County program teaches faculty, students to save
About 20 UA employees are cashing in on a Pima County program that could fill their pockets with an additional $2,000 a year after the millennium.
Project Money 2000 helps participants decrease debt or increase savings by $2,000, said Linda Block, a Pima County cooperative extension agent who works in conjunction with UA family and consumer sciences.
The program aims to help 2,000 people with money management, and currently has about 156 Arizonans enrolled, Block said. It offers two workshops a month to guide participants on topics such as goal setting and finance education, she said.
"We're seeing so many families and individuals struggle in our community," Block said.
About 24,700 Arizonans filed bankruptcy in 1997 - a 25 percent increase from the previous year, said Kim McGrigg, a spokeswoman for Consumer Credit Counseling Service. She said 5,775 of those who filed live in Tucson.
About 60 percent of cases were filed because of credit card debt, Block said.
She said students also need to watch their finances closely because it's common to graduate with about $2,500 in credit card debt and $18,000 in student loans.
A history of bad credit can affect students after they graduate, Block said. Buying a car, renting an apartment or applying for a job can be complicated by a person's credit record.
"They may have to postpone decisions until they get their finances in order," she said.
The program has been available in Pima County since April 30, Block said. Program participants have check-ups every six months.
While many par-ticipants are making progress, official results will be available only after the check-ups at the end of October, she said.
About 35 states are offering the Money 2000 program, which was started at Cornell University in 1996.
Block said it costs $10 to enroll, but the fee can be waived in some circumstances.
Some UA students said the program would be useful.
"Even if I put money into my savings account, it is too tempting," said engineering sophomore Danitza Moreno. "So if somebody would help and give me other alternatives to choose from I would consider them."
Education senior Michael Bresler said finance management is important for students to learn.
"A lot of time they (students) don't understand how much it costs to live on their own and then they take loans," Bresler said. "Some of the cost is unavoidable, but some things could be prevented."
To enroll in the program, contact the Cooperative Extension office at 621-5161.
Rachael Myer can be reached via e-mail at Rachael.Myer @wildcat.arizona.edu.
|
