Financial Literacy
Financial Literacy means financial empowerment and wellbeing. We can all benefit from financial health.
In Learning Lab 5: Rural Change Makers were invited to learn about financial literacy to empower us to make informed financial decisions. A team of professionals including certified financial trainers from Libro Credit Union, Your Neighbourhood Credit Union, and First Ontario Credit Union offered financial education training in topical areas self identified by change makers using a concept called Each One Teach One (EOTO). Each One Teach One is built on the approach that in communities when one individual gains access to important information, they now own the responsibility to share that information for the betterment of the community. This is a meaningful approach to knowledge sharing, as well as to learn through application. As part of the learning Change Makers were assigned to groups to build financial literacy skills in the following areas:
- 1. Understanding Contracts
- 2. Loans – costs and obligations
- 3. Debt Smarts
- 4. Introduction to Basic Budgeting
- 5. Building a healthy credit history
Greater understanding of financial literacy helps each of us create a solid foundation for our lives, careers, futures goals and project plans, ensuring we can work to minimize barriers, narrow gaps and ser ourselves up for success.
Fund Development
With a better understanding of financial literacy, we then began to explore the nuances of inclusive fund development, philanthropy and fundraising with expert Tanya Rumble. Tanya’s work as professional fundraiser has earned her the title of “One of Canada’s Most Powerful Women” and she coached us in the following areas of importance:
- – Philanthropy myths
- – Fundraising principals
- – Donor engagement and development
- – Volunteer management
- – Non-profit strategic planning
- – The role of storytelling in fundraising
- – The Pyramid of Giving
The Principals Tanya shared were incredibly helpful in our understanding of the power of giving and why it doesn’t have to be an uncomfortable experience.
- People Give to People: storytelling and personal connection are incredibly important when sharing the need, impact and why we are asking necessary
- Much Comes From Few: the 80/20 rule helps to identify the area where effort can be applied for the most impactful outcome
- Wealth is Not Always Obvious: don’t assume someone can’t make a significant gift. Try to be aware of our own bias.
- It’s Not All About Money: relationship building and volunteerism is incredibly important
- Fundraising Is Not A Standalone Activity: there are many ways that value can be added and awareness can be increased for an organization
- Philanthropy Is Something To Be Proud Of: giving to a cause that you are passionate about is powerful and fulfilling
Philanthropy is not just about giving. It is about the love of humanity
Change Makers were mentored with a wealth of information on the principals of fundraising, power of storytelling, and relationship development, and were tasked with questions to help get us in the mind frame of what we would do and say in the position of fundraising for our own cause. Fundraising is a key area that will be helpful for Change Makers in their respective roles and for their journey as they envision and build community projects.
To learn more about the work of Each One Teach One and how to get involved visit https://eotoworkshops.ca/
To learn more about inclusive fundraising and the work of Tanya Rumble visit Recast Philanthropy
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