The national financial and credit crisis has many residents scurrying to find ways to save and better manage their money, and the need for financial management education in the state has intensified. The goal of most New Hampshire residents is financial security, keeping pace with day-to-day basic needs, as well as having the ability to save and invest for the future.

UNH Cooperative Extension’s financial management educational efforts for youth and adults have already increased New Hampshire residents’ skills and as a result, many changed their financial practices to help them reach their financial goals. These goals include decreasing debt, starting or adding to an emergency fund, following a spending plan, paying bills on time and increasing savings.

In addition to money management education for adults, teachers are trained to teach personal financial education for youth with the National Endowment for Financial Education’s High School Financial Planning Program, in collaboration with NH Jump$tart Coalition. Last year nearly 3,500 high school students received personal finance education in New Hampshire. This total is estimated to be about five percent of the New Hampshire high school student population.

UNH Cooperative Extension also coordinates the N.H. EITC Alliance where asset-building coalitions and statewide partners work towards increasing the numbers of taxpayers getting their tax returns prepared for free with a focus of increasing the Earned Income Tax Credit for those eligible.

The EITC population is at 200 percent of poverty or less, who are in need of additional dollars to make ends meet. The dollars gained by the individuals/households is typically spent in the communities where they live. With 68 free tax preparation sites located statewide for tax year 2007, the free tax preparation sites filed 13,607 returns. As a result, taxpayers received $2,334,383 in Earned Income Tax Credit, $1,192,035 in Child Tax Credit and $10,111,262 in refunds. At many of the free sites, money management education is available.

A Merrimack County resident said, “This course made me much more aware of my income, debt and need to budget.” From a Grafton County resident, “I am now better at planning and saving for the future and for emergencies.” From a Strafford County resident, “After completing this program, I will now start managing money and getting my debt cleared.” From a Cheshire County resident “I have learned that I need to pay attention and get organized when it comes to money.” From a Sullivan County resident, “I am very happy with how I have cut out all of the extras. I have freed up money that allows me to become more financially sound and reach my goals.”

UNH Cooperative Extension money management education has made a tangible difference in New Hampshire residents’ lives.