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IN THE HOME - Make Money Matter | Shop Cheyenne River

One portion of the Making Waves program focuses on finding alternatives to relying on payroll deductions, predatory lenders and payday advances to purchase goods and services. Avoid getting caught up in a wave of fees and interest charges and plan ahead for financial emergencies by creating a budget to map out monthly spending or by opening a savings account to earn money in interest while putting money away for emergencies.

Make Money Matter program goal: Project partners work together to change 4 policies or practices on the Reservation that expand financial literacy.

Help us reach our goal!
Consider these Make Money Matter activities in your business and home.

1) Challenge employers to offer financial literacy training to:
a) Discuss the proper use and common pitfalls of payroll deductions
b) Explain predatory lending practices
c) Calculate the full cost of purchases made on credit
d) Improve credit scores

Individuals who complete training receive a certificate of completion and the opportunity to send results recorded at all three credit bureaus, which can result in an improved credit score. Contact us if you are interested in hosting a training.

2) Challenge employers to promote alternative payroll deduction practices to:
a) Encourage employees who need a payroll deduction to provide written information from the lender (i.e. furniture store) disclosing the total dollar amount of the item
b) Calculate all projected interest costs, taxes, and fees over the lifetime of the loan

3) Challenge employers to offer a new payroll deduction option to:
a) Encourage employees to make payments to themselves, from their payroll deduction to a savings account, allowing families to maintain their own emergency account
b) Encourage employees to budget ahead for their needs
c) Promote the use of layaway instead of credit cards to avoid paying the hidden costs of purchases-interest, extra payments.

4) Challenge employers to offer regular training and coaching support to:
a) Understand how credit works and how to repair bad credit
b) Calculate take-home earnings after deductions have been taken
c) Determine the benefits of an IDA savings match program
d) Know where to go for financial assistance-not to predatory lenders
e) Understand the advantage of using bank accounts not check cashers

5) Challenge employers to support a Make Money Matters promotion for families to:
a) Encourage staff and consumers to commit to making money matter by signing pledge cards
b) Promote educational information about the program to staff and consumers via mail or e-marketing
c) Encourage family-oriented Making Waves activities by participating in them, encouraging
employees to participate and distributing information about activities.