Financial stress is the most common and persistent form of stress Americans face, impacting our physical and mental health, the health of our communities, and our satisfaction in our work. Early childhood educators—long under-valued and under-compensated for the critical work they do—know this stress all too well.
Understandably, financial stress is also a key driver of staff turnover. In addition to the financial cost, turnover has significant and lasting negative consequences for the quality of children’s achievements. This course is for Head Start programs that are serious about the financial health and wellbeing of their staff. While we keep working towards systemic change to compensate early educators fairly, there are tools your staff can use to alleviate financial stress today.
Financial Wellness Essentials supports your entire program with one year of effective financial care. Learners will be introduced to the principles of Money + Life Balance, build their own cash flow plan using a hands-on, evidence-based technique called Visual Financial Planning, receive one year of access to The Beans financial care app, and have access to monthly office hours with trained financial professionals.
This course consists of one self-paced learning module that lays the groundwork to break free from financial stress and one live workshop where your staff will create their own visual financial plan. All participants will be mailed a personalized kit with materials necessary for the workshop.
Start Date: Self-paced work can begin immediately. Live instruction sessions will be scheduled 30 days or more from the date of registration.
Course Level: Beginner
Target Audience: Instruction and Effective Practice, Leadership and Management, Program Operations, Support Services
Completion Timeline/Duration: One month to complete self-paced coursework; one 90-minute workshop: one full year of support including monthly office hours via Zoom and live chat via text.
Head Start Alignment: This course supports programs in meeting Head Start Program Performance Standard 1302.93 Staff health and wellness in which “a program must make mental health and wellness information available to staff regarding health issues that may affect their job performance, and must provide regularly scheduled opportunities to learn about mental health, wellness, and health education.”
The Beans introduced these concepts during their Build Your Visual Financial Plan session at NHSA's 2021 Parent and Family Engagement Conference. Attendees said:
- "Wow, what a great session. Eye-opening activities I will now use in my life for a better financial future!"
- "I'm a very hands-on, visual learner, and that's exactly what this session was all about. It taught me financial planning in a way that made sense to me!"
- "The visual representation of my finances really helped me to see how I am spending my money and where I can change spending habits."
- "I really enjoyed the session. I was able to obtain tools and knowledge that will help me improve my finances."
Investing in your staff’s financial wellness is proven to support staff retention.
- "We combined ARP salary supplements, incentive pay based on goals, with education and tools from The Financial Wellness Essentials course to improve staff financial wellness and promote retention. Prior to implementing these strategies, our turnover rate was 33.4%. In August 2022, we offered the Financial Wellness Essentials course and aligned it with the distribution of goal-based incentive pay. From September 2022-January 2023 our turnover rate has dropped to 6.6% and we have seen 9.5% growth in staffing within the Head Start program."
- Heather Decker, Senior Director of Early Childhood Development, Regional Economic Community Action Program, Inc
- Online, Self-paced Coursework
- Live Financial Planning Workshop
- One-Year Access to Monthly Office Hours with Certified Financial Advisors
- Personalized Welcome Kits from The Beans with all materials needed for the live session
- One-Year of Access to Online Course
- One-Year Premium Access to The Beans app ($500 Value)
- Certificate of Completion
- 24/7 Access to Transcript
The Beans is a financial wellness company built by former math teachers and University of Oxford researchers to help educators feel less stressed about their everyday finances. The Beans’ workshops and app use Visual Financial Planning (VFP) and other evidence-based strategies that are proven to reduce financial stress. The Beans works with and vets financial experts that carry a wide range of background knowledge and certifications. They help guide conversations and questions around credit score, debt consolidation, interest rates etc..