Fixed Ops Journal - February 2022 - F19

FIXED OPS JOURNAL
FISCAL FITNESS
A
lli Walker, an executive assistant at
Austin Subaru in Texas, discovered
many of the dealership's service
technicians were living paycheck
to paycheck. Walker, who took fi nancial literacy
classes after feeling unprepared to manage
her money, wanted to help.
" I thought it would be great if we could teach
them [fi nancial literacy] and give everybody
some fi nancial independence and really empower
them with that knowledge, " she says.
Walker approached Service Director Gus
Hoelscher about teaching classes that drew
on the debt reduction and budgeting lessons
she learned from the online courses she took.
Hoelscher says Walker is a " numbers person, "
well versed in accounting and " totally obsessed
with fi nancial well-being and [wanting]
others to fi nd the peace it brings you. "
Hoelscher and General
Manager Chris Hudson
approved the classes, seeing
a benefi t to helping
employees get out of debt.
" Anything we feel we can
do to better our people, we
will try, " Hoelscher says.
Walker: Power
in knowledge
New thinking
Austin Subaru's thinking
runs counter to past -
and perhaps in some cases current - attitudes
of general managers and service directors
around the country who saw the benefi t
of having an employee constantly in debt and
in need of money.
Th at employee, the thinking went, was always
motivated to work.
Th e fi nancial literacy program is open to all
employees, not just techs. Th e classes, which
began last April , cover budgeting, saving and
paying off debt. Th ey also tackle health savings
accounts, 401(k)s and individual retirement
accounts.
Walker off ers one class a week for four
weeks. Each class is 30 to 45 minutes and is
held in the evenings. Between 25 and 30 employees
have attended at least one class.
Hoelscher emphasizes the classes are fi nancial
literacy off erings; Walker doesn't provide
fi nancial advice or make investing recommendations.
Walker
says learning fi nancial literacy tools
off ers the employees the chance to pursue
bigger goals, such as buying a new car or a
house. Th ey also allow them to " move up in
the world " and not feel like they're in a " dayto-day
rut. "
And employees who are more fi nancially
stable can lead to a more productive work
force. If they're not worried about money or
paying their bills, " they can focus on the job
and become a harder and better worker, " she
says.
Debt relief
Mark Castillo, a manager in the loaner cars
department, had little knowledge about budgeting
when he took the class. Th anks to a
strategy Walker suggested about paying off
debt, he sold some stocks, used savings and
better managed his existing expenses to pay
off $12,000 in student loans.
" It was such a relief, " he says.
He also paid off $2,000 he owed on two credit
cards and keeps just one for bills. He appreciated
learning how to use HSAs to invest as
well.
Richard Clary, a technician, followed Walker's
recommendation to budget better and
prioritize certain debts to pay off the $4,000 he
owed on his truck last October and $1,000 he
owed on his phone a couple months later.
" It was refreshing to know I didn't owe anyone
anything " and start the year off debt-free,
he says.
Walker put Clary's budget in writing, which
" helped illustrate how much better I could be
spending my money, " he says.
He also appreciated how she explained
complicated concepts in a way that was easy
to understand. Clary hopes to purchase a
home this year.
For dealerships that struggle to recruit and
retain service staff - especially technicians -
a class on fi nancial literacy can be seen as a
perk. Castillo, who has been with Austin Subaru
for nine years, says the class and other activities
such as gardening, music and outdoors
clubs make him want to stay.
" I love it here, " he says.
Hoelscher says the goal is to get the classes
launched at all seven retailers and the body
shop that are part of Continental Automotive
Group " and add it as another great reason to
work for CAG. " 
FEBRUARY 2022 PAGE 19
Dealership's fi nancial literacy classes give techs, others the tools to succeed
JULIE HALPERT
foj@autonews.com
Austin Subaru's
Alli Walker says
fi nancial literacy
can give
employees the
chance to pursue
bigger goals, such
as buying a new
car or a house.
Fixed Ops Journal - February 2022

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