Thriving in Saline County--Jan/Feb, 2005

News from the Saline County Extension Center

January-February 2005

Thriving in
Saline County Newsletter Index

Human Environmental
Sciences Extension
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Life should NOT be
a journey to the
grave with the intention of arriving
safely, but rather
to skid in sideways,
chocolate in one hand—strawberries
in the other, and
screaming, “woo hoo—what a ride!”

-Original author unknown

Thriving in
Saline County
is written by:
Dr. Cynthia Crawford
Family and Consumer Economics Specialist, Saline County
Extension Office
660-886-6908
crawfordc@missouri.edu
153 S. Odell,
Marshall MO 65340

Living Well in Saline County

Make Goals to Manage Your Money Even Better in 2005

Early in the new year, you’re especially likely to hear comments like:

“Now that the holidays are over, this family has to get real about our finances…”
“I checked out the balance on the credit cards and couldn’t believe how much we spent on gifts…”
“Thank goodness gasoline has gone down in price; however, it’s still $30 to fill my car!”
“I haven’t slept well for a long time. I do okay during the day, but thinking about our family’s financial mess keeps me awake at night.”
“I’d never considered using the PayDay loan place, but maybe just once to get the kids ready to go back for the second semester it would be okay.”
“We don’t have even one thin dime saved for retirement or our child’s college expenses. Not one thin dime.”
“Whenever Pat calls home from the military base, the conversation starts out fine but then it gets really tense when we get around to the topic of money. We fight a lot about money – only now, its long distance.”

What do all these people have in common?

They feel like their family finances are out of control. This is the time of year when people are especially stressed about family finances. Spend less time worrying by using these ten ideas for taking control of your finances.

Ten Terrific Tips

1.	Whose job is it to take control of your financial situation? Point that finger right at yourself first, and then ask your family members to join you. What are your financial goals for 2005? Begin by looking forward – as individuals, and also as members of a family. What do you want to do in 2005? What do you want to be? What do you want to have? What do you want to contribute? Peter Drucker, one of the world’s top management thinkers, tells the story from his middle school years. When I was 13, I had an inspiring teacher who one day went down each row of boys and girls asking “What do you want to be remembered for?” None of us, of course, could give an answer. He chuckled and said, “I didn’t expect you to be able to answer it. But if you still can’t answer it by the time you’re 50, you will have wasted your life.” What do you want to be remembered for? Here’s another question to answer about your life and finances. Is what you’re doing getting you what you want?
2.	Run from predatory lenders. Have you noticed how there are more all the time? Predatory lenders are very expensive sources of credit. Their annual percentage rates of interest (APR) used to average about 365%, however, their APR’s are now often between 600% and 700% when an annual percentage rate is calculated. Examples include many of the refund anticipation loans, title loans, payday loans, rent-to-own, and loan consolidation places. It wasn’t many years ago that these types of places were unheard of in rural America. Now, there are more every year in Saline County communities.
3.	Three good reasons to take on long-term debt. You may be surprised at the list. A quality home. Shelter is a necessity – especially during the winter. For many of us, a home is our major asset and, if selected carefully and maintained, the value of our home will go up over time. What are three things to remember about buying a home? They are location, location and location. That’s another article, though. A quality education. An ability to earn a living and education tend to go hand-in-hand. At a minimum, a person needs to finish high school. One of the best investments a person can make is to get an education beyond high school to add additional knowledge and skills that are valued by employers and to allow one to earn a good living. Invest in yourself to have a competitive edge in the work world. A quality business. Going into debt to buy a business that has a reasonable expectation of helping you earn a living is third on the list. You may be startled at this short list. How about furniture? Eating out? A vacation? Christmas gifts? Many of us use a credit card for convenience to purchase these consumer items. The goal, though, is to pay off the credit card bill in full each month instead of paying interest on consumer items.
4.	Legal problems often result in financial problems, too. Accidentally writing a bad check Speeding Making a driving error and causing a wreck Not wearing a seat belt Working to prevent legal problems is also working to prevent financial problems. They are too expensive, both in money and energy, to solve.
5.	You cannot borrow your way to financial health. Overusing credit is like digging your financial grave. If you’re in a financial hole already, quit digging!
6.	Pay yourself first. Financial security isn’t so much about how much income you have as it is about how much of your income you choose not to spend. Even something as small as a flat tire that must be replaced immediately can send your family into a financial crisis. A refrigerator that has to be replaced (they don’t last forever) can tempt you to consider predatory lenders. Having some money set aside for emergencies can add significantly to your financial peace of mind and is important for a sound financial plan.
7.	Get organized financially. Sort your mail over the garbage and be selective about what comes in the house. Open your important mail and deal with it. Do not ignore it. Have one place in your home designated for financial papers, as opposed to having papers all over the place.
8.	I dare you and your family to keep track of spending for one month. Anyone that is old enough to spend money is old enough to participate in tracking spending. How you think you spend your money and how you actually spend your money may be very different. If you’ll take the “Crawford challenge,” I guarantee you’ll learn something.
9.	Separate needs from wants. No one wants Saline County families to do without necessities. Make sure necessities are met – even if you have to ask for help. Chances are you can also address some wants (but never all of them).
10.	Avoid identity theft. NEVER provide your mother’s maiden name, your social security number, birth date, bank account numbers & routing number, credit card numbers or other personal information without a VERY good reason for the person asking to have it.

2005 Saline County Financial Management Classes
Marshall: FSD Office
	February	3rd	1-3 p.m.
		10th	1-3 p.m.
		17th	1-3 p.m.
	April	8th	9:30-11:30 a.m.
		15th	9:30-11:30 a.m.
		22nd	9:30-11:30 a.m.
	June	8th	1:30-3:30 p.m.
		15th	1:30-3:30 p.m.
		22nd	1:30-3:30 p.m.
	September	13th	5:30-7:30 p.m.
		20th	5:30-7:30 p.m.
		27th	5:30-7:30 p.m.
	November	2nd	3:30-5:30 p.m.
		9th	3:30-5:30 p.m.
		16th	3:30-5:30 p.m.
Marshall: Covenant Presbyterian Church Classes presented in Spanish
	February	1st	6-8 p.m.
		8th	6-8 p.m.
		16th	6-8 p.m.
Slater: Housing Authority
	April	8th	1:30-3:30 p.m.
		15th	1:30-3:30 p.m.
		22nd	1:30-3:30 p.m.
Sweet Springs: Food Pantry
	June	8th	9:30-11:30 a.m.
		15th	9:30-11:30 a.m.
		22nd	9:30-11:30 a.m.

Topics Include: Session 1: Basic Budgeting and Money Management 100 ways to save money, Setting up a financial plan, Take control of your money, Great printed information to take home. Session 2: Manage Your Food Dollars Even Better Get the nutrition you need while managing your families money. Common sense nutrition ideas. We’ll try some snacks and learn at the same time. Session 3: Manage Your Housing Dollars Landlord/tenant law. Make some homemade cleaning supplies to take home. Renting versus buying. Dejunk your life. Make your windows more energy efficient for a few dollars.
Free Refreshments!			Door Prizes!

Presenters include:
	Cynthia Crawford, University of Missouri Extension
	Angie Fletcher, University of Missouri Extension
	Virginia Hemeyer, Community Action
	Kathy Walker, Family Support Division
	Keith Ward, Community Action
	Edith Zavala, Family Nutrition Program, University of Missouri Extension
	All classes are handicapped accessible. For more information or to sign up, just call the Saline County Extension Center at 660-886-6908 or e-mail salineco@missouri.edu

Please Recommend & Attend

January 11, 2005
Helping People in Financial Stress and Crisis is a training for community professionals and volunteers. Select the session most convenient—3:30 to 6 p.m. or 7 to 9:30 p.m.
Wood and Huston Community Meeting Room. Thanks to the sponsorship of the Mental Health Association of Saline County, there is no fee to attend. Call Extension at 886-6908 to register.

January 19, 2005
How to Strengthen Your Saline County United Way Application is a training for current and prospective Saline County United Way agencies. Select the session that is most convenient—1:15 - 4:15 p.m. or 6-9 p.m. Wood and Huston Community Meeting Room. The seminar will focus on strengthening United Way applications, non-profit financial management tips and evaluation strategies for United Way projects.

February 1, 8 and 15
Stretch Your Dollars Series—Presented in Spanish. 6-8 p.m. Covenant Presbyterian Church

February 17 and March 17
Tree Selection and Management Workshops (part 1 and part 2). Noon—2 p.m. The workshops are part of the TRIM Grant—Tree Resource Improvement and Maintenance Grant. Notice all the work, too, that has been accomplished on the Courthouse lawn as part of the TRIM project.

March 5
Mind Your Own Business! A business development workshop. 10 a.m.—4 p.m. Missouri Valley College R. Wilson Brown room.

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Last updated:06/22/2004
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