Partnering with Wells Fargo to bring financial education to our families

The BASIC Fund's mission is to help families access schools that are the best match for their children. But in addition to providing scholarships to help bridge the gap for these families, we also provide access to important partners who provide support services to BASIC Fund families.  

On April 28, we partnered with a team of financial advisers from Wells Fargo.  The team, led by Joe Schock, facilitated an evening financial literacy seminars for the parents of St. James school in San Francisco. Sister Mary Susanna Vasquez, Principal at St. James, wrote to us the next day, "We were so pleased with the turnout, and with the ease of presenting in both Spanish and English! The parents were very happy to hear the information that was given." 

The team from Wells Fargo discussed a variety of topics relating to financial literacy and helped parents develop a plan for their own families.  The presentation began with instructions on how to evaluate their current state of financial health by creating a personal balance sheet.  It identified common pitfalls like overuse of credit, "keeping up with the Jones's", and spending cash instead of saving.  

The discussion then turned to goal setting.  Parents were asked to identify simple goals for one year and five years from today. The worksheets provided helped map out spending plans, and even helped create monthly budgets. 

At the conclusion of the seminar, the parents asked that St. James and The BASIC Fund consider working with the Wells Fargo team on a financial seminar targeted towards their middle school aged children, in order to start these students off on the right foot when it comes to financial literacy. 

"On behalf of the Wells Fargo team of volunteers, thanks for the opportunity to spend time with the St. James families. It was a rewarding experience for all!" Schock wrote to us in the week following the event. The BASIC Fund is incredibly grateful to the team from Wells Fargo for their time and dedication to helping this population gain better control of their financial well being. We look forward to working with Wells Fargo and facilitating more financial literacy seminars with parents and students at our schools this coming school year.

Posted on July 13, 2016 .