Have you ever heard the phrase "Pay yourself first"? Saving cash at any point in your life will put you ahead in the long run. Imagine being able to pay for a car or go on a vacation by using money you have saved up. It would be nice, wouldn't it? Instead of being in credit card debt, or having a cushion of money to reward yourself with an occasional trip or nights out on the town.

The millionaire's secret has always been to live within your means, something that many Americans from all income levels have a hard time accomplishing. However, even if your income is modest, you can cut the little expenses that add up, avoid borrowing money at high interest rates, and watch your money grow as you save and invest.

The best way to do this is to put some of your money into savings each month, no matter how small you start. Pretty soon, even $40 a month will add up and start to earn interest.

Try these tips:

• Include savings as part of your spending plan
• Have your employer or financial institution automatically deduct money from your paycheck and deposit it into a savings account
• Put any tax refund, raise, bonus, or gift you receive into savings rather than spending it

To learn more about compound interest, paying yourself first, or how to invest your money visit cashcourse.org/psb.

In the midst of many bold and controversial changes in education it is important for Governor Corbett and Education Secretary Ron Tomalis to hear your voice, and for you to have the opportunity to directly hear their plans for education reform in Pennsylvania. 

Team Pennsylvania Foundation in partnership with the Pennsylvania Department of Education, will be hosting a series of forums across the commonwealth to discuss the 2011-12 state budget and what it means for education. 

Seating is limited and registration is necessary. Visit http://teampa.com/education to learn more. 

Do you need help to pay your mortgage and save your home?  

If you are three or more months delinquent on your mortgage and the delinquency is due to involuntary unemployment, under employment, or medical reasons, you could be eligible for an EHLP loan. You must also be the owner and occupant of the property in foreclosure.

For further details, click here.

In 2000, The JumpStart Coalition for Personal Financial Literacy determined that April would be Financial Literacy for Youth Month and three years later, US Congress designated April as the official Financial Literacy for Youth Month. The month was named such to provide children with knowledge to create higher economic literacy.  In 2004, Congress passed a resolution that renamed April to be Financial Literacy Month. The month is now recognized in order to help all ages become more financially savvy.
 
The Center for Financial Outreach (CFCO), established in 2004,  has developed several interactive learning formats to stimulate participants' interest in financial literacy.Learning resources include workshops, informational websites, online games an much more!

 
In recognition of Financial Literacy , the CFCO is partnering with the Erie School District on April 15, 2011, to provide nearly 800 local youth with a day's worth of financial literacy training. Additional information on the event is below.

Financial Cent$ for High School Students

In recognition of Financial Education Month, The Penn State Behrend Center for Financial & Consumer Outreach (CFCO), in partnership with the Erie School District, to provide a one day event entitled: Financial Cent$ for High School Students. This one day event, scheduled for April 15th from 8:30 am - 3:30 pm, will place trained volunteers in classrooms to provide financial education to students in the district's inner city high schools.

During this daylong event, nearly 800 students will be impacted through interaction with mentors and volunteers from various corporations and organizations including: Penn State Black School of Business (Students), United Way, Wells Fargo, Girl Scouts, First Niagara, PA Career Link, WICU/WSEE, PA Securities Commission and more! 

This is a great way for the Penn State Behrend Center for Financial & Consumer Outreach (CFCO), in partnership with our volunteers, to give back to the community... in particular, provide an educational investment into our inner city youth.

For additional information on our Center and the programs being offered April 15th, please visit our website at http://cfco.psu.edu . You can also contact Erica Jackson, Director of the Center for Financial & Consumer Outreach at (814) 898-6784 or ekj2@psu.edu.

Upcoming Online Programs

The CFCO is partnering with the Penn State Cooperative Extension to promote a financial workshop series via internet seminars (webinars). The cost will be $25.00 and the webinars will be held on Wednesdays April 6, 13, & 20 from 7-8:00pm. If you have a scheduling conflict-- don't worry! All sessions will be recorded and available for later review. To learn more, or to sign up for the workshops, please visit http://guest.cvent.com/d/5dqgl2. 

Good Financial Decisions

Good Financial Decisions is an interactive money management program for people interested in improving their money management skills. Each of the four modules provides you with information and worksheet that will help you make good financial decisions that are appropriate for your situation. After you complete each module, please provide feedback about what you learned and changes you plan to make. Three months following completion we will email you a follow-up evaluation to hear about your progress. The four modules are:

Borrower Be Aware: Learn what credit is, how to get it, use it wisely, and ways to avoid excess indebtedness. Identity theft prevention strategies are also explained.

Digging Out of Debt: There is a difference between good debt and bad debt. Learn successful strategies to help pay down debt and increase your savings.

Understanding Employee Benefits: In addition to your wages, most employers provide numerous other benefits that employees fail to take advantage of because they don't know about them.

Where to Stash Your Cash: Once you've worked hard for your cash, you want it to work equally hard for you. Learn about various financial products and how they can help you achieve your financial goals.

For more information or to register for the program, please click here.

High School Symposium

Penn State Erie, The Behrend College is partnering with the National Financial Educators Council to offer a High School Symposium on Financial Literacy and College Success. Over 500 underserved/first generation high school sophomores and juniors throughout Western PA and Buffalo, NY will have the opportunity to attend this free event being held on the Penn State Behrend Campus on May 18th and 25th.

Activities for the day include a Real Life Simulation that will deliver practical financial literacy and life skill lessons that engage students through live interaction with volunteers, a tour of the campus, speakers, educator workshops and lunch.

Students visit 14 different stations and make life decisions that will impact them when they graduate from high school.  Upon entering the event, they choose a career and make education choices that effect their income. Participants quickly become aware of the ongoing expense of each decision as they learn about insurance, dry cleaning and utility costs.

The hands-on booths will include:  

• Credit
• Career
• Banking
• Housing
• Insurance
• Transportation
• Education & skills
• Community service
• Savings & investments
• Day-to-day & luxury
• Health & nutrition
• Trusted advisor
• College admissions/financial aid
• Financial literacy/college preparation
• Service learning/philanthropy

Click here for additional information on the event!

Mindful Money

Check your inbox later in the month for the newest edition of Mindful Money, an e-newsletter hosted by the CFCO which features a different financial topic each month. The advice will come from the Center for Financial and Consumer Outreach's financial expert and Penn State Graduate, Kathryn Nusbaum. Kathryn Nusbaum, CFP®, CPA is the Chief Executive Officer and co-founder of Middle America Planning, Inc. She is passionate about moving her clients towards a confident and secure financial state of mind. In addition to working with clients one on one, Kathryn speaks regularly to students and adults across the country on effective money skills and aligning conscious, financial decisions with personal goals. She will also be available via e-mail to answer any personal financial questions that you may have for her. 

 

 http://s3.bd.psu.edu