Paducah nonprofit offers resources, support with financial literacy classes | News

PADUCAH — Financial literacy is an important skill, but with foundational financial education in high schools often lacking or nonexistent, some may not know where to turn to learn how to manage their finances.

Family Service Society, a Paducah-based basic needs assistance nonprofit, aims to help people improve their financial situation with once-monthly financial literacy classes taught by area professionals.

Nick Poe, a personal wealth adviser for Professional Wealth Advisors, said inflation in recent years has exacerbated many families’ financial difficulties, and said traditional budgeting methods may not adequately address present-day financial situations.

“We see just a lack of foundational understanding of finances,” Poe said. “It just seems like it’s kind of lacking in a lot of areas, but largely the clients that we see coming here just have life cycles where they’ve gone through this over and over again. So a lot of what we’re working on is mindset, goal setting. Our experience has been that traditional budgeting, things like that just don’t really cut it anymore, that there’s just a life cycle they’ve got to learn how to break.”

Poe said that the first step for people trying to improve their finances is being honest with themselves about the reality of their situation.

“We just see a lot of people come in, I think, that really kind of ignored it for so long that they don’t fully understand where they are,” Poe said. “In order to improve anything, I think you have to understand where you currently are.”

Poe said that the Family Service Society’s resources like food, clothing, and utilities assistance help people get through the difficult periods, move toward understanding their financial situation, and taking steps to improve it.

Poe said that there can often be a stigma towards seeking financial help, especially when negligence or addiction are involved.

“What we see oftentimes is, just life happens to people sometimes,” Poe said. “When those events happen, they need somebody to turn to. So I think a group like this provides good resources at a time of need.”

Poe said the issue of financial instability is a personal one for him, having grown up in a family whose financial situation was not always favorable. He said getting into the right mindset and overcoming generational issues can be the hardest battle.

“I feel like my parents didn’t know these resources existed,” Poe said. “Maybe they could have helped them in their time of need. So for me, it’s looking back and hopefully trying to pay it forward, now that I’ve been able to get through some of those situations.”

Poe said that financial classes are taught at Family Service Society once a month, either by him or other providers. Visit Family Service Society’s Facebook page for more information about attending future classes.