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Chi Ishobak
"Bad Debt is History, Thanks to Chi Ishobak Financial Coaching"
Sean Winters, the executive director of Chi Ishobak, often invokes Potawatomi ancestors when talking about financial wellness. "Our ancestors were planners," he says. "They only took what they needed, and celebrated what Mother Earth gave us."
Winters, who has headed the Pokagon Band’s financial institution for 4 years, says that in village days, the people's survival depended on managing those gifts. It's different today, when the lure of easy credit promises a "buy now, pay later" lifestyle. Chi Ishobak offers financial wellness courses and individual coaching to help citizens who are trying to get out of debt and embrace planning for their resources. John T. Warren is one citizen who took advantage of this service, and in five months he has an emergency fund, a savings account and he's paid off $7,000 credit card debt. "This whole thing has changed my life in a number of ways. I have no worries because if an emergency pops up, I've got it covered," Warren said. "It really works." Winters cautions that it's easy to talk about, but hard to live.
"I'd been using credit cards for this and that, and had gotten turned down for loans in the past," Warren remembered. "Sean offered help with a budget, but I wasn't ready for it.” But late last year, Warren knew he was ready. "In December something hit me, and I knew I was tired of the stress and wondering where the money would come from. Sean motivated me to start it, and I haven't stopped." "When you look at it on paper, I didn't do anything; it's all John's work," said Winters.
What exactly did Warren do? Made (and stuck to) a budget. Reduced eating out. Started an emergency fund. And every extra dollar went to paying off credit card debt. Winters provided personal coaching. Not telling Warren what to do, but asking questions, gathering info, offering options, and empowering him. Winters recognizes that it's hard to trust someone with such a sensitive subject, but he assures confidentiality, trust, and no judgment.
"It was hard at first, but I was ready to make the commitment," Warren said. "If my mobile bank balance doesn't match up, if I need moral support, I call Sean, bring him in some receipts. It feels real good."
Warren estimates that by end of May all his credit card debt will be paid, and his truck will be paid off by November. After that he'll save three months’ worth of expenses. "I've never seen anyone do this so quickly and be so committed from ground zero," said Winters. "We saw changes within two weeks." Winters emphasizes that it's all about planning, just as the ancestors knew.
"Surviving the winter wasn't possible without planning. Today, you can experience a death of spirit under financial stress. Each week John's posture got a bit better, and I haven't seen him without a smile since. His pride has increased. He's doing this not just for himself, but for his community."
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