Community Impact Financial Stability Pathway Faces of Success: Kathy Payne
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Title Financial Stability Pathway

Faces of Success: Kathy Payne

2017 is only a couple weeks old, and so far many people are sticking to their New Year’s resolutions. Some desire to improve their physical health this year. Others want to enhance their financial health by improving their credit, increasing their savings and reducing debt. They can accomplish all of these goals in one place: the Nashville Financial Empowerment Center.

“The Nashville Financial Empowerment Center helps individuals who are tired of being overwhelmed by debt, budgeting issues or trying to save money,” said Nashville Financial Empowerment Center Financial Counseling Specialist, Kathy Payne.

The Nashville Financial Empowerment Center is a partnership between the Office of Mayor Megan Barry and United Way of Metropolitan Nashville that provides free 1-on-1 financial counseling to help Davidson County residents reduce debt and increase savings. As long as clients are willing to work on improving their financial situations, Payne knows they can achieve their desired results.

“Many of the clients who come here for help are having problems saving money or living paycheck to paycheck. Sometimes they set the bar too high on their financial goals. We help them come up with plans and set goals that are realistic.”

The plans are working. From 2013-2015, the Nashville Financial Empowerment Center has helped 3,700 clients reduce their debt by $2.9 million and increase savings by $500,000. Payne offers some critical ideas for residents to consider as they examine their financial situations.

“Regardless of income levels, people will always have expenses. They need a plan to manage them. The second critical element is an effective budget. If people don’t know how to manage expenses or differentiate a want from a need, it causes them financial stress.”

Payne and her colleagues at the Nashville Financial Empowerment Center take pride in eliminating the financial stress experienced by Davidson County residents every day.

“The biggest challenge for our clients is for them to face their fears. After they leave their first session, I know most feel better than when they walked in. When my clients reach their pinnacle — whether it’s purchasing a home, establishing a savings account or building their credit — it’s rewarding for me.”

If your New Year’s resolution is to improve your financial health, consider meeting with a professional financial counselor like Payne. The Nashville Financial Empowerment Center is the perfect support tool to help you keep your New Year’s resolution on track.

To learn more about the Nashville Financial Empowerment Center, visit: https://www.unitedwaynashville.org/FEC

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