MONEY 2000plu$ offers help with financial management

For people needing help with money matters, there is a program called MONEY 2000plu$, a personal financial management program designed to increase the financial wellbeing of individuals and families through increased savings and/or reduced household debt. Participating families are encouraged to increase

The need for enhanced financial management skills is evident. Between 1985 and 1996, Indiana's personal bankruptcy rates doubled. Young adults are graduating from college with debt loads in excess of $800-permonth payments. In 1996 the U.S. savings rate was only 4.9 percent.

The MONEY program helps to enhance families' financial stability and well-being through increased savings and reduced indebtedness. Unless citizens are able to effectively manage the money they earn and use it to accomplish their financial goals. communities are unable to thrive and prosper.

Money saved by families is generally invested back into communities through a variety of plans, including: savings accounts, business endeavors, purchasing stock and buying municipal and government bonds. Increasing investment holdings in financial institutions by citizens from their own communities lowers the cost of capital for those financial institutions. Reducing indebtedness increases families' financial stability and reduces economic risk, and returns money to creditors and businesses within their communities.

Participants enroll by paying a $10 subscription fee and setting goals for saving money and/or reducing debt. In return they receive a bimonthly newsletter, fact sheets and worksheets in the mail. Every six months participants evaluate their progress; from these evaluations extension educators gather data about how well the program is working.

The MONEY program began in Indiana the spring of 1999. To date there are 118 participants. Amount of increased savings reported by participants at the end of 1999 was $70,916, and the amount of decreased debt is $28,299. For more information about the program call 800-EXT-INFO. 40.'