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Smart Money Solutions
 
In 2009, NDI was contracted by Walmart to create and facilitate a financial literacy series that included:
ABCs of Smart Money Solutions
 
Smart Money Solution Tools

Smart Money Solutions Survey

We facilitated the financial literacy series in Atlanta, GA, Houston, TX, Las Vegas, NV and Raleigh, NC. We also presented the information at the National Hispanic Council on Aging Conference in Washington, DC.

 
Project Description

The financial literacy series, The ABCs of Smart Money Solutions, introduces individuals to the basics of money management by highlighting the following:

A = Attitude and Analyzing Spending Habits.
B = Budget
C = Credit
‘s = Savings

To compliment these basics, we distributed tangible tools to the individuals that attended the financial literacy series so that they could put into practice creating and using a Monthly Budget, Spending Diary, Weekly Menu and Shopping List.

Sample Tools:

Survey Data


In addition to the financial literacy workshop, NDI created a survey that was completed by each attendee. The survey was designed to capture how individuals manage their money and identifies the resources and services that they most commonly use.

Key findings of the Smart Money Solutions survey:

  • 75.8% of the respondents identified that they use the services of a financial institution and 19.7% of the respondents identified that they use the services of the Walmart Money Centers.
     
     
  • 39.4% of the respondents identified family, friends, or neighbors as a resource and service that they use to manage their money.
     
     
  • 36.4% of the respondents identified that they use online banking and 21.2% use money management websites.
     
     
  • 12.1% of the respondents identified that they use check cashing services other than Walmart Finance Centers.
     
     
  • 31.7% of the respondents stated that they used a paid preparer to file their annual tax return and 3.3% used the tax filing services at Walmart. 13.3% stated that they used free tax assistance services in the community.
     
     
  • 71.2% of the respondents stated that they paid bills with their tax refund, 23.1% stated they used their refund for shopping while 26.9% specifically stated they used their tax refund for groceries.
     
     
  • 82.8% of respondents stated that they use a checking account to manage money. 59.4% stated that they use a debit card and 4.7% stated that they use a pre-paid stored value card.
     
     
  • 78.1% of respondents stated that the Grocery department was the department they use most frequently and 62.5% identified general household items.
     
     
  • 52.5% of respondents stated that they would come to Walmart to learn more about budgeting and managing money.
     
     
 

 
For more information, please contact:
 
Michael Roush, [email protected]