Signal Staff Writer
mgasca@the-signal.com
Posted: June 12, 2009 4:22 p.m.
More than 30 local residents gathered at the Valencia United Methodist Church on Saturday not to worship, pray or read the Bible, but to learn about personal finance.
The church's WOW Ministries Team hosted a free personal finance workshop for anyone seeking practical information on how to better understand, organize and allocate money and other resources.
"I just think in these economic times, it's a good opportunity for a refresher course on budget and estate planning," said Pete Brosnan, a Valencia resident and longtime Valencia United Methodist member. "Now that I'm hitting 40 years old, it is definitely a timely topic for us."
Brosnan also welcomed the chance to attend the course with no dent to the wallet.
"Every time I pick up the phone to talk to my attorney, it's $400 or $500 an hour, but to come in here and get basic questions answered for free of charge - it's definitely a great benefit in this economy."
WOW stands for "working outside the walls," a program that evolved from the church members' desire to take their faith outside their services and events and reach into the community.
"Part of our mission is to identify unmet needs in the community and address those needs ... to help people that can use our help," said Nancy Taylor, director of the ministry.
The ministry team hosted a free job workshop in February and surveyed the 85-plus attendees on what other issues they'd like assistance with. Ron Vanek, an event co-organizer, said the topic of personal finance stood out from their answers.
Santa Clarita resident Jennifer Zimmerman is not a member of Valencia United Methodist, but she saw the free workshop as an opportunity to get some long-overdue answers to her questions, she said.
"I don't have a family but I do have property, and I need to figure out what to do with that property when I do - who does it go to?'" said Zimmerman, who learned about the workshop through a WOW e-mail and the sign posted outside the church.
The three-hour workshop featured presentations from several local experts - two of whom attend the church - covering topics including mortgage counseling, credit counseling, personal budgeting and risk management. The workshop also featured a panel discussion, followed by breakout sessions and discussion.
"These days many families, couples and individuals are struggling with their personal finances," Vanek said. "Our goal (was) to give them some basic tips and tools to help them survive and thrive financially.
"We have a lot of talent in this church, especially in the finance area," Vanek added. "We just think it's something the community needs and something we can share with them."
Attendees sat at round tables scribbling notes in notebooks stuffed with resources such as personal-budget and life-insurance worksheets, home-loan modification question and answers and how to check your credit report information.
Speaker Ron Martinez addressed the crowd on personal budgeting, explaining that they cannot control interest rates or the stock market crashing; the only thing they really have control over is handling their income.
As a planning tool, a budget can help one pay one's mortgage on time, decrease debts, prepare financial goals, help one determine wise consumer choices and eliminate wasteful spending, Martinez said to his audience.
"I want to make sure you guys understand that a budget has to be done, as difficult as it can be," said Martinez, who has more than 25 years of professional experience in credit, collections, consumer/real estate lending and more. "Go back and review (your budget) again and again and again to make sure you're sticking with it."
Zimmerman said she found the budgeting information to be helpful.
"It's common sense stuff, but like he said, you have to be disciplined to make it work," said Zimmerman.
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