VM Financial Education to Empower Adult Programme

GOAL

To enhance the financial well-being of individuals through the provision of financial education resources and products that will lead to healthy financial habits and the achievement of life goals, thus improving quality of life.

APPROACH

The Financial Education programme will consist of sessions that may be delivered physically or virtually, covering four modules. It will take a curriculum-based format, designed to guide individuals through the fundamental tenets of financial literacy and financial planning. Each module will be interactive in nature, with worksheets and assessments that will keep participants engaged and connected with the content as they learn.

Participants will have the opportunity to benefit from all the services offered by the VM Group which include:

  • Savings and Loans
  • Mortgages 
  • Wealth Management
  • Retirement Planning 
  • Real Estate Management 
  • Remittances
  • Business and Corporate Services

DESCRIPTION AND RATIONALE 

The key to achieving financial well-being is having access to financial knowledge and tools, and then making a deliberate plan to achieve success. It also requires focus and a commitment to doing what is necessary to achieve one’s goals and dreams. By prioritising one’s goals, creating an action plan, consistently taking the necessary steps and tracking one’s progress along the way, with our help as the expert and caring financial partner, one can accomplish one’s financial objectives. 

The VM Financial Education to Empower series will provide participants with the necessary support to guide them along the path towards making wise financial decisions in order to create wealth and achieve their financial goals. 

OBJECTIVES 

1.     To provide participants with the knowledge, tools and advice to make sound financial decisions. 

2.     To help participants to understand the basic principles of personal financial planning. 

3.     To introduce participants to the VM approach to creating and maintaining wealth. 

EXPECTED OUTCOMES 

At the end of these financial education sessions, participants should be able to: 

1.     Understand key financial principles including saving, investing, and managing debt. 

2.     Create a personal financial plan. 

3.     Understand the process of Home Ownership and acquiring personal loans.  

MODULE 1: ASSESSING YOUR SITUATION AND GOAL SETTING 

Before beginning any journey, you need to understand where you are. Similarly, before beginning your financial journey, you need to assess your situation and set clear goals.  

Someone who is on their journey towards achieving financial well-being, has documented clear goals, creates specific plans for achieving these goals and feels that he or she is making progress toward these goals.  

  • Understanding the financial Life Cycle 
  • Determining your Net Worth 
  • Budgeting 
  • Important Financial Goals 
  • Setting up an Emergency Fund 
  • Children’s and Further Personal Education 
  • Retirement Planning 
  • Home Ownership (to be expanded on in Module #4) 
  • Car Ownership (to be expanded on in Module #4)
  • Setting SMART Financial Goals 
  • The VM Approach towards achieving financial well-being

MODULE 2: SAVINGS AND INVESTMENT 

So, you think it’s hard to save? We know it can be, there’s no doubt about it. But sometimes the hardest thing about saving money is just getting started. That’s right. It can be difficult to figure out simple ways to save money and how to use your savings to pursue your financial goals. However, once you put away those first few dollars, you will be surprised at how quickly they can accumulate. Besides, wouldn’t you want to get some or all of the many benefits of saving? Let’s take some time to delve into the benefits of saving. 

  • Benefits of Saving 
  • Types of Savings Accounts 
  • Difference between Savings and Investment 
  • Understanding Wealth and Money Management products 
  • Protecting your wealth 

MODULE 3: UNDERSTANDING DEBT AND CREDIT MANAGEMENT 

High levels of personal debt and unwise credit decisions can lead to serious financial and emotional distress. However, careful and strategic debt and credit management can be a great asset in helping you to achieve financial well-being. 

  • Types of Credit 
  • Advantages and Disadvantages of Credit 
  • Understanding your Credit History and Score 
  • Credit Cards  
  • How to control debt 

MODULE 4: ACHIEVING MAJOR LIFE GOALS – ACCESSING A CAR LOAN,  HOME OWNERSHIP AND REAL ESTATE MANAGEMENT, RETIREMENT PLANNING

We know that at first glance, owning your own home may seem like a dream that’s impossible to achieve. However, this shouldn’t be the case! Home ownership should be a well-orchestrated plan which is put in place from the moment you have the capacity to start thinking about your future. When you have the right plan and financial partner, it can all come together even sooner than you think; giving you access to multiple benefits.  Once you have acquired your home, it is also important to know how to maintain the value of your investment. Likewise, accessing a car loan and preparing for retirement, involve preparation. 

  • Benefits of Home Ownership 
  • Considerations when Buying a Home 
  • Steps to Buying a Home  
  • Understanding the Mortgage Process 
  • Maintaining and improving the value of your property
  • Steps to acquiring a car loan
  • Planning for Retirement

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