HCCI’s Rental Housing Program Supervisor Teresa Baker authored the article below on the importance and the challenges of the Fair Housing Act, during this month when we remember the passage of this landmark law.

Renters with mobility impairments must live in a ground floor unit to keep them safe.  Families with children can be assigned to a “family building” as children are loud and cause damages.  Individuals who cannot care for themselves cannot live here.  Pit bulls are not permitted as Service Animals in my rental.  Correcting these inaccurate assumptions is what we do in a classroom training or a one-on-one counseling session at Housing and Credit Counseling, Inc. (HCCI).

April 2016 marks the 48^th anniversary of the passage of the Fair Housing Act.  Passed as Title VIII of the Civil Rights Act of 1968, the Fair Housing Act details a national policy of fair housing for all.  While almost half a century of this law has come and gone since it’s passage, there are those in the rental housing industry who continue to struggle with the concept.  That is not surprising, since the protections of the original act and subsequent amendments can be rather complicated.

Landlords, and their expert middlemen, known as property managers, navigate a theoretical minefield of fair housing dos and don’ts.   To top it off, not only must people in protected classes be treated fairly, and rightfully so, but America is a litigious society.  Thus it is vital for those in property management to understand their responsibilities when it comes to the rights and remedies provided to the following seven protected classes based on race, color, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), disability and national origin.  In addition, landlords must acknowledge any local or state protections, for example, military status, sexual orientation or gender identity.

In training and counseling hundreds of landlords and property managers over the past several years, I have encountered ignorance, and even worse, those who have a total disregard for the Fair Housing Act.  Remarkably, after being educated on the possible repercussions, I am taken aback by those that continue to ignore the risk of a fair housing investigation or lawsuit, as the cost of violation is indeed significant.

In contrast, I’ve yet to personally meet anyone undergoing a fair housing inquiry who intentionally violated the Act.  Instead, many involved in a probe are well versed in the requirements.  They either unconsciously made an error, or were accused and there was no validity to the charge.  Regardless, any person involved in an investigation will tell you, even if absolved of all wrong doing, the mere accusation and subsequent investigation was an embarrassing, lengthy and intense nightmare.  Nonetheless, these housing professionals are grateful they were trained to understand their duties to cooperate with the investigation and ultimately prove their innocence.

If you have specific questions about the Fair Housing Act, or want formal training, contact the experts at HCCI for education and options in a free one-on-one telephone counseling session or inquire about classroom education. To learn more about the rental housing services HCCI provides and how to contact a member of the HCCI Rental Housing team, visit the Rental Housing section of the HCCI website at http://hcci-ks.org/programs/rental-housing-counseling.

Teresa Baker
Rental Housing Program Supervisor
Counselor and Educator
Housing and Credit Counseling, Inc.

Cool temperatures and an overcast, but not rainy, sky made the morning of March 12^th a perfect morning to hold the 8^th annual Great Topeka Bed Race. The Bed Race is HCCI’s signature annual community event, held each year prior to downtown Topeka’s St. Patrick’s Day Parade and Celebration.

This year’s event was better than ever. Moving to 10^th Street, directly to the south of the Kansas Statehouse, the new location was great for spectators and participants. This year 22 teams raced, including 9 new teams. Congratulations to the Sports Car Club of America for capturing the coveted crown for the third straight year. This year’s winner for the most cleverly decorated bed, in an equally spirited competition, went to Realty Executives. The top 4, in each category, are below:

2016 GREAT TOPEKA BED RACE RESULTS                2016 BEST DECORATED BED RESULTS

#1           Sports Car Club of America                                  #1           Realty Executives

#2           Burlington Northern Santa Fe                             #2           Westar Energy Linemen

#3           Westar Energy Linemen                                       #3           Kansas Air National Guard

#4           States Construction                                              #4           Silver Lake Bank

A special thank you to our Great Topeka Bed Race Headboard Sponsor Capital City Bank and all of our other sponsors for their financial support. Also, thank you to 24 volunteers who made this year’s event a great success. Finally, thank you to the hundreds of people who turned out to participate, watch, and to have a great time.

HCCI Board Member Ron Harbaugh was there, snapping pictures. Follow this link to look at his photos of the fun at the Great Topeka Bed Race.

HCCI’s HOPE Program is made possible through funding from the United Way of Greater Topeka. Topeka area residents enrolled in the program work over time towards achieving financial security. This happens because, through the HOPE Program, enrollees benefit from HCCI’s one-on-one financial counseling services and work over a period of time with a mentor. HOPE Program mentors are community volunteers, who meet regularly with their HOPE Program enrollee to provide them support on their journey to achieve financial independence.

Since the program began nearly four years ago, Rebecca Atnip has been HCCI’s HOPE Program Director. In mid-March, Rebecca stepped down as the Director for HOPE. However, prior to leaving HCCI, she authored the article below about the HOPE Program under her leadership, and to introduce us to the new HOPE Program Director, HCCI Certified Financial Counselor Renee Earwood.

By Rebecca Atnip

The lives of over 180 families have been impacted by the HOPE Program since it began in 2012. As the HOPE Program Director, it has been a rewarding experience to see who the program has touched the lives of so many families in our community. It is even more amazing to watch how HOPE families go back into the community and, in turn, touch the lives of their friends and family with the information they have learned about managing personal finance.

The HOPE Program matches each participating family with a personal mentor who works with them to help them accomplish their goals. The goals of the program are to equip people with the tools and resources they need to get their finances in order, follow a budget, pay down debt and save for emergencies. Becoming financially stable is hard work, but families who are willing to work experience the benefits the rest of their lives.

The capacity for hope is the most significant fact of life. It provides human beings with a sense of destination and the energy to get started.—Norman Cousins

As I have reviewed some of the client stories, I saw a pattern emerge. Individuals start the program feeling beaten up by their finances and poor decisions. Many say they feel overwhelmed and can’t sleep with all the worry and stress in their lives. That is why the name of the program, “HOPE,” seems so fitting. The HOPE program gives people hope for their future— to get out of debt, save and achieve their dreams, such as owning a home, buying a good car or going to school. After 12 months in the program, we often see a transformation in the person who started the program. They feel empowered, in control of their finances, and confident they will achieve their dreams.

I have had many joys and challenges in guiding the HOPE program over the last 4 years. I am pleased to turn the HOPE Program over to Renee Earwood, who is assuming the position of HOPE Program Director. Interestingly, Renee started out with the program several years ago and was able to eventually move into the position at HCCI as a HUD-certified, financial counselor. Renee shares my passion for the HOPE Program, and I couldn’t think of a more fitting individual to take on this role.

The HOPE Program continues strong with a change in leadership. If you or anyone you know might benefit from working with a personal financial mentor, please contact Renee Earwood at Rearwood@hcci-ks.org.

For more information on the HOPE Program, follow this link.
For more information on volunteering as a HOPE Mentor, follow this link.

When it comes to money, there is certainly no shortage of ways to spend it. Between food, housing, utilities, retirement accounts, children, holidays and other miscellaneous spending, many people are living paycheck to paycheck. So what happens when car tags are due, or it’s back to school time for the kids?

Budgeting is essentially creating a plan to spend your money. Creating this spending plan gives you the freedom to determine whether you will have enough money to do everything that you need to do, or want to do.

A large step to creating a spending plan is understanding expenses. Budgeting is simply balancing your expenses with your income throughout an extended period of time, but there are three different kinds of expenses to factor in when creating a spending plan. Fixed expenses, variable expenses and non-monthly expenses are three categories that are important when you are learning to manage your money properly.

Fixed Expenses

Fixed expenses are expenses that do not change, such as rent, insurance, membership dues, loans, etc. You can allocate a certain amount of money to that cost each month or year. The amounts may vary slightly, such as utility payments, but for the most part you know they are due on a regular basis. Fixed expenses are great for creating a spending plan because you know how much they cost and can plan for them and how they will affect your budget.

Variable Expenses

Variable expenses are those that the amount spent is within your control. The product may be something that is necessary for survival, such as groceries. While you know that you will need to purchase groceries on a regular basis, the amount you spend will rarely be the same. 

When creating a spending plan it is important to look at variable expenses, as this is where most people overspend without realizing it. Look back on three to six months’ worth of spending in order to get an estimate on what you are spending. This will give you a far more accurate idea of what you are paying regularly for variable expenses.

Non-Monthly Expenses

Non-monthly expenses, also called Periodic Expenses, are those costs that come up throughout the year, such as property taxes and insurance, car insurance, holidays, and vehicle maintenance. You need to budget for these items properly or else you will find yourself dipping into other money saved for your fixed and variable expenses when it comes time to pay.

An easy way to figure out how much you should save monthly for your non-monthly expense fund is to look at what items you pay annually and divide that cost by 12 months. You can find a Schedule of Non-Monthly Expenses form here.

If you find extra expenses in your budget and you are not sure what category they fall under, ask yourself these questions:

1. Does the amount paid change frequently, or not change at all? (Fixed)
2. Is this something I buy at the store? Can I decide how much I want to spend on it? (Variable)
3. Could I pay for this tomorrow if I had to? Should I be saving for this in advance? (Non-Monthly)

Megan Stanek
Executive Administrative Assistant
Housing and Credit Counseling, Inc.

Along with remembering the Fair Housing Act, April is also Money Smart Month in Kansas. A number of organizations, including HCCI, work together to promote and encourage financial awareness. Their year-long efforts culminate with a series of events and initiatives during the month of April.

The kickoff event was April 2^nd at the Topeka and Shawnee County Public Library. HCCI counselor/educators delivered about becoming financially prepared for homeownership, how to improve your credit and options for repaying student loans.

In the March edition of “Hot Topics,” we told you about a new program HCCI had developed with Kansas employers in mind. HCCI’s Employee Assistance Program opens our doors to your employees, to receive counseling services and education programs as a benefit of working for your company. In the first four months of our Program, nine businesses are now enrolled in our program. They are:

• In Topeka
  • Stormont Vail Healthcare
  • Francis Health Center Foundation
  • Topeka Housing Authority
  • Key Staffing
  • Network Technologies
  • United Way of Greater Topeka
• In Manhattan
  • City of Manhattan
• In Lawrence
  • Lawrence Landscape
• In Emporia
  • Emporia Chamber of Commerce

Employees of each of these businesses can receive counseling services on an array of housing and financial topics at no charge. In addition, HCCI will travel to each of these businesses to present educational training sessions on topics chosen by the business. This benefit obviously helps the employee by helping them identify and develop a plan to achieve their personal financial and housing goals. The business also benefits mightily from the program. Employees facing a financial or housing stress will not be effective workers. When employees turn to HCCI for help, we return to the workplace an employee better able to manage their financial and housing challenges.

The HCCI Employee Assistance is extremely affordable for large, and for small business. For instance, an employer of 10 can sign up all their employees to receive the program’s benefits for an entire year, for only $120. For that, all 10 employees can receive counseling services and HCCI will come to the business to provide an education program. You can learn more about the HCCI Employee Assistance Program by following this link, or send HCCI a message (tleatherman@hcci-ks.org) to enroll your business in the program today.

Written by HCCI Housing and Credit Counselor Supervisor, Chris Burk.

Ever wonder what happens behind the closed doors during a credit counseling session?  Do you have images of shady character wearing a visor and the sound of a 10-key clicking away showing you big “red” numbers?  Well fear not, that is not how it is.  Here at Housing & Credit Counseling Inc. we have certified credit and housing counselors willing to help you go through your financial quagmire.

During a counseling session we will go over your income and expenses to help get a budget set. The goal is having money left over to take care of those unsecured bills, or better yet, money left over for savings.  Our highly trained counselors are not judgmental, all we are trying to do is see where the money goes and discuss options for trimming if it is necessary.  We will work out a plan of attack with you if you are dealing with credit cards and collections debt, to get all that paid off. 

Our counselors can also pull credit reports and help you understand the great mystery of your “Credit Score”.  What helps, what hurts, and what in the world does FICO stand for, our counselors have all those answers and more.  We can walk you through how to file a dispute if something is wrong on your credit report and also go over the consumer protection laws that protect you from those predatory creditors. 

So fear not, our counselors are not a scary bunch in dark sunglasses, we are here to help get you back on the financial glory road.  Call us today and see what we can do.  Operators are standing by.

HCCI Board of Director and Topeka Attorney, Kathleen Urbom, authored this article for the upcoming Realty Executives, Preferred Advisors, Inc. Spring 2016 publication. 

I focus on end of life planning in my law practice:  business succession planning, wills, trusts and probate.  “End of life” is just one of many time our lives change!  In the course of helping people check these important tasks off their “to do” list, I’ve heard a lot of questions and a lot of stories.

Nobody has more interest in how well your life works than you!  Do not be afraid to enlist the aid of professionals like accountants, financial planners, insurance agents, lawyers, realtors and bankers to get the information that allows you to make good decisions. These professionals are also an excellent resource for recognizing issues you may not even know are there and to make referrals to others to address specific issues you are facing.

I enjoy and like most lawyers!  Typically, lawyers are knowledgeable, competent, and genuinely interested in assuring their clients’ legal needs are met, at a price they can afford, or to provide general information at no charge.  Taking the time to find a lawyer you trust and paying the fees to be fully advised is often an excellent investment.  You do not have to be “big business” or “wealthy” to be well served by consulting a lawyer when it comes time to make decisions, address life’s issues, or set up the documents you need. 

In the legal world, there are “three big D’s” that can really change how your world works:  Divorce/Remarriage, Disability and Death. 

DIVORCE/REMARRIAGE: 

This is a time of great change and the changes all have legal impacts!  It is critical you have good information and advice before, during and after a divorce regarding property, beneficiary designations, your children and your long term retirement planning. 

Are you married or contemplating being married?  Have you been married before?  Do you have children (legitimate, adopted or “illegitimate”)?  Do you have children from a prior relationship or marriage? Are your children still minors or are they all grown and on their own? Do you have a child or grandchild with special needs for whom you wish to provide?  Do you want property and assets from a prior marriage to ultimately go to the children of that prior marriage?  Do you know marital rights are effective the minute you are married, and affect title to real property, claims on investments, and claims at death?

Each of these facts influence how you should hold title to property, whether you would be well served to have a trust, buy sell agreement or premarital agreement, and what happens to your property when you die.  All persons who are divorced or just married should make a new will.  In Kansas you cannot “disinherit” a spouse without their written consent.  You can “disinherit” children but only if you write a valid will!

If you are a parent of minor children, what happens to your minor children if something happens to you?  If you do not designate your preferences, a court must determine who would be best to care for your child or children if you are not there.  If you have not addressed this, you may have very thoughtful family members who are reluctant to come forward and appear pushy in claiming their own suitability to care for your children!

If you have a complicated family situation, it is even more critical to address this important issue to assure a competent and caring person or persons cares for your child in your absence.  Each natural or adoptive parent is considered the “natural” guardian of their children and you cannot direct a third party to be guardian so long as one of the natural or adoptive parents is alive.   These facts, plus lifestyle, relationships with extended family and other issues should be considered in your planning. 

DISABILITY: 

Do you have someone you trust and is competent (meaning they are knowledgeable and experienced) to handle your affairs if you are not able to make decisions for yourself?  If so, have you prepared a Power of Attorney that includes all the powers you want them to have which are authorized by the laws of Kansas?

When a person becomes disabled (temporarily or permanently), there are two areas the law focuses to address their needs:  issues relating to the person themselves (e.g., medical treatment, housing, providing for food, shelter, clothing and transportation, rehabilitation) and financial issues. 

Issues relating to the person are typically met by someone who can exercise the powers of a “guardian”.  There are some situations where the right document or documents (e.g., a durable power of attorney for health care decisions), may be sufficient to allow someone else to take on those decisions on your behalf.  In other situations, it may be required that a person be appointed by a court to be a legal guardian and to provide annual reports to the court, and to request authority from the court to make certain decisions.

A person who is authorized to manage your financial affairs, or, to “conserve” your assets for your benefit, is typically a “conservator”.  If you have a trust that holds your assets, and the trustee is authorized to have access to your bank accounts and all your financial assets, that trustee is able to serve as the effective “conservator”.  If you have a durable power of attorney, that agent holding that power is also typically able to do whatever you can do for yourself, with few limitations.  That fact is why we counsel the greatest caution in handing over a durable power of attorney!

If you have no one designated to handle your affairs, then it may be required that a person or company be appointed by a court to be a legal conservator and provide an annual accounting to the court and seek permission of the court to take certain actions. 

In all instances where court proceedings are required, there are attendant costs and attorney fees to be paid to accomplish the outcomes.  

DEATH: 

Death has been called the “great equalizer”, but that is only for the deceased!  No other event can have such “unequal” consequences to the survivors, depending on how property is titled, beneficiary designations, the existence of a trust and whether that trust is funded or unfunded, the by-laws or operating agreement for a going business concern, a buy sell agreement, being married or divorced at death, having children or grandchildren (minors or adults, natural or adopted), use of borrowed funds from a pension, insurance policy, or other asset during the lifetime of the decedent, debt and in whose name it is held, taxes and tax liens, and whether there is a will,

Real estate is one of the areas that requires great diligence to assure there is someone who acquires legal title in order to be able to deal with the real estate or a legal proceeding will be required.  Many married couples own real property in “joint title with right of survivorship”, which means title automatically passes to the survivor upon the death of the “first to die”. 

A single person, whether single by virtue of never having married, being divorced, or being widowed, does not have a similar device in effect at their death.  Sometimes a single person, especially when they have children, is tempted to put one or more children’s names on the title.  Since assets are subject to being attached by creditors or other third party claimants, whoever has their name on an asset opens that asset to potential claims from their own creditors. Further, if their children are married, the marital rights of their spouse also attach to the asset. 

Small businesses are another asset that needs careful planning.  Most businesses lose almost 80% of their value within the first year after the death of the founder or leader of that business if there is no plan to continue the ownership and management of that business.

Each of the areas impacted by a person’s death can be successfully addressed with timely planning!  The “Three Bid D’s” are worth double-checking!

Kathleen R. Urbom, J.D.

Imagine that you hail a taxi for a ride across town, but when you realize the cost of the fare, fees, and interest you are trapped in a car for a sad and costly cross country journey. According to the Director of the Consumer Financial Protection Bureau, Richard Cordray, that is what it is like when you take out a loan from a payday loan, title loan or payday installment loan business.

Cordray was in Kansas City last Thursday, the day the CFPB announced long-awaited proposed rules for the payday loan industry. He also led a Public Hearing in Kansas City on the industry and need for increased scrutiny and regulation, which drew hundreds of passionate advocates for consumers and a delegation of equally passionate industry representatives. In brief, the proposed CFPB rules would:

1. require payday lenders to apply a full payment test for each loan client to determine their ability to repay a payday loan, prior to lending the money.
2. make it more difficult for lenders to re-issue or refinance loans, which today produces a “debt trap” of spiraling interest and fees.
3. place restrictions on the lenders access to the borrower’s bank account. A common complaint is a payday lender will keep seeking attempting account withdrawals from empty accounts, prompting bank overdraft penalties and fees for the borrower.

(follow this link for more information on the CFPB proposed rules: http://www.usatoday.com/story/money/2016/06/02/new-cfpb-proposal-aims-payday-debt-traps/85250712/) 

Prior to Cordray’s comments, Kansas City Mayor Sly James described the payday loan industry as “obscene, immoral and should be illegal.” James also made clear how pervasive the industry is in Kansas City when he said there are more payday loan businesses in Kansas City than there are of Walmarts, Starbucks and McDonalds combined.

Tales of payday loan horrors are also pervasive in HCCI counseling sessions. In fact, when Topeka’s KSNT-TV reported on the proposed CFPB rules, they turned to HCCI’s financial counselor Renee Earwood to provide insight on how payday loans can impact families and individuals (http://ksnt.com/2016/06/02/is-there-a-new-alternative-for-payday-lenders/).

Details will differ, but a common thread emerges. A person is living paycheck to paycheck, with no savings in the bank and no access to conventional loans, and then something expensive happens. It might be a medical emergency, a needed car repair, or money to pay the rent. Desperate for cash, the person takes a payday loan they will not be able to repay, when due. That begins the cycle where fees and interest paid will be far greater than the loan they owe.

To borrow from an old phrase, “friends don’t let friends take out a payday loan.” They also should help them prior to a life event makes them financially desperate, by directing them to an organization like HCCI, where they can learn about budgeting and saving for emergencies.

The scenario: You feel like the captain of a sinking ship for longer than you care to recall.  Month after month, year after year, you have been faithfully making your student loans payments.  Of course, the storms of life have caught you off guard a time or two (or three) and you have utilized the deferment and/or forbearance benefit to keep your loans in good standing during the periods of rough financial waters but overall you know you have been paying on your loan(s) for way too long not to see any significant reduction in the balance.  The frustration of not making much headway is weighing heavily on your mind when the answer suddenly seems to appear – refinance the student loan at a lower interest rate.

I mean, after all, isn’t that what you do when you want to save money on a car or mortgage payment?  It may seem like the practical solution and with marketing-savvy private student loan lenders touting ‘Reduce your rate, lower your payments, repay faster. Our members save an average of $18,936 why would you not consider it as a viable course heading to finally paying off the student loan debt you have been drowning in for so long.  It is what the private lenders are not telling you that is our URGENT GALE WARNING message of the day.

As a consumer credit counselor specializing in student loan debt repayment, I have seen this scenario play out many times in my conversations and counseling sessions with clients.  Unfortunately for some, they have already capsized and taken the plunge into the murky waters of private loan refinancing and have lost all their life-saving flotation devices.  At the end of the day, my job is not to tell a client what they should do per se, but to educate them to ensure understanding of all their options including the pros and cons of each choice so they may make the best decision based on their personal goals and unique financial situation. 

What the lenders fail to tell you (except for in the fine print):

Federal student loan benefits do not transfer to private lenders when you refinance.  Losing the option to utilize a federal student loan benefit such as income driven repayment plans, potential loan forgiveness, deferment and forbearance may not make the cost savings worth it in the end.  

A recent client of mine came in looking for advice after being contacted by a private student loan company and wanted to know if it was a good idea.  We evaluated her situation and discovered that she was eligible for the Public Service Loan Forgiveness program due to her type of employment but the type of loans she had (old Family Federal Education Loans – FFEL for short) would need to be converted into a Direct Consolidation loan through the US Department of Education.  Once we completed the 20 minute online application in my office, she was able to consolidate her (6) FFEL loans into one federal consolidation loan for $43,265 and ended up with a monthly payment of $238 that would be eligible for forgiveness after 120 qualifying payments (that’s 10 years folks).  Calculating the amount of money she would repay on this plan came to a grand total of $28,560. That’s a SAVINGS of $14,705 off the original principal balance!

If she would have dived headfirst into the private student loan refinancing company’s plan that had contacted her, her monthly payments would have been in the range of around $450 – $500 depending on her final interest rate approval and total repayment after 10 years would have been $54,120 – $60,000.  Cost to the client if she had not reached out to find qualified student loan counseling advice could have potentially been as high as $31,440!

Are refinancing federal student loans into private student loans always a bad idea?

While it may seem as though I would advise steering clear of private student loans in all circumstances that is not the case.  Refinancing is just one of many options that may be considered when evaluating a client’s student loan debt repayment strategy and it could be the right option for a client in some cases.  While each client experience is complex and unique, some situations when a private student loan should be considered would be:

• Refinancing private loans you already have if you can find a lower interest rate.
• If cost savings is your only priority and you do not plan on utilizing any of the federal student loan benefits, including forgiveness.
• If you have Parent PLUS loans that the child wants to assume, a private loan refinance may be the only option.

If you are still feeling unsure of which direction your student loan debt ship should be sailing, my advice is to seek the guidance of a Certified Student Loan Counselor through a non-profit consumer credit counseling agency.  Each counselor is trained in the options available and can help you navigate your student loan debt repayment options into the flowing current of your big financial plan.  And remember when the client felt she was not making any headway on her federal student loan debt in the opening scenario?  That was due to the capitalization of interest accrued during her periods of forbearance and deferment and guess what? That is something a certified student loan counselor can help you with too!

     Written by HCCI Certified Financial Counselor, Renee Earwood.

The Millennial generation has been widely criticized as entitled, selfish, and noncommittal. While these accusations are neither fair nor accurate, they do illustrate a generational disconnect. Young adults, and women in particular, are entering the workforce more confident than their predecessors. This confidence is not entitlement incarnate, rather it is a communal revaluation of fair pay, balanced family life, and ample benefits.

At the other end of the office, a large portion of our nation’s best employees are struggling to break into positions they rightfully deserve. Middle-aged women are increasingly being encouraged to break the molds and demand what’s owed them from their employers. Surveys indicate that women negotiate less for raises, apply in fewer numbers to executive positions, and drop out of the workforce at the highest rate. These problems are all tied to the self confidence gender gap.

The self confidence gender gap explains the phenomenon of women waiting to be 120% qualified, while men jump once they reach 70%. It encompasses the “impostor syndrome” where women anxiously anticipate the day they will be found out as frauds due to inexperience. The gap illustrates why women explain away their accomplishments saying, “There were only 5 applicants” or, “It really didn’t take me that long”.

So how can we smooth the gap? As a member of the Millennial generation, I’ve been conditioned to avoid much of the gendered confidence gap plaguing older women. Here are a few principles I keep at my desk.   

Compare Yourself to the Applicants, Not the Executive.

Great companies want originals, not copies. Women have a tendency to compare themselves to the most qualified person in the conference room. By ignoring the competition to replicate the original, women lose sight of their unique skillsets and fail to market themselves effectively. The right reason to want a job is to fix problems, start new initiatives, and improve profitability. These goals require an original.

Don’t Know? Just Ask.

Studies find women are more likely to ask questions in the workplace than men. This means if we don’t know, we will find out. It’s not a weakness to ask how something has been done by others. It saves resources, allows for careful reevaluation, and could expose functional problems. The propensity for questioning builds consensus and should be viewed as a strength. Not knowing isn’t a weakness unless you have no desire to learn.

If You Don’t Deserve It, Who Does?

Due to our obsession with being the most qualified, women may lose sight of who the actual competition is. How many people do you know that meet the ideal candidate description? Chances are, not many. Finding a job isn’t all about qualifications, it’s also about having the drive and willpower to complete the tasks at hand. If you want it, and are committed to bettering yourself to live up to the position, you are just as worthy as anyone else.  

When in Doubt, Get Creative.

Diversity within the workplace breeds innovation and women bring a valuable perspective. When a dead end is reached, or every idea has been tried, that’s when the rubber meets the road. How much can you do with little? As women, our historical legacy is one of making do, while leading others to think it’s plenty. We bring that maternal heritage into the workplace. Take a few moments to brainstorm possibilities to simplify current procedure, expand the company, or handle a crisis. Simple notes and preparation set you apart.

Your Family brings Perspective, not Baggage.

Millennials are increasingly demanding accommodations for a healthy work-life balance from employers. We know that a happy family and social life will help us excel in the workplace by reducing stress and creating productive outlets. It is not shameful to have a child, a husband, or an ailing mother-in-law. These parts of our lives allow us to relate to a broader market and empathize effectively with our clients. A family increases your ability to prioritize, one of the most desirable traits for employees. The main thing is to keep the main thing, the main thing. Companies juggle a number of functions and commitments and so do you.

In 2012, 70% of high school valedictorians were female, a trend we see continuing into universities and colleges. As a millennial, I’ve grown up watching women succeed. Every boss I have ever had has been a woman. My teachers and mentors have been majority female. The idea that a woman is inherently less qualified, less intelligent, or less capable doesn’t even begin to reflect the world I know.

You owe it to yourselves, your daughters, and your sons to be the best you can. That includes running for political office. It includes applying for executive positions, and it includes asking for that well deserved raise. There is no factual evidence to say that you are an impostor. If anything, that man in the corner office may be a poor substitute for you.

I’ve been told I’m capable, and I know it to be true. You can too.

Anna Zimmerman authored this article. Anna Zimmerman is a recent college graduate of Emporia State University and a local Topeka resident. She is a long time supporter of HCCI and the Women & Money Series, which she attended in high school and presented at in college. Anna enjoys working to expand financial literacy to women and young adults through writing and teaching. 

It has become the largest single day each year for HCCI to receive charitable donations. Topeka Gives was a rousing success again this year, with more than 30 people supporting HCCI with more than $3,000.

The Topeka Community Foundation organizes Topeka Gives, an annual event to celebrate charitable giving. 157 community organizations, including HCCI, participated in Topeka Gives on June 7, at the Fairlawn Plaza Mall. Along with hosting, the Topeka Community Foundation also provided $68,000 in matching funds, meaning the donations from individuals grew larger because of the Foundation’s matching funds. Overall, there was $496,288.92 in charitable giving for all organizations at this year’s Topeka Gives.

HCCI received 32 donations at Topeka Gives 2016, a 10% increase over last year. 13 of the donors were current members of the HCCI Board of Directors and nine were HCCI staff members. HCCI netted $3,306 in total donations, including $511 in Topeka Community Foundation matching funds. That was around $150 less than the HCCI donation total at Topeka Gives in 2015. Along with donations, the HCCI booth was constantly visited during the day, giving HCCI a chance to spread the word about the important counseling and education services we have to offer.

Topeka Gives might be the biggest day each year for individual donations, but HCCI seeks charitable funds each and every day. If you missed Topeka Gives, you are still encouraged to generously support HCCI. You can do so at the HCCI website (http://hcci-ks.org/donate) or by sending a check to HCCI, 1195 Buchanan, Topeka, 66604.

Something monumental will happen in the American workplace any day now, and no one will notice when it happens. During 2016, the Millennial Generation will become the largest segment of the labor force. Millennials now range in age from 18 to 35 years old, are characterized as highly educated, tech savvy, and team players. Another important millennial characteristic is they owe a majority of America’s exploding student loan debt.

Smart employers realize the key to the success of their business will be attracting and retaining talented millennials to be their employees, which is why student loan repayment is becoming an employee benefit issue. Here are a few key facts:

• Student loan debt in America is exploding. It now is hovering around $1.3 trillion, three times what it was in the early 90’s, and the average debt is approaching $35,000.
• Millennials owe more than half of America’s student loan debt. 42% of all millennials owe on student loans.
• According to a study by EdAssist, millennials value an employer who will help them with existing student loans and will financially support them seek further education.

That is why a new employee benefit trend is for employers to help employees with their student loan debt. According to the Society for Human Resources Management, 3% of companies now offer this employment perk. An example would be Fidelity, which is offering non-management full time employees $2,000 a year that is paid to reduce the principal on student loans, up to a total of $10,000. Employees are required to make their payments, then Fidelity’s benefit reduces the overall size of the loan.

So, consider for a moment the place where you work. Take a look at the employees who are in their 20’s and 30’s whom you work with and consider how important it is to your business to keep them as employees. Now consider that many of those employees have student loan debt, and have likely been on their own maneuvering the murky waters of student loan repayment. Finally, consider what a benefit you would provide them if you connected them with Housing and Credit Counseling, Inc.

At HCCI, we could provide education programs to your employees on student loans and repayment, so they receive clear and easy-to-understand information about the student loan repayment process. Also at HCCI, we meet one-on-one with people with student loan debt, to help them explore all their student loan repayment options, which could include interest rate reductions or loan forgiveness.

The student loan plight, especially for millennials, is real. Because of the weight of student loans, employees say it impacts their life every day, delays their purchase of homes or cars, and negatively alters their career direction. HCCI would welcome partnering with Kansas employers to explore how we might provide an employment benefit your employees saddled with student loan debt would greatly appreciate.

If you have a comment or question, we would love to hear from you. 785-234-0217 or hcci@hcci-ks.org. 

After five years as a member of the HCCI Board of Directors and at the halfway point in his one-year term as HCCI Chair of the Board, Bob Washatka has announced his resignation. After many decades in Topeka, Bob and his wife Maureen are relocating to Rockford, Illinois to be closer to several members of their family.

“It has been my great pleasure to work closely with Bob the last few years, as a member of the HCCI Executive Committee and its Chair,” said HCCI President & CEO Terry Leatherman. “Bob is a longtime business executive and is so well known and respected in Topeka.  We have benefitted greatly from his knowledge and experience, as well as his desire to help people and advance the mission of HCCI.”

When he announced his resignation decision to the HCCI Executive Committee in mid-June, Bob was presented with a plaque to celebrate his service as Chairman. Vice Chair of Programs and Services Robb Cummings also presented Bob with half of a certificate for being HCCI’s Chair, kidding Bob for stepping down at mid-term.

Below is Bob’s email to Terry Leatherman announcing his resignation. Everyone at HCCI thanks Bob for being such an involved volunteer and supporter of HCCI over the years, and wish him all the best with his new adventures in Rockford, Illinois.

Terry,

I regret to inform you that I will need to step down as Board Chair effective June 30th. Maureen and I will be relocating to the Rockford, IL area where we will be closer to part of our family who have a need for us to be in their lives more. We are blessed that our lives allow us to consider this at this time. We have been extremely fortunate to have our house sell in only 8 days so we will be moving by July 23^rd.

I want to express my thanks to you, the Board, and staff for allowing me to serve HCCI for 5 years and though I am leaving my Chairman term early the organization is on solid footing. Under the guidance of you, Marilyn, Chris, Teresa, Lynne and the whole team there exists only opportunity for growth to serve more people.

Please share this with the whole board at your convenience.

My best wishes for the continued success of HCCI.

Bob

Robert J Washatka

‘You may think more money is the key to living the life of your dreams, but in reality, most people are unable to live the lives they want  because they lack a clear vision for their life and are setting financial goals that do not align with what they truly value.’

This was the message Jason Vitug and the Phroogal.com’s Road Trip to Financial Wellness team presented when they stopped to stretch their legs at Housing & Credit Counseling, Inc. for a Lunch & Learn on Tuesday July 26^th. The 15,000 mile tour will stop in 30 major cities over the summer to break taboos about money and empower communities.

In conjunction with HCCI’s HOPE Program Financial Literacy component, attendees gained a better understanding of their money mindset and learned about the resources and tools available to them to help make better financial decisions.

The HOPE Program, funded in partnership with the United Way of Greater Topeka, is an extension of the great work HCCI’s credit counselors do every day to assist clients in financial distress come up with a plan of action.  After an action plan has been created in the office during a comprehensive one-on-one counseling session, the HOPE Program Director matches the client with a volunteer financial mentor to coach the client for six to twelve months, turning that action plan into reality based on the client’s personalized set of circumstances. 

In addition to the one-on-one personal mentoring a client receives, financial literacy educational opportunities, such as the Phroogal.com visit, is incorporated as an important factor to success in the HOPE Program.  While HCCI is well-known for their wide variety of classes offered on budgeting, credit, debt repayment, student loans and first-time homebuyer, the HOPE Program seeks to add variety in the personal finance topics offered through monthly Money Club meetings, including exploring how our money beliefs affect our money choices and motivational strategies for achieving long-term goal wins for HOPE participants.

Jason’s inspiring message challenging the audience to re-think their money mindsets based on their personal values and life goals, will align well for opening discussion to the next Money Club meeting being held on Monday August 1^st, where the topic will be How to Train Your Elephant: Understanding the power of emotions when making financial decisions presented by HOPE Mentor volunteer, Cherie Stueve, MBA CPA (inactive) AFC (R) and current PhD Certified Financial Planning candidate at K-State.

After reading Jason’s bestselling book given out to those in attendance: You Only Live Once: the Roadmap to Financial Wellness and a Purposeful Life, he hopes “Someone might be talking about their new car or new clothes or an amazing vacation and you’re going to say great for them, but this is what I want, this is the life I want to live and I’m going to make decisions based on that.”

To learn more about the HOPE Program and upcoming Money Club events, please contact Renee Earwood by phone (785) 234-0217 ext. 306 or email: rearwood@hcci-ks.org.  To learn more about Jason Vitug and his Road to Financial Wellness tour, visit his website at www.phroogal.com or watch the WIBW video: https://www.facebook.com/WIBWEric/videos/1035040076565512/ 

People who know about HCCI, its vital mission, and how people benefit from the services we provide, are willing to support the important work of HCCI. The challenge is to introduce more and more people to Housing and Credit Counseling, Inc. In order to do exactly that, HCCI will begin a new program in September, called “Inside HCCI.”

“Inside HCCI” will feature an hour-long program and agency tour, where attendees will learn about the need in our community for housing and financial counseling and education, the unique services HCCI provides, and how they can help. The programs will start at 7:30 am, so the program can conclude in time for attendees to start their work days. Members of the HCCI Board of Directors will be very involved in “Inside HCCI” by inviting attendees and being involved in the program.

It is hoped “Inside HCCI” will introduce business executives, community leaders, government officials, social service agency directors, and volunteers to HCCI and involve them in our work. If you know of someone who might benefit from attending “Inside HCCI,” please send their name and contact information to hcci@hcciks.org.

Women & Money sounds like a fun shopping spree but… the phrase really fits better with that old saying, “Life happens when you are planning something else.”  HCCI created Women & Money financial classes because we know women especially understand how  unexpected life “events” such as marriage or “flying solo,” children, divorce, death of a partner, unemployment, remarriage and other “life happenings” calls for strength, a sense of humor, and most of all, the need to manage money wisely.  The Wiser Woman Institute (www.wiserwoman.org) reports that in 70% of US households, women are managing most of the family’s finances and they may also be part of the sandwich generation, helping to manage finances for adult children and for aging parents.

HCCI’s Women & Money classes will once again be offered in collaboration with the Topeka & Shawnee County Public Library and the Johnson County-Overland Park Library September through November 2016.  Class topics for the evening classes include budgeting for the basics and for “life changes,” credit and borrowing for big ticket items, investing and why Social Security is not enough, and life planning (wills and durable powers of attorney for health and financial decisions).  Women & Money classes are sponsored by a grant from the Kansas Securities Commissioner and by local sponsors.  All classes are free but enrollment is required to receive a bound handbook, other learning supplies, snacks and door prizes for everyone attending.  Space is limited to 70 at each location:  Overland Park and Topeka.  Enroll at www.hcci-ks.org or call 785-234-0217. 

At the July 26 meeting of the HCCI Board of Directors, Robb Cummings was chosen to lead the HCCI Board for the remainder of 2016. HCCI’s 2016 Board Chair, Bob Washatka resigned the post when he and his family moved from Kansas in June. Robb is the Director of Business Development for Sallie Mae. He joined the HCCI Board in 2013 and has been a part of the HCCI Executive Committee for the past three years. Below is a letter Robb authored to introduce himself to HCCI friends and supporters.

I joined the HCCI Board of Directors three years ago.  I had heard of HCCI prior to then but I’d never had any first-hand experience with the organization.  I was asked to provide a private student loan overview for the HCCI staff in 2013.  Soon after that meeting, John Olsen (former HCCI Board Chair) asked if I would consider joining the Board. 

I’ve spent my entire adult career in the financial services industry, first working at Bank IV (now Bank of America) for seven years as a teller, consumer loan officer, and manager of student lending.  I then moved over to USA Group, a guarantor of federal student loans.  Sallie Mae acquired USA Group in 2000 and this month marks my 16-year anniversary with the nation’s largest saving, planning, and paying for college company.  In my current position of Director of Business Development, I work with college and university financial aid offices in Kansas, Oklahoma, Nebraska, and South Dakota.

I welcome the opportunity to serve as your Board of Directors Chair.  HCCI provides crucial services to consumers in Northeast Kansas and beyond.  As is the case for many nonprofit organizations, funding is always a top-of-mind concern.  I’m excited for the implementation of our refreshed HCCI Introduction Events.  These sessions will showcase our quality programs and services with the intended result of raising donations and awareness in the community.

I’m also excited to watch the implementation of the Kansas Satellite Community Service Plan, a plan to introduce HCCI programs and services to other communities in Kansas.  Taking advantage of technology to provide remote counseling sessions allows HCCI to maintain a presence in communities where we do not have brick and mortar locations.  Securing strong local individuals to serve as volunteers on HCCI Action Workgroups will be a priority as we move forward with this initiative.

As Chair, I look forward to working closely with the members of the HCCI Board of Directors.  We have a great deal of experience and talent on this Board.  I look forward to continuing to work with this talented Board through 2016 and 2017.  Finally, I welcome the input from all who have ideas that will advance the mission of HCCI.

The Consumer Financial Protection Bureau (CFPB) reported in January that 1 in 5 people in the US will be contacted by medical debt collectors this year and they will collect $21 billion in total from consumers with medical debt.  Dealing with debt can be an emotional roller coaster for people who are already suffering with health issues or unexpected emergencies. Because so many clients are struggling to pay medical bills regardless of health insurance coverage, HCCI’s HOPE Program is offering a free panel discussion with local experts to discuss repayment options available on Tuesday, September 6^th at 6pm at the Topeka Shawnee County Public Library’s Marvin Auditorium.

The majority of medical debt gets turned over to collection agencies because people are unaware of the multiple payment options available to them.  Cindy Stortz, Financial Counseling Supervisor for Stormont Vail RMC, stated that “while the variety of payment options are printed on the back of the bills they send out, many patients may overlook the information.” HCCI counselors find that a common reaction is to ignore the debt when a consumer feels they do not have enough money in their budget to pay the bill, which only ends up making the problem worse.  Attendees of the panel discussion will learn more about the various payment options available including charitable assistance, low interest bank loans, financial counseling and debt management programs.

Todd Butler, a Topeka attorney and Treasurer of HCCI’s Board of Directors, will discuss collection procedures and explain how a patient’s credit is impacted, the increased cost of collection, and the possibility of wage or bank garnishment when medical bills go into a court-ordered judgment. Creditors and collectors understand the fear involved when consumers are faced with large unexpected bills and want to emphasize they are able to assist patients to find reasonable solutions knowing the longer a consumer waits to deal with the debt, the more difficult and costly the issue becomes.

Resource tables will be setup for participants to visit with local experts regarding KanCare, Health Access, Alliance for a Healthy Kansas, YWCA Center for Safety and Empowerment and the new GraceMed Community Clinics in Topeka.  A Q&A session will also allow those in attendance to ask questions of the panel experts.

Housing and Credit Counseling routinely counsels people regarding credit card debt, student loan debt and mortgage foreclosure, but counselors say that it is a challenge to help people understand their medical bills and navigate the complicated billing system that involves insurance companies, patient co-payments, and other third party payments.  Counseling fees are waived for qualifying households and no one is ever turned away because of inability to pay for HCCI’s counseling services.

HCCI’s HOPE Program (Helping Ourselves Prosper Economically) is sponsored by the United Way of Greater Topeka and provides financial counseling by certified HCCI counselors and coaching by trained volunteers to individuals and families coping with debt.  The average HOPE family is working full-time, has children, and is able to balance their budget, reduce debt and begin to save within 12 months of entering the HOPE Program.  HOPE Program services are free to Shawnee County residents.  To learn more about the HOPE Program or future Money Club events, contact Renee Earwood at (785) 234-0217 ext. 306.

Housing & Credit Counseling, Inc. Offers Free Homebuyer Workshop on September 24th

A free workshop for first time homebuyers is scheduled for Saturday, September 24^th from 9:00 a.m. to 1:00 p.m. at HCCI.  Interest rates are still low for a 30 year mortgage and it is a great time to buy.  The goal of the class is to help the first time homebuyer learn all aspects of the buying process.  We want our future homeowners to make good choices, and find a place that they can truly afford.  We will go over budgeting, credit reports, and what to look for in shopping for that dream home.  We discuss working with a real estate agent, and go over what they can and can’t do.  Insuring the new home is a big item to talk about as well.  We will break down the difference between actual cash value compared to replacement cost, and discuss flood insurance as well.  We also go over what to expect at the bank during the application process and what all to bring for that first meeting with the bank.  Finally we talk about the closing process and make sure everybody does the proper wrist exercises to be able to sigh their full legal name 100 times.

One of the many advantages of taking this class is that we talk about affordability.  We stress the monthly budget quite a bit here at HCCI, and we want the future homeowner to realize the total cost in owning a home, and can the cover all that expense.  Property taxes, insurance, and even mortgage insurance is covered so the future homeowner knows the entire amount.    Maintenance is the last subject we talk about. The new homeowner now is responsible for up-keep and repairs on the house. They can no longer call the landlord to fix broken items, it is now on their own shoulders to pay for it.

Our local banks tell us that people who have attended our homebuyer classes are less likely to have a problem in the future with not making their house payment.  Our attendees know what it is going to cost, and the plan ahead for future repairs in the home.