I thought everybody knew that!

My original intent for taking the Money Smart class through FWBAC was to get some credibility behind my business name and develop some additional skills for teaching single mothers and young adults how to manage their money. I feel like the joke is on my because the first day of class today caught me completely off guard.

I knew there would be some introduction of banking terms and practices but never figured we would spend over a hour and a half just getting people to understand their checkbook and registers. I recall learning this in high school and realize how much of a blessing this was. What really made me question if I was starting the right business was when one of my classmates asked if the cents (from the money you record in your checkbook register) goes in the smaller squares or the bigger one. When she was told the smaller one, she looked so proud that she had written down our practice exercise correctly. That blew me away. Later she shared how she does not have a checking account due to a past bad experience and she works only with money orders.

When asked by the instructor what do you think of money orders, I spoke prematurely and said out loud, "I hate them!" Their ability to be traced if cashed erroneously is near impossible. I knew we would not discuss on-line banking based on the questions coming from our class, but I was hoping we would not discuss the joy in using money orders. At least with a check, you can issue a stop payment and hopefully recover any funds lost.

However, one of my classmates- the 36 yr old that has been divorced two times and is taking the class to improve her credit score- began sharing how people can wash your checks so the ink comes off and make it out to themselves to cash, or if you do not want a person or business you are paying to have your personal information, a money order is better. Who would you pay that does not already have your address that appears on your checks? Washing checks was a new one for me so I will put it in the memory vault to research later.

This was the kicker. An older lady - wants to start a business to display her art- who stated she owned her own business at one time but was never taught how to manage her money so her credit is ruined. She had some other misfortunes but she still stated her overall poor credit history is due to mismanagement of her funds and not having any emergency funds.

This lady became very nervous when we did the check register exercise that involved carrying your balance down each line after four transactions. She stated this is what got her in trouble in the past because she could never tell which amount was her balance. I was puzzled as to why this would be difficult but our instructor, Victoria, handled it with ease and told her that the last number in the column labeled Balance is the amount in your checking account. Then she went on to explain deducting fees and ATM withdrawal fees, etc. The woman seemed a little frustration and thought it would be better for her to highlight the amounts that are balances and she could recognize and read the register better. I am grateful for this lady because if I get a client with the same issue, I will recommend what she does.

After these incidences and all the others in the 2 hr class, I have never felt so stuck-up in my life. Talk about humbling because I did not think of myself being better than these people who had no clue about a checkbook or register; however, I did look down on them wondering how did they make it in life so far without knowing how to do this. Then when some of the people started grabbing all the candy off the table and stuffing it in their purses, I was humiliated. They did not seem ashamed and in fact the instructor began to encourage it along with suggesting they take the leftover sandwiches that were provided. I turned my head from looking to see if anyone did. When walking to my car, I said, why shouldn't they take it since it is being offered? I think my issue was that they could have waited until she offered the candy but it only bothered me.

So as of this evening, everything I thought people knew, I no longer think that way. One of my classmates- single mom who is taking the class to teach her son how to manage money before it is too late- caught a cab home. I thought what dedication she is showing and developed a new respect for her.

Am I grateful I know the things I do which is really not a lot? Yes I am grateful. Can I teach people with little to no financial education and money misconceptions? I believe I can but with a lot of help from God, being compassionate about helping others and convincing my clients of the long-term benefit- the benefit their children and generations to come will experience and the rewards in learning how to manage your money. What an awesome journey I am about to embark on! God keep me in your care!