Weekend Fair Offers Free Financial Advice
To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.
Then come back here and refresh the page.
City residents who have trouble managing budgets or who feel like they are drowning in debt can receive free financial help at this weekend's "Financial Empowerment Fair." NY1's Money Matters reporter Tara Lynn Wagner filed the following report. Financial coach Juan Maldonado says when it comes to money, knowledge is power.
"It's scary out there, and I think just getting a better idea of where you are financially and where you want to be is imperative," says Maldonado.
Saturday, June 27
10 a.m. – 3 p.m.
Queens Central Library
89-11 Merrick Avenue
Jamaica, Queens
So this weekend, the city will hold its first-ever "Financial Empowerment Fair," featuring workshops on credit, debt, budgets and scams, as well as free one-on-one counseling sessions.
Such help is available year-round at the city's financial empowerment centers, which began popping up around the boroughs last fall.
"Hopefully people will leave with a lot of information in their hands and know at least the next place to go," says Rebecca Smith, a senior financial coach at the Financial Empowerment Center.
While designed to help clients achieve any number of financial goals, from saving for retirement to buying a home, Smith says most of the people she sees are in crisis.
"Oftentimes we have a bag of mail that has been unopened. People just feel very overwhelmed," she says.
Through free, confidential counseling, coach and client work together to sort through paperwork, contact creditors and devise a detailed recovery plan.
"Once you really lay it out, piece by piece, step by step, slowly, you watch all the stress start to dissipate and people are really able to start focusing on their goals," says Smith.
In addition to the centers, help is also available over the phone. Consumer Affairs Commissioner Jonathan Mintz says New Yorkers can get the help they need in the language they need it.
"To the extent that someone is looking for financial counseling in Russian or classes geared towards the elderly, all you have to do is call 311 and our operators in 170 languages, 24 hours a day, can connect you to trusted quality services that are available anywhere in the city," says Mintz.
The Office of Financial Empowerment hopes to hold similar fairs in the future as part of their campaign to spread the word that free, confidential help is available.
Those who are unable to attend the fair but are interested in getting financial advice can visit any one of the city's financial empowerment centers which are located in four of the five boroughs.
To find the nearest center, call 311 or visit nyc.gov/ofe.