| Welcome back 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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Got Debt? Eliminate It!
Financial Resolutions | |
'Tis the season for making resolutions. While we have all been bombarded with countless ads encouraging us to lose a few pounds or take steps to maintain our health, wouldn't it be nice to make a resolution to ensure our "financial health" improves throughout this next year? 
Last year, it was reported that the average American has between $10,000 and $12,000 in debt. Whether your debt is comprised of credit card debt, student loans, and other loans, by paying them off you not only reduce the risk of bankruptcy, but you also alleviate the stress that being in debt can cause.
When paying off debt, there are a couple of methods to choose from. Experts recommend paying off the debt with the highest interest rate first. By attacking the highest interest rate, you will decrease your balance, and thus decrease the amount of money that you pay in interest each month. Once this debt has been eliminated, move onto the next-highest interest rate, until all of your debts have been eliminated.
Others, however, recommend paying off the lowest balance first. Because the idea of paying back debt is quite daunting, consider starting small. Once you pay off one debt in full, you may find yourself encouraged to keep paying off any additional debt and you can then use the money to pay off your current debt much faster.
Be sensible when paying off debt. Avoid pawnshops and payday advance lending outlets for quick sources of cash, as they usually charge many fees coupled with high interest rates.
The key to success is to stick to your plan once you decide that you want to become debt-free. For resources and tips on how to pay off debt, visit the CFCO's CashCourse site, or simply click here.
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| Mindful Money
|  This month the CFCO's Mindful Money column will focus on Post-Secondary education options, as well as some of the tax benefits that parents may receive as a result of their child enrolling in a higher education institution. Cass Wright, from Pathways to Post-Secondary Education, will be lending his knowledge and expertise as the CFCO's financial expert this month.
For more information about Cass or any of the Center for Financial and Consumer Outreach's financial experts, visit our "Ask an Expert" page, or click here. |
National Financial Capability Challenge
March 12 - April 13, 2012 | |
The National Financial Capability Challenge is a FREE event for all educators working with high-school students ages 13-19. The purpose of the challenge is to increase student knowledge and awareness of financial literacy topics so that they can take control of their own financial futures. Not only will the NFCC challenge all participants, but they will be rewarded for their participation and success. Each student will receive a certificate, and those schools and states with the highest participation rates will receive special distinction.
If you are interested in learning more about the National Financial Capability Challenge, please visit the CFCO's website, or simply click here. |
Parents' Corner - Webinar Now Available!
Online Resource Center for Parents | |
This CFCO is pleased to announce the creation of an all-new online parent resource center available. The resource center is complete with resources, activities, and information for parents to help their children learn about financial literacy topics. The information and resources cover all age groups. This fall, a free webinar hosted by our director, Erica Jackson, in partnership with the Pennsylvania Treasury Department is now available for viewing. To review the webinar, or to view the Parents' Corner page, click here. |
| Save the Date!
Money Matters - May 31, 2012
On Thursday, May 31, 2012 the Center for Financial and Consumer Outreach, in partnership with the Pennsylvania Securities Commission and Department of Banking, will be hosting a Money Matters Symposium at Penn State Erie, the Behrend College. Whether you are looking to manage your money more effectively, start investing for your future, or simply looking for better financial strategies, this event will be of benefit to you. The symposium is free and open to the public, but space is limited. Stay tuned to find out more about this event in the coming months.
2nd Annual High School Symposium - May 16 and May 17, 2012 | |
On May 16th and 17th, hundreds of high school students from all over Western Pennsylvania will come together at P enn 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.
This year's event will also include workshops for educators as well as non-profit staff. The workshops will focus on effective techniques for the implementation of financial concepts and much more.
For more information on last year's event, click here. Registration materials for this year's event will be available soon. |
| Program Information & Samples
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If you are interested in learning more about the CFCO's financial literacy outreach programs, simply visit the link above, or click here. In addition, there are samples of each presentation so that you can get a feel for what they include. Some programs also have informational videos for your viewing. Once you get to the site, simply click on the program that you would like to learn more about to view samples and additional information about that program.
Also, if you are interested in requesting one, or more, of the programs, follow the link at the bottom of the page to the Program Request Form, or click here to view the form. |
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New! Good Financial Decisions
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Good Financial Decisions is a FREE online learning self-study program for teen and adult audiences and covers the four personal finance topics; Borrower Be Aware, Digging Out of Debt, Understanding Employee Benefits, and Where to Stash Your Cash. Each session is about 30 minutes long, and worksheets and handouts are part of the program. Good Financial Decisions provides current information young adults must understand in order to achieve financial security. For more information, or to request this program, contact the CFCO, or fill out a program request form here. |
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2010 - 2011 Annual Report | |
Interested in learning more about the outreach initiatives and programs that CFCO carried out last year? Our 2010-2011 Annual Activity Report is available for viewing on the CFCO website. |
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"Like" Us on Facebook
Stay Connected | |
If you have not already "liked" the Center for Financial and Consumer Outreach, you may want to in order to stay up to date on what the CFCO is doing. New outreach initiatives, CFCO events, and the latest in financial news are all posted regularly on our Facebook page in an effort to keep consumers informed.
To "like," search "The Center for Financial and Consumer Outreach," or 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!
At the start of each new year, we all hope to make some changes for the better throughout that year. So we want to know:
If you were to make a "financial resolution" for the coming year, what would it be?
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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