Tenfold Classes Promote Financial Literacy

When Todd Capitao, director of financial empowerment at Tenfold, got married, he and his wife realized they were not quite in control of their spending. "I went to the dollar store and got a ledger and started tracking expenses," said Capitao, who has since graduated to a computer spreadsheet for this purpose.

In his role overseeing financial literacy classes for Tenfold's Ann B. Barshinger Financial Empowerment Center, Capitao knows he has to practice what he preaches. Using a variety of apps combined with opportunity shopping and his spreadsheet, Capitao is on top of his family budget and happy to teach others how they can achieve that goal. "We have standard workshops," said Capitao, who noted that before the advent of COVID-19 restrictions, classes were held in person. Now the classes are held virtually on Tuesdays at 6 p.m. and Thursdays at 10 a.m. "We do budget, credit, savings, lending, and banking," said Capitao. "Those are the five cores, and they are very basic." Capitao tells those considering taking classes that he recommends taking the budgeting class first. "That's key," he said. "You can't properly save unless you are budgeting."

In addition, each quarter that classes are held, a few electives are included. "It could be how to be more Earth conscious or how to buy a car or fraud," Capitao said. "Those are things we try to review outside the standard ones."

Capitao explained that classes are taught with regard to student understanding. "The terms are defined," he said, noting that students receive a book and that they may ask questions during classes verbally or via chat. He noted that classes are content driven and that those who are self-motivated can do well in them.

According to Capitao, the best action to take following the classes is to sit down with a financial counselor either in person, virtually, or by telephone. "If we have 20 people in a virtual class, we cannot do 20 individual budgets," he explained. "We will give (students) the tools and ideas and skills, but if (a student) has trouble or concerns doing a budget or handling credit, (they should) see us in person or virtually or by phone."

Before COVID-19, Tenfold personnel had dreamed of holding classes online, but now they would be happy to hold in-person classes again, and they welcome inquiries from organizations such as churches, ministries, businesses, and other that would like to host in-person classes.

Pointing out the benefits of working with a counselor, Capitao noted that many people receive an extra paycheck twice a year that they do not always consider. "The counselors here have been able to assist people out of (the start of going into debt) because of that extra paycheck that isn't on their radar," he said.

In the past, organizations, such as The Factory Ministries in Paradise, have offered rewards in the form of Factory Bucks to be used at The Factory Market, to participant who enroll in a class that effects their sustainability.

Readers who are interested in taking Tenfold financial literacy classes may register by visiting http://www.wearetenfold.org and clicking on "events/classes." Individuals who have questions may call 717-397-5182.