Kennebunk Savings U Lessons

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Adult Education

Kennebunk Savings U offers a variety of timely and relevant financial lessons for adults from the ABAEF's Personal Finance Basics and Get Smart About Credit programs. Information is designed to give adults the knowledge needed to make smart financial decisions. Education options include safety and security of money, loans and credit, managing debt, budgeting and identity theft.

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ABAEF's Personal Finance Basics:

  • Savings 45 min.

    Saving is the best way to get the things you want and achieve security and peace of mind. If you establish and follow a savings plan, you will have money available for emergencies or for special purposes.

    Objectives Participants will be able to:

    • Set long-term and short-term goals
    • Identify ways to save
    • Understand key terms related to savings accounts
    • Understand features of general types of savings accounts
    • Understand the basics of common

  • Checking 60 min.

    For those people who have regular sources of income, a checking account is a useful tool and allows you to pay for groceries or car repair with a check or debit card, instead of carrying cash or using a credit card.

    Objectives Participants will be able to:

    • Explain the benefits of a checking account
    • Write a check
    • Use a check register
    • Fill out a deposit slip
    • Read a bank statement
    • Balance a checkbook

  • Budgeting 40 min.

    Budgeting is the key to managing your personal finances well. Knowing how much you have to spend and where you spend is critical to your financial growth and success.

    Objectives Participants will be able to:

    • Create a budget
    • Calculate their monthly net income
    • Revise a budget

  • Credit 60 min.

    Credit is not a right; it is a privilege that comes with responsibility. Credit is a useful tool that can help you manage your personal finances.

    Objectives Participants will be able to:

    • Understand the 4 Cs of credit
    • Understand consumer protections put in place by the 2009 CARD Act
    • Identify various forms of secured and unsecured credit
    • Understand the importance of establishing good credit
    • Identify warning signs of poor debt management
    • Understand identity theft and prevention

  • Mortgages 60 min.

    Buying a home can be one of the best investments you will make in your lifetime. It is also one of the largest financial transactions you will ever make. Buying a home requires a great deal of planning and saving.

    Objectives Participants will be able to:

    • Know the difference between various types of mortgages
    • Determine their borrowing power
    • Understand the loan qualification process

ABAEF's Get Smart About Credit:

  • Credit: what is it and are you worthy? 60 min.

    This lesson introduces the concept of credit and the different types of credit available. The lesson also introduces the term "creditworthy" and explains how a student can determine creditworthiness using case study examples.

    Objectives Participant will be able to:

    • Explain the concept of credit
    • Differentiate between unsecured and secured loans and alternate forms of credit
    • Name the 4 Cs of credit and understand how to become creditworthy

  • Comparing cards 60 min.

    Students learn about the difference between credit and debit cards. They will use a worksheet to compare the various features of several credit cards and a debit card in order to select the best credit or debit card for the people described in each of six situations.

    Objectives Participant will be able to:

    • Describe the differences between credit and debit cards
    • Analyze the various choices to determine the best one in each case study

  • The Cost of Credit 60 min.

    Students are presented with five case studies in which two loans are compared. Using the information in the situation, students calculate the cost of credit and determine which of the two loans is less costly.

    Objectives Participants will be able to:

    • Comprehend the differences between loan types
    • Understand credit terms, such as interest rate, finance charge, annual percentage rate, etc.
    • Weigh options of two loans to determine the most cost-effective choice.

  • The Credit Report: Your Financial Resume 60 min.

    This lesion provides students with direction for reading, requesting and reviewing a credit report. To help with reading a credit report, students are directed to find the various categories on a sample credit report and to discuss the meaning of the contents.

    Objectives Participants will be able to:

    • Read and understand a credit report and the importance of this document.
    • Request their credit report annually.
    • Spot any discrepancies in their credit report and know how to dispute them.

  • Budgeting 60 min.

    Budgeting and saving can prevent credit problems. Students complete a budgeting worksheet to give them an idea of how much it can cost to support a desired lifestyle. The lesson concludes with discussions on saving and responsible use of credit for long-term goals.

    Objectives Participants will be able to:

    • Understand the link between budgeting and the responsible use of credit.
    • Determine whether they can afford to live as they would like.
    • Prioritize goals and determine the correct use of credit for both short and long term goals.

  • Protecting Yourself from Identity Theft 60 min.

    Students learn about identity theft and how to protect their personal and financial information. They also learn the steps to take if they believe they are victims of identity theft.

    Objectives Participants will be able to:

    • Define several types of identity theft.
    • Understand why it is important to safeguard their personal and financial information.
    • Take necessary steps to protect their personal and financial information.

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