10/03/2008

OSU Extension Offers Family Finance Information, Programs

Writer:

Candace Pollock
pollock.58@cfaes.osu.edu
(614) 292-3799

Martha Filipic
filipic.3@cfaes.osu.edu
(614) 292-9833

COLUMBUS, Ohio -- Gas prices are up, food prices continue to rise, homeowners continue to struggle through the mortgage crisis, and the credit crunch is squeezing wallets. For those struggling during the current financial crisis, Ohio State University Extension can be an invaluable organization to turn to.

From basic financial education to coping with bankruptcy, OSU Extension offers a wide variety of management programs and resources designed to help individuals and families better manage their money and get back on track to financial stability.

The following are just a few of the Extension resources available to Ohioans:

• Financial Security Information. On this Web site, OSU Extension's Family and Consumer Sciences program has compiled resources designed to help individuals accumulate adequate savings to meet long-term financial goals and obligations. Preparing for retirement and potential long-term care costs takes planning, saving and debt control. The Financial Security page provides tools needed to reach those goals. See http://fcs.osu.edu/cs/fin-sec.php.
• Real Money, Real World. This six-lesson curriculum was developed in 2005 to help young people become aware of the money-management skills they'll need for the rest of their lives. Designed to be a partnership of local Extension educators, schools, and community volunteers, the program focuses on basic finance principles, including how education and occupation affect income; how expenses and paycheck deductions add up; and how to be smart in using checking accounts, savings, and credit. A 2008 evaluation of 3,563 participants showed that the program makes a dramatic difference in raising youths’ awareness about the costs to maintain a household and the interrelationships among educational levels, jobs, and income. In fact, awareness increased by nearly 50 percentage points on concepts such as the cost to maintain a household, expenses to care for children, and the effect of paycheck deductions. Real Money, Real World has been endorsed on the Ohio Treasurer of State's consumer finance Web site. For more information, see http://www.ohio4h.org/workforceprep/rmrw.html or contact Beth Bridgeman, OSU Extension educator in Greene County, at (937) 372-9971 or bridgeman.7@osu.edu, or Nancy Hudson, Extension specialist in family finances, at (330) 263-3799 ext. 2831 or hudson.2@cfaes.osu.edu.
• Ohio Saves. This is a campaign designed to encourage Ohioans to build wealth and reduce debt. Ohio Saves is part of America Saves, a national campaign involving more than 1,000 nonprofit, government and corporate groups that encourage individuals and families to save money, reduce debt and build wealth. See the Ohio Saves Web site at http://fcs.osu.edu/cs/oh-saves.php for information on local efforts, or to sign up directly with America Saves. For additional information, contact Caezilia Loibl at (614) 292-4226 or loibl.3@osu.edu.
• New Start for Financial Success. New Start is a financial management class specifically designed for people who have filed for bankruptcy. In late 2005, new regulations required that people who file for bankruptcy must complete a two-hour financial management class. In early 2006, OSU Extension began offering New Start as an option to fulfill that requirement, and the program is now offered in 44 counties. Following U.S. Bankruptcy Court guidelines, the class covers spending plans, money management, wise use of credit, and how to get consumer information. For more information on New Start, see http://newstart.osu.edu, or contact Nancy Hudson, Extension specialist in family finances, at (330) 263-3799 ext. 2831 or hudson.2@cfaes.osu.edu, or Sharon Seiling at (614) 292-4224 or seiling.1@osu.edu.
• eXtension Personal Finance. This interactive Web tool is supported through the national Cooperative Extension Service and offers an abundance of information on personal finance, from consumer credit to estate planning to saving and investing. It also includes learning lessons, calculation tools, nearly 1,200 frequently asked questions, current news, upcoming events, and the opportunity for consumers to ask questions and receive answers from Extension personal finance experts. See http://www.extension.org/personal_finance.