Financial struggles can be overwhelming, and at times, it feels like there is no way out. However, with the right resources and support, anyone can take control of their finances and move towards a better future. Grace Mims and her daughter LaShundria “Shun” Mims learned this when they met Penny Southward, financial wellbeing coach from HOPE Inside Regions Bank Roebuck.
Grace had recently been discharged from bankruptcy and was looking for guidance to rebuild her credit. Despite the journey ahead, she knew she had to take the first step to her new financial life with a decision to take action. In the discovery phase of their partnership, Penny discovered that Grace qualified for a special program that would reduce her student loan debt.
She helped Grace apply for the Public Service Loan Forgiveness (PSLF) program waiver, resulting in over $37,000 of her student loans being forgiven. In addition, she provided valuable insights into planning for retirement and making smart financial decisions. As a result, Grace was able to learn how to save and plan for her financial future, not just for herself, but also for her daughter.
Meanwhile, her daughter, fresh out of college, needed help establishing credit. For Shun, working with Penny was a bit challenging at first, but in a good way. Penny helped her think through adjusting from being a college student to an adult with a job, bills, company stock options, and a retirement plan. With Penny’s guidance, Shun learned how to save, invest, and spend wisely, preparing her for the real world of a working woman. She also learned how to balance her expenses between her wants and needs.
At Operation HOPE, financial well-being coaches like Penny provide a holistic approach to financial empowerment. Their goal is to help individuals and families develop financial literacy skills and take control of their finances, and help women like Grace and Shun, take a step forward in the right direction.
Grace and Shun are just two examples of the many lives that Operation HOPE has transformed. If you or someone you know is in need of financial empowerment, contact Operation HOPE today. Together, we can create economic opportunity for all.