, either through an automatic transfer
on a certain day each month or through one of the new
savings apps like Digit, can take the sting out of saving.
Good Savers start small
It can be easy to read lists like this, feel completely overwhelmed, and throw in the towel. But saving doesn't have
to be a huge change, Woroch says. "If you’re new to saving, start small. It’s easier to adapt to a small change," she
explains. "So begin by automating a small amount each
week and each time you become accustomed to living off
what you have left, increase it a little.”