By AMANDA ARNOLD
Before the Louisville talk show host Charla Young started her show, “Power to Change,” and before she began working for WAVE-TV, life wasn’t as easy.
Years ago, when she moved from Mississippi to Lexington, Ky., to work for a television station, she received a bump in salary, but it wasn’t what she expected. In Mississippi, she didn’t pay city or county taxes, but In Kentucky she did, which offset the raise. On top of that, she and her husband discovered they were having a honeymoon baby, so things got tough.
“There I was, pregnant and in the dark, owing four months of rent. Even though I was on TV, I owed money.”
Young often shares her story on her program and through her company, Power to Change Communications. Recently, she shared her story with the audience at the Southern Indiana Asset Building Coalition’s second-annual Purse Strings event in Jeffersonville. The topic of the evening was “sudden change.”
“This year, we are really focusing on the things that can happen in life, such as death, disaster, divorce and unemployment and anything unexpected,” said Whitney Bishop, the coalition’s executive director. ‘We want to make sure in 2013 everyone gets their ducks in a row and have the best year ever.
“In an instant, life can change. In our own backyard in March, we had the tornado that they are still rebuilding. Southern Indiana Asset Building Coalition rushed to figure out how to help and what can we do.”
During the Purse Strings event, others shared their stories of sudden change, which was followed by success.
Kathryn Rae Furrow was at the top of her game with a career on Broadway, but after leaving an unhealthy relationship, and returning to Indiana, she found herself and two girls in a financial struggle.
“My home life wasn’t balanced, so I gave it up to move back home. Things got worse. I gave up a six-figure income and it was all gone, and I didn’t know where to go,” said Furrow.
Eighteen months later, and after coaching help from SIABC, Furrow is now back on her feet and her girls recently saved money for a cat and a dog.
“We are at the point where we didn’t have to save in order to keep the lights on and we could celebrate,” said Furrow, who is the founder of Acting for Your Life and is very involved with the SIABC.
During the event, participants learned more about their financial personality and goal setting.
“This is amazing, and with a lot of inspiring women and wonderful vendors to start the Christmas season off with a bang. I plan on having my kids do the worksheet and our family setting goals together,” Lynn Green said about the event and the financial worksheet she completed.
The coalition partnered with the Center for Women and Families for the Purse Strings event, as the center does have a number of success stories of women experiencing sudden change.
As always, SIABC will continue to offer its free tax help for families who make less than $60,000, and the Get Ahead Grant, which goes to financial counseling for families.
For more information about SIABC, Money Habitudes and upcoming workshops , visit siabc.org and like them on Facebook.