| Welcome to the Center for Financial and Consumer Outreach's (CFCO) e-newsletter! The CFCO is an applied outreach unit of Penn State Erie, the Behrend College 's Sam & Irene Black School of Business . Our mission is to conduct outreach to educate the public, from kids to adults, on financial literacy issues. The Center's outreach programs focus on financial management and literacy, as well as college preparation and workforce development.
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Helpful Saving Tips
Simple tips to help your savings grow | |
It's no real debate that our nation is currently facing some of the worst economic throes in its history. Because of this, many people are facing a lot of uncertainty about where they stand financially, as retirement funds and investments seem to take tremendous hits on a daily basis. One type of investment that consumers can have peace of mind about is the money in their savings accounts. Unlike money in the stock market and many retirement funds, consumers can be sure that their money can be kept safe, and rather than decrease, increase.
Have you ever heard the phrase "Pay yourself first"? As an adult, you might think that this saving cliché doesn't apply to you, and that it is rather elementary, but saving cash now will put you ahead in the long run. Imagine being able to pay off your house and credit cards or retire comfortably in the near future. Rather than being stressed out about paying all of your big fixed expenses, you could have a cushion, big or small, that you can use to reward yourself.
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 wisely.
If you have not started, the best way to begin to grow your money is to put some of it into a savings each month. It doesn't matter how big your monthly deposits are, but rather it is important that you are consistently adding money to your account. In fact, pretty soon even a deposit as small as $40 a month will add up and start to earn interest. Try these simple tips to start saving, or to make sure that you are consistently adding to the savings that you have:
- Include savings as part of your monthly spending plan.
- Have your employer, or financial institution, automatically deduct money from your paycheck and deposit it into a savings account.
- Put any tax refund, raise, bonus, or gift you receive into savings rather than spending it.
To learn more about compound interest, paying yourself first, or how to invest your money, click here. |
| Investing in 2012
Monday, November 14, 2011 | |
The Center for Financial and Consumer Outreach is co-sponsoring an event entitled "Investing in 2012" on Monday, November 14, 2011 at Penn State Erie, the Behrend College. The event will begin at 7:00PM and will be held in the Sam P. Black III Conference (180) in the Jack D. Burke Center.
The panel includes experts in the Finance field, including several faculty members of the Sam & Irene Black School of Business, as well as professionals from the community. Each panelist will take time to present on topics that they feel are most important for investors to know in the coming year, including: IRAs, risk aversion, and hot sectors of the market.
This is a free event open to all in the community who wish to better understand what to expect in the coming year. Light refreshments will be provided. For more information, please click here.
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| 2011 Jump$tart National Educator Conference
November 4 - November 6 | |
Jump$tart is offering an educator conference in partnership with the National Educators' Association to be held this fall on Capitol Hill in Washington, D.C.. This conference is open to all educators who teach grades K-12 and are interested in incorporating financial literacy topics into their own classrooms.
This conference will provide educators with unique networking opportunities with fellow educators from around the nation, 15 hours of professional development, a chance to meet and hear from national leaders in finance, government, and education, along with several other great opportunities.
Registration for this event is $350, including two nights of private hotel accommodations and all conference meals. Teacher registration opens Tuesday, September 6, so make sure to mark it on your calendar to reserve your spot at this year's Jump$tart National Educators Conference.
Not a teacher? There are also opportunities for financial literacy organizations to display some of their resources at the educator conference.
For more information about Jump$tart's National Educator Conference, please visit Jump$tart's website here. |
| New Programs!
Check out all the CFCO's new offerings | |
This fall the Center for Financial and Consumer Outreach is pleased to introduce several new programs. Updated versions for both Driver's Training for the Credit Card Highway and CashCourse are also now available. In addition, the Center for Financial and Consumer Outreach is offering a new general financial literacy program entitled "Getting a Smart Start with Money" this school year. Through a strategic partnership with the National Financial Educators' Council, the CFCO is also introducing a Financial EduNation Initiative for students, parents, educators and the community. This initiative is scheduled for release this fall.
In addition to expanding the programming that we offer, the CFCO also is in the process of developing more comprehensive train-the-trainer videos for our programs, so that we can train more educators, effectively reaching more students this academic year.
For an updated list of all our programs as well as a copy of our program request form and informational videos, Click Here. |
| Coming Soon!
Look for these programs and Initiatives
In the coming months, the Center for Financial and Consumer Outreach will be unveiling several new initiatives and programs. Two of these new initiatives include making financial experts more accessible to our readers, as well as a brand new online learning space for students and teachers alike.
- This year, the Mindful Money column will be structured differently, as noted below. With this, each month the column will focus on financial topic and information and advice. Furthermore, the CFCO's website will be updated to include our expert's contact information and topics so that our readers can get comprehensive financial information directly from experts within their fields. Topics to be discussed include: identity theft/fraud awareness, ways to save during the holiday season, as well as getting smart about credit.
- In addition, the CFCO's partnership with the National Financial Educators' Council has expanded to include an online site that can provide for continued learning and growth inside and outside of the classroom. The Financial EduNation Resource Center will be launched this fall. This site will include information and curriculum for parents, teachers, organizations, and students that are designed to help communities gain practical financial skills.
Look for more information about these initiatives in the coming issues of the Center for Financial and Consumer Outreach's e-news. | |
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| Save the Date!
Dates for 2012 High School Symposium Announced | |
The Center for Financial and Consumer Outreach will once again be holding its High School Symposium Event in May of 2012. On May 16th and 17th, hundreds of high school students from all over Western Pennsylvania will come together at Penn State Erie, the Behrend College to participate in the 2nd Annual High School Symposium. This is an event you won't want your students to miss.
For more information on last year's event, Click Here. |
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New! Innovative Educator
A Monthly Spotlight on Innovative Educators | |
This academic year the CFCO would like to recognize innovative educators who go above and beyond in terms of educating their students about financial literacy topics. Each month this column will spotlight a different educator, who will not only receive the recognition in the CFCO's e-newsletter, but also a $10 Fandango gift card and a certificate for their achievement.
The CFCO recognizes that teachers work very hard with limited resources, and as a result those who go above and beyond should be recognized. We are now seeking nominations for any educators that you feel are deserving of some extra recognition due to their commitment to educating their students about financial literacy topics, as well as their innovative approaches to implement financial education in their classrooms. You may nominate an educator, or if you are an educator, you may nominate yourself for this award.
Please email all nominations, including a short description of why your nominee should be recognized to cfco@psu.edu, and look for the first Innovative Educator in the November issue of the CFCO's e-news! |
| New! Mindful Money Column
Giving you the latest financial tips and news from the CFCO's financial experts. | |
This year, the CFCO's Mindful Money column will be published a little bit differently. With this, each month will focus on a different financial topic, and will feature a different financial expert who will share their advice with our readers. For more information on our experts, click here.
Scheduled for launch in October, the first topic will be "Getting Smart About Credit." If you haven't subscribed yet, and would like to begin receiving the Mindful Money e-feature, click here. |
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Contact Us
Erica Jackson, Director
ekj2@psu.edu
(814)-898-6784
Megan Wolf, Graduate Assistant
mew5212@psu.edu
(814)-898-6553
Amanda Shields, Intern
ars5458@psu.edu
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CFCO Homepage | |
Our new website is equipped with everything that you need to set out on the road to becoming financially savvy!
On our new site, you will find links to current financial news, a background on our center, a list of our current programs complete with a program request form, and our contact information. | |
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Join the Conversation!
With resources being cut, many financial literacy courses are being dropped from schools. According to a USA Today article, Fed Chairman, Ben Bernanke, commented that improving financial education is "vital to the future of our economy."
So, we want to know: Did you ever receive financial education as part of your schooling as a youth?
Vote Here | | |
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Additional Resources
CFCO's Financial Calculators:
Saving for a Goal
Back to School Budget
My Bonus After Taxes
Save A Million Dollars
Mortgage Payment
For more information and more financial calculators, visit the CFCO's website here. | | |
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