Debt – Avoiding Traps & Making a Plan
Welcome to the third installment of Everyday Money Skills: A Community Series, led by Michele Eden Montas. This series is designed to reduce financial stress, build confidence, and provide realistic tools that reflect how people actually live and work in Downeast Maine. Financial health is a critical, often-overlooked part of overall well-being. This program approaches money without judgment or assumptions, recognizing that people’s financial difficulties are shaped by more than personal decisions. Participants are welcome to attend the entire series or hop in just for the programs that appeal to them! For more information, reach out to Lizzie at lizzie@whrl.org or by phone at 413-717-7827.
Interested in attending more programs in this series? Here is the full list of upcoming programs, all of which take place on Mondays from 6-7:30 pm:
- April 27: Credit & Savings – Making Money Work for You
- May 4: Local, State & Federal Financial Resources
- May 11: Taxes, Retirement & Investing – The Basics
This program’s focus will be on understanding debt without fear.
Topics Covered
- Payday loans and high-interest products
- “Good” debt vs. “bad” debt (and why context matters)
- Which debts to prioritize
- How credit unions can offer safer alternatives
- When to seek help (nonprofit counselors, credit unions)
Frameworks Introduced
- Snowball vs. avalanche repayment
- Certified Credit Union Financial Counselors
Takeaway
Debt is a tool. The key is learning how and when to use it.
Michele Eden Montas is a finance professional with a background in economics and a long-standing connection to Washington County. Her family has been in the community since her grandparents’ generation, and Michele has been coming to Washington County every year for all of her life.
Michele studied economics at Princeton University and now works for Ernst & Young in their financial services organization. She believes financial education should be accessible, non-judgmental, and grounded in the realities of people’s lives, especially in rural and seasonal economies like Downeast Maine. This program is offered as a way to share tools that can help people feel more confident and supported when it comes to money.
