Neeka Miremadi
For the average person, learning how to make a budget and manage personal finances can be a grueling process of trial and error. And even then, financial problems may stem from a lack of knowledge and expertise. For low-income individuals and families alike, a lack of financial knowledge might mean disaster.
That is why Misty Castle, faculty advisor for the financial coaching program at the CSUN VITA Clinic, and her team of student financial coaches want to bridge the gap between low-income individuals and financial knowledge.
Sponsored by Wells Fargo Bank, CSUN’s financial coaching program offers free financial coaching to local community members in Los Angeles County, including clients of CSUN's VITA Clinic.
“Financial coaching is important because it helps educate clients on the basics of personal finance topics, such as budgets, credit and debt,” Castle said. “These are the building blocks needed to manage one’s own finances and the beginning of financial independence.”
Each student financial coach is personally trained by Castle and must pass a series of financial coaching certifications. This prepares students to obtain the key knowledge and skills vital for a successful financial coaching service.
Darren Viles, a financial coach at CSUN VITA and a senior majoring in finance and risk management, said he understands that finances can be a touchy subject for many people.
Darren Villes
“It’s important to be open-minded during the coaching process," Viles said. "People come with different backgrounds and levels of financial knowledge. We have to understand that. We are not there to solve their problems but to give them the tools to take action in their own lives.”
For many students, the opportunity to become a financial coach gives them a unique experience they can use in their future careers.
“CSUN VITA gave me professional confidence when speaking to clients,” said Neeka Miremadi, financial coach supervisor at CSUN VITA. “It provides students with a unique opportunity to have face-to-face interaction with the people we serve.”
Castle added that none of the benefits of this program would be possible without the help and sponsorship of Wells Fargo Bank.
“Wells Fargo is proud to be a longtime supporter of the CSUN VITA clinic," said Jack Olree, vice president for community giving and philanthropy at Wells Fargo. "It is extremely important for us to meet the needs of our communities, especially the low-to-moderate income households, gaining access to resources and services that can help them become more financially successful. It is indeed an honor to participate in this impactful program. This is way beyond just a business relationship and a true commitment to service positively affecting the community in many ways.”