Thanks for being a G2080 Mentor.
Here’s a quick outline for Year 1:
Year 1, Quarter 1: Getting Started
The basics. Rapport-building (for mentors). Opening a dedicated savings account. Setting up direct deposit.
Cumulative Goal: $240
Year 1, Quarter 2: Give Yourself Credit.
Good credit hygiene. Mentor-led credit report repair. Understanding credit scores, using “free credit; auto financing. The lost opportunity of high-interest credit.
Cumulative Goal: $520
Year 1, Quarter 4: The Value of Goals
Setting annual short-, medium-, and long-term goals for the next year.
Cumulative Goal: $1,040
Year 1, Quarter 3: Take it to the Bank
Using banking accounts with intent. Bank account structure, managing weekly cash flow.
Cumulative Goal: $760
Here’s a quick outline for Year 2:
Year 2, Quarter 1: Let’s Go Home
Home ownership as a wealth-building exercise. Types of loans. Down payment. Home ownership.
Cumulative Goal: $1,280
Year 2 Quarter 2: Being Prepared
Life insurance. Beneficiary designation. Wills. Powers-of-attorney.
Cumulative Goal: $1,560
Year 2, Quarter 4: You Made It!
Time to celebrate!
Cumulative Goal: $2,080
Year 2, Quarter 3: Investing for the Long Haul
Investing 101. Understanding the many types of investments beyond bank accounts. 401(k). IRA. Roth. Mutual funds. Transitioning from savings to investing.
Cumulative Goal: $1,900
July, 2021 Mentor “Office Hours” Session
Standard CWC Budget Sheet
CWC Financial Advisors use this worksheet in one-to-one settings to create spending analysis and budget for advanced financial clients.
Download Excel Spreadsheet Version
Click Here for a link you can send your client to complete the budget information online.
Short-form Bi-Weekly Budget Sheet
An abbreviated version, in Excel Spreadsheet format, to assist client in planning for irregular income and expenses.
Download Excel Spreadsheet Version
CWC Payday Planner
A year-long calendar to map pay periods and assign expenses to each paycheck. An excellent tool for someone with regular, predictable pay.
CWC Debt Settlement Worksheet
A simple worksheet to assist a client in determining how to pay off debts. Includes instructions on how to work with a collection agency.
How to Read a Credit Report
Quick, two-page summary provided by Credit Karma on the basics of reading a credit report.
Sample Trans Union Credit Report
Generic samples of the Trans Union credit report format.
Sample Credit Karma Credit Report
Generic samples of the Credit Karma credit report format.
Mentor Curriculum Guide
A guide to topics to work with your cohort member, and points requested to be covered.
CFPB Goal-Setting Guide
Information on how to start setting personal financial goals.
Download CFPB Goal-Setting Guide
Credit Score Calculation Sheet
A graphic showing estimated methods for calculating credit scores.
Income Tax Refund Planner
Here’s a worksheet for assisting a client in planning for an income tax refund.
Resources
Mentor Role Play Scenarios
Some situations you may run into while working with your Generation2080 client.
Reading and Information
The Racial Wealth Gap
Take a look at Asset Types Held by Race by Jenna Ross, author at Visual Capitalist.
Understanding Credit Reports
A comprehensive set of resources provided by the U.S. Consumer Financial Protection Bureau on understanding credit reports and scores.
Examining the Black/White Wealth Gap
From the Brookings Institution examining the Black-White wealth gap.
Address Economic Equality in America
34-minute podcast from the Washington Post on the extremes we see today.
Nine charts about wealth inequality in America
Wealth inequality in America via the Urban Institute.
Spotlight on the Economic Divide
3-minute segment from NPR.
Got a question or idea?
Here’s a quick link to get a message to us. If something comes up, just complete the attached and Madeline, Joe or Chuck will be in touch with an answer.