Staying on top of the rapidly changing world of personal finance is a challenge. Financial products and services are constantly changing. And as if that were not enough, financial information needs change With every age and stage of the life cycle. No wonder consumers are often frustrated.
To help consumers find the personal finance information they need, the federal government has developed MyMoney.gov. The site includes information for youth, adults, and teachers and is organized around five building blocks for managing and growing your money.
The building blocks at any age are:
EARN. Making the most of your earnings starts with understanding your pay and benefits. This web site features actions you can take, helpful hints and tips, and links to other resources such as a tax withholding calculator, ways to make your health benefits work for you, and getting help to pay for college.
SAVE and INVEST. The sooner you develop the savings habit, the better. The more time you have to reach your goal, the greater the impact your savings will have on your success. The web site features information for beginners as well as experienced investors.
PROTECT. Keeping your earnings and assets safe from harm is critical to financial success. Avoiding frauds and scams, guarding against identity theft, saving for emergencies, and purchasing insurance help you to hold onto your money and your property. The web site features links to fact sheets about various forms of insurance and keeping household records.
SPEND. Wise spending decisions are the key to long-term financial success. Comparison shopping, couponing, and shopping with a list help you to get more for your money. The web site features tips for household budgeting, banking, and smart money choices.
BORROW. Credit is an important but easily abused financial tool for reaching important goals. Tips for the wise use of credit and links to fact sheets about credit and loans, credit reports, and credit cards are available from the site.
UGA Extension also provides a wealth of resources to help families earn, spend, save/invest, protect, and borrow wisely. For more information, contact your local Family and Consumer Sciences County Extension Agent.
