April 22, 2009

Coaches help citizens take stock of finances in tough times

Using Purdue Extension's "Where Does Your Money Go?" curriculum, financial coaches teach participants how money management practices affect financial stability. Coaches help individuals gain financial control by developing money management skills, such as tracking expenses, identifying needs versus wants, establishing financial goals and developing savings plans. Participating counties include Benton, Dubois, Elkhart, Harrison, Marion, Marshall, Miami, Putnam, Steuben and Tipton.

"This program uses hands-on activities to help participants analyze their current spending patterns and determine ways to adjust spending to stabilize finances," said Karen DeZarn, Purdue Extension consumer and family sciences assistant program leader. "Participants also will have the opportunity to use proven financial strategies by tracking expenses, writing financial goals, and developing spending and savings plans."

Financial coaches can work with participants one-on-one, or they can hold workshops for interested groups.

"The people who benefit most from participating in 'Where Does Your Money Go?' are those who are willing to understand their current financial practices and to make changes if necessary," DeZarn said. "It's available for anyone who wants to participate, however, and even if someone might not be ready to make changes immediately, the information can be used later on."

To learn more about the Purdue Extension financial coaches and "Where Does Your Money Go?" or to schedule a meeting or workshop with a financial coach, call the local Purdue Extension office or 1-888-EXT-INFO (398-4636).

Writer: Jennifer Stewart, 765-494-6682, jsstewar@purdue.edu

Source: Karen DeZarn, 765-494-8252, kdezarn@purdue.edu

Ag Communications: (765) 494-8415;
Steve Leer, sleer@purdue.edu
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