Helping Women Help Themselves Summer 2015 From our Founding Mothers Incredibly, Budget Buddies will soon end its fifth year! When we started, the world economy was still in the grips of the Great Recession, many nonprofits struggled to stay afloat, and it had become clear that few people had the skills to manage money effectively. With help from many dedicated volunteers -- and an increasing array of corporate sponsors, private funders, and individual donors -- we have since launched 27 customized programs for 16 social service agencies, trained and supported more than 180 coaches for those programs, and served more than 300 low-income women in Eastern Massachusetts. Starting with four workshops in our pilot program, we now offer 16 each of which is tailored to an increasingly diverse set of participants. Over the next year, we will be reviewing our entire curriculum and all of our materials to meet the widening needs of our buddies. From our original home in Lowell, we have taken our programs into other communities such as Lawrence and Acton. In a new consulting initiative, we are helping a food pantry in Newton and other groups develop their own programs. With recent donations from the Theodore Edson Parker Foundation, the Joann Weber Charitable Fund, and many generous corporate sponsors (see page 5), we are planning additional programs in Lowell, Lawrence, and other communities in Eastern Massachusetts. (Watch our Facebook page for more details ) We re excited to meet the new buddies and coaches who will join these programs and welcome back returning coaches who will lend their wisdom and experience. If you, or someone you know, would like to coach or help in other ways, we can be reached at 978-703-0820. Have a great summer! --Anita and Kathy We Gain as Much as We Give A Few Words from Our Coaches By Laurie Barker See page 2 >> Jackie and Liz: Five Years Together and Counting By Paula McCarron See page 3 >> Partner Spotlight: EILEEN FISHER A Powerful Force for Change By Tom Hanlon See page 4 >> 1
Congrats to our Newest Grads We proudly announce the graduation of our first class of buddies from Alternative House, a transitional living program in Lowell for survivors of domestic violence, as well as the graduation of buddies from our first Spanish-language program, which served clients from Acre Family Child Care in Lowell. Our deepest thanks to all the coaches, whose energy and commitment made these programs a huge success, and to our dedicated program leaders: Lisa Whittemore and Patricia Greiff. Budget Buddies Staff Anita Saville, Executive Director Kathy Brough, Director of Operations Julie Lemire, Coaching Coordinator Katie Neville, Business Manager Katie Stoll, Program Coordinator Budget Buddies Board Nancy Olt, President Cathy Jenkins, Vice President Sarah Ihugo, Treasurer Nicole Nguyen, Clerk Brenda Gould Susan Graves Erin Sanor Nathaniel Tilton Robin Toof We Gain as Much as We Give Like many coaches who join Budget Buddies, I wanted to do more than send checks to the organizations I support. I wanted to help someone through a personal connection. Budget Buddies has given me that opportunity. While most coaches hope to share their financial knowledge, they have many other things to share as well. Darlene Hagan had moved away from home when she was very young and believed she had real-life experience to offer. Gina Kucker was once a single mom who felt she could relate to women in the program. We may come from very different backgrounds, but we as coaches have much in common with our buddies. It is at these intersections where we do their best work together. Lessons for Others For Terry Jounakos, her coaching experiences have been about building relationships and making a difference in her buddies lives. When reviewing one buddy s monthly expenses, she discovered that her buddy had paid $50 in bank monthly fees. Together, they closed that account and opened a fee-free checking account at a local credit union. Even helping your buddy make minor changes like this creates an immediate impact, Jounakos says. I also like that women in the program can teach their children what they ve learned. It s a gift that keeps on giving. Maria Hamilton believes that key lessons involve creating a budget, sticking with that budget, and finding money for savings. Monica Zilinskas, who recently coached a buddy with her own day-care business, found that the marketing activities and materials they designed together helped her buddy expand the business. Lessons for Ourselves In addition to empowering our buddies, we learn about the challenges low-income families face. This has been a wonderful experience, in which you receive more than you give, says Monica Zilinskas. I ve told many of my friends how rewarding this experience has been for me, says Gina Kucker. The little things we take for granted can be passed along to improve someone s life, dignity, self-respect, confidence, and courage. By committing just a short period of time, we can send ripples through a pond that can truly change a buddy s future. 2
Hablas Español? Budget Buddies Needs Bilingual Coaches Help Us Grow Exciting new projects are underway that will help us reach more women in more communities. Our Development Committee is looking for volunteers to work on grant research, corporate outreach, and many other important and interesting tasks related to funding. Want to help? Contact Robin Toof (Robin_Toof@uml.edu). Jacki and Liz: Five Years Together and Counting Jackie Rodriguez and Liz Gustin met at the Budget Buddies pilot program in 2010. They are still working together, five years later. When Jackie started Budget Buddies, she was struggling with bad credit. She had no budgeting skills, no savings account, and no idea what a credit score was. Today, Jackie has established new spending habits, has a savings account, and has improved her credit score. It was scary, she says. But I wanted to do things like take my kids on vacation or maybe buy a house. A Friendship Blooms I had a great coach, and now I have a wonderful friendship with Liz, Jackie says. I think we just hit it off, but I have to admit I was overwhelmed at first, says Liz a financial advisor in Lexington. There was no wiggle room in Jackie s budget. Kathy Brough, one of the founders of Budget Buddies, helped me through my apprehension. A Family Affair Liz and Jackie decided that Jackie would first pay off her credit card debt and build her savings. They also modified some of Jackie s larger goals. While Jackie has not yet taken her family on vacation, she has treated them to a day in Boston to enjoy the Duck Boat tours. Jackie s family has benefitted in many other ways. Jackie s 19-year-old daughter, who lives on her own, recently decided to save for a better car rather than move to a bigger place. Jackie s eight-year-old son used to ask me to buy him things on every trip to the store, she says. But now he has his own allowance and sees that he can have money for something bigger if he saves for it. One of the things I admire most is what a wonderful mother Jackie is, says Liz. Jackie adds that her friendship with Liz was one of the best outcomes from participating in the Budget Buddies program. I m a very private person. I wasn t sure I wanted people to know about my finances. But I took the chance and went to that first Budget Buddies class. And now I m so glad I did. 3
Thanks, Marie! After serving Budget Buddies as a coach, administrative assistant, and volunteer coordinator for the past several years, Marie Hebert has decided to get serious about retirement. We can t thank you enough Marie for helping us get organized and speedily send information to our newest recruits. You will be missed. Want to learn more about Budget Buddies? At our no-obligation Volunteer Information Night (VIN), you can meet staff and experienced coaches who will answer all your questions. We ll also explore other volunteer opportunities. To sign up for our next VIN and get directions, call 978-703-0820. Partner Spotlight: EILEEN FISHER When Eileen Fisher started her company in 1984, she couldn't sew and had $350 in the bank. Today the company is 1,200 employees strong with more than 60 stores in the United States, Canada, and the United Kingdom. Early on, Fisher envisioned a mission that extended well beyond the sale of women s clothing. In 1997 the company launched a Social Consciousness department dedicated to projects within and outside of the organization. The department oversees several grant programs -- including Activating Leadership for Women and Girls, Community Partnerships, and Women-Owned Businesses. The department empowers employees across the company to serve on grant committees and engage with community partners by hosting conversations and philanthropic events in EILEEN FISHER stores. Fostering Personal Transformation "We want to do more than simply raise money for worthy causes," says Reisa Brafman, Leader of Community Partnerships and Women s Initiatives. "We also want to raise awareness about issues." In December 2014, Budget Buddies became one of 11 grant recipients under the Activating Leadership program through a nationwide application process. The program supports organizations that inspire self-discovery and personal transformation and help women and girls find their inner strength and trust their intuition. The Activating Leadership grant committee was impressed by Budget Buddies strategy of reinforcing money-management skills through instructional workshops and personal coaching to help low-income women identify their financial and personal goals and transform lives of dependency into lives of self-sufficiency. When women gain the confidence to make key financial and personal decisions, they are better able to balance the challenges of managing money, raising children, and, sometimes, leaving destructive relationships, Brafman notes. Budget Buddies empowers women to overcome the fear of not knowing what to do. We were also struck by the program s thoughtful partnerships with other organizations to assure that both buddies and coaches have the tools they need for this transformation. Encouraging Social Consciousness Companywide EILEEN FISHER integrates social consciousness into its company culture in a variety of other ways. This includes hiring a supply-chain transparency specialist in manufacturing and a green textile R&D chemist. It also includes the new Vision 2020 sustainability initiative, which engages leaders and team members across the company. My 30-year plan, says the company s founder, is for us to be a powerful force for change in the world. 4
Donations Made Easy You can make a donation online using our secure PayPal account. Just go to www.budgetbuddies.org and click the Donate button. A monthly or quarterly contribution will provide ongoing support for future programs. This Newsletter Brought to You By Many thanks for the fine journalistic contributions of Laurie Barker, Tom Hanlon, and Paula McCarron. Play it Forward 2015 Folk, Rock, and All That Jazz! There are not enough words to thank all who made this year s fundraiser another smashing success. We were again honored to have the amazing talent of Katrin Roush, Myanna Pontoppidan, Charlie, Farren, Amanda Carr, and their band. Special thanks as well to Rep. Thomas Golden, who raised the energy level as emcee, and his amazing co-chair Enterprise Bank SVP Denise Marcaurelle. We also deeply appreciate the generosity of our corporate sponsors: EILEEN FISHER, Digital Credit Union, Enterprise Bank, Kronos Incorporated, NetScout Systems, and Northern Bank and Trust. And, finally, we thank our hard-working Events Committee and staff for your creativity, commitment, and another job well done. 5
Summer 2015 Look What's Happening at Budget Buddies! newsletter Inside: We Gain as Much as We Give Jackie and Liz Partner Spotlight: EILEEN FISHER Play it Forward 2015 Folk, Rock, and All That Jazz Please support the businesses that support our work