| 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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All You Need is Love...and a Financial Plan
February Feature | |
It is the season of love, but before couples take that next step in their relationship, they should discuss personal finances. It is important to remember that marriage not only marries hearts, but also finances.
It's no secret that people can become blinded by love, but if you stick to a plan, your financial situation does not have to be impaired. An important component of any romantic relationship is a solid financial footing. The CFCO suggests that couples discuss the following:
- Be mine, or yours? Will you and your spouse-to-be keep finances separated or combine them? Consider individual money styles and find a system that works for both of you.
- Love's Cost. Calculate costs and discuss how bills will be paid. Both may contribute to the bill payment, but who will physically write the check to pay the bills, monitor the investments, and take car of the taxes. Consider setting a date every month to review and discuss finances.
- Sharing Credit. It's important that spouses are aware of the others' credit situation. Marrying a person with bad credit will not drag down your stellar record. However, you other half's credit will be factored in when applying for joint financing. Knowing ahead of time will help you to plan more strategically.
- Cupid's Arrow. Couples should develop a plan to shoot down existing debt, starting with balances that carry the highest interest rates. Whether or not the pair works as a team or alone, debt must be tackled.
- Sweet Savings. Saving as a couple fosters teamwork and is essential in times of financial hardship. Decide how much you want to save as a couple and do it automatically from your paychecks.
Article provided by the American Banking Association. |
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America Saves Week
February 19 - 26, 2012 | |
Over the past several years, we have witnessed our fairly stable economy breakdown in response to many issues. With the economic vitality of our nation at risk, it is important that we as individuals save enough money for our own economic survival. With unemployment rates higher than they have been for over two decades, it is imperative that we have a way to provide for our families in the event that we must. In addition, studies have shown that Americans are not saving nearly enough for retirement. Two organizations have recognized this, and for over four years, the American Savings Education Council and America Saves have coordinated America Saves Week.
America Saves Week is annual opportunity for oganizations to promote good savings behavior. The week also allows individuals the opportunity to take a closer look at their own savings status. Each year, roughly 2,000 organizations take part in the week, reaching milli ons of people. The idea is that through positive societal encouragement and support that Americans will be more inclined to build more wealth, not debt.
This year the theme is Set A Goal, Make A Plan, Save Automatically. Join the Center for Financial and Consumer Outreach for 2012's America Saves Week. For more information, click here.
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| Mindful Money
|  This month the CFCO's Mindful Money column will focus on saving money in 2012. Doug Hassenbein, from the Pennsylvania Securities Commission, will be lending his knowledge and expertise as the CFCO's financial expert this month.
For more information about Doug or any of the Center for Financial and Consumer Outreach's financial experts, visit our "Ask an Expert" page, or click here. |
Financial EduNation
An Online Resource Center for Everyone! | |
Financial EduNation is an online resource center offered by the CFCO in partnership with the National Financial Educators Council. This online tool is full of resources for students, parents, educators, and community leaders. Students can test their knowledge of financial literacy topics, while parents and educators can learn how to communicate more effectively with youth about financial literacy topics.
Qualified organizations receive complementary access to the comprehensive Financial EduNation resource center. This is provided on a first-come, first-serve basis. For more information about the Financial EduNation resource center, simply contact at our office at cfco@psu.edu. To visit Financial EduNation, click here. |
National Financial Capability Challenge
March 12 - April 13, 2012 | |
Join the CFCO in the National Financial Capability Challenge! The challenge is a FREE event for all educators across the nation who work 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 ther 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 | |
The CFCO is pleased to announce the creation of an all-new online parent resource center available on its website. 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, and 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, PA Treasury Department, AARP, and Department of Banking, will be hosting 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 strategies, this event will be of benefit to you. The symposium is free and open to the public, but seating 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 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.
This year's event will also include workshops for educators as well as non-profit staff. The workshops will focus on effecti ve techniques for the implementation of financial concepts and much more, as well as personal education on topics including: credit, savings and investing, and consumer protection.
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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"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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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 now available for viewing on the CFCO website. |
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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!
In honor of America Saves Week, we want to know:
How much money do you save on average throughout the year?
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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