Coppell ISD will soon roll out a program expected to help its employees manage their finances. The district will partner with the Region 10 Educational Service Center to provide FinPath, a financial wellness program.
“The idea of this is to empower anyone of any income background to reach financial wellness,” said Diana Sircar, executive director of finances.
Employees who sign up for the program will get a wellness score by taking a three-minute questionnaire regarding cash savings, loan or credit card debt, life insurance, spending habits and long-term savings such as retirement.
Participants will also have the ability to link their financial accounts to the FinPath site to allow them to create budgets and manage spending. The FinPath dashboard tracks goals and progress and includes several learning modules on a variety of financial topics, such as how to set up a checking account, what you need to know to buy a home, insurance information and more.
Participants will also be able to learn what they need to do to buy a home, how to handle a mortgage, how to plan out their retirement and how to pay off student loans.
“The whole point to FinPath is to help everyone’s financial wellness by giving people the ability to create budgets and track their finances using tools to make those financial decisions and giving them the information that they need specifically on things that they may not have any experience in,” Sircar said.
Sircar said the program is completely anonymous and private. Employees can provide as much information as they want and they can customize it to fit their needs.
“I think this is a great thing to offer our employees. I hope people will use it,” said Trustee Tracy Fisher.
Trustee David Caviness said the program will be beneficial to younger employees and those fresh out of college.
“They need help and a lot of times, they’re afraid to go find help or where to get started so I think it’s a good start,” he said.
CISD plans to roll out the program in January. Sircar said the district can measure how many employees are using the program as well as what age group.