Fayetteville Public Library collaborated with Credit Counseling of Arkansas and the University of Arkansas (including its Extension Service and its Center for Economic Education) to demonstrate financial planning strategies for households that are living paycheck to paycheck, allowing them to save for future expenses and for retirement. The partners gave particular attention to multigenerational households in neighborhoods experiencing the greatest economic hardship, with the goal of helping to break the generation-to-generation cycle of financial struggle.
Key Activities:
- Partnered with the Arkansas Securities Department to provide sessions on investing basics, investment fraud, and retirement planning, as well as a series designed to demonstrate financial planning strategies for households living paycheck to paycheck. The latter targeted Fayetteville’s multigenerational, low-income families.
- Partnered with Fayetteville Senior Center to host a three-part series on managing a budget during the retirement years, saving strategies for seniors, and avoiding financial scams.
- Conducted events for Head Start families to help parents learn strategies for teaching their children important financial concepts and behaviors.
- With Credit Counseling of Arkansas, delivered “financial bootcamp” sessions on credit, credit repair, reducing debt, and home-buying.
- With the University of Arkansas Center for Economic Education, delivered an afterschool workshop called “Money Doesn’t Grow on Trees,” focusing on money management skills for elementary school age children.
- With the Washington County Extension Service and Woodland Junior High, delivered “Get Real Here’s the Deal” classes for teens. This three-day, hands-on simulation provided young people the opportunity to experience their future in a financial decision-making mode. The program focused on clients of Court Appointed Special Advocates for abused and neglected children.
- With Cooperative Extension staff, organized the teen component of the project in partnership with middle schools in Fayetteville, and conducted events to coincide with eighth-grade career orientation classes. The project partners also facilitated training for middle school teachers.
- Conducted library staff training activities, both in-person and online, with assistance from Credit Counselors of Arkansas, the University of Arkansas Center for Economic Education, and the Arkansas Securities Department.
