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Free info packet just right for Christmas or the New Year
December 22, 2008
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| Marsha Goetting photo by Kelly Gorham |
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Several organizations have teamed up to provide free stocking-stuffers that can help you make good financial decisions for 2009.
Montana State University Extension, the Montana Credit Unions for Community Development and the First Interstate BancSystem Foundation are providing packets to help you manage finances more effectively, said Marsha Goetting, MSU Extension Family Economics Specialist.
Goetting, who authored the contents, said the packets can be used as holiday gifts or as New Year's Resolution gifts for those who want to become more effective money managers in 2009.
"Not only would this be an unusual holiday gift, but it has the added benefit of saving the cost of purchasing other 'stuff,'" Goetting said. "Best of all, the packets are free in recognition of the financial stress that many Montanans are experiencing."
The packet contains a checkbook "register alternative" that helps track all expenses, a tool that lets users see the financial consequences of paying the minimum on credit cards, a savings goals register, credit card tracker, schedule of non-monthly expenses, as well as a list of other resources available from MSU Extension, and many more helpful tips.
Goetting said her favorite from the group is the register that is about the size of a checkbook and helps track cash, check, debit or credit cards expenses. The register is accompanied by a fact sheet that describes how to use the system.
"With this information, you can know at a glance where your money is going," Goetting said. "That helps you make realistic decisions about the adjustments you want to make in the various family living categories such as food and transportation during this financially stressed time."
Goetting said one Montana grandmother has purchased 10 of the registers each year for several years to use as holiday gifts for her grandchildren. This year, because of financial support of the Montana Credit Unions for Community Development and the First Interstate BancSystem, the check registers are included in the packet without charge to Montanans.
Another resource is the Credit Smarts Slide Calculator. This tool lets you see the consequences of paying just the minimum on your credit cards. For example, one study says that the average credit card debt load is about $10,000. If you only make the minimum payment each month, you end up paying over $9,420 dollars in interest and it would take 20 years to pay it off. And this assumes that you don't make additional credit card charges.
If you would like to receive a packet e-mail Goetting at goetting@montana.edu, call (406) 994-3511, or write Goetting at MSU Post Office box 172800, Bozeman, MT 59717. You can also contact your local Extension office to give the agent your mailing address and the number of packets you want to receive.
This story has one sound bite, 21 seconds, available on the web.
Marsha Goetting (pronounced "Getting"), MSU Extension family economics specialist, says this is the perfect time to take control of your finances (:21)
http://www.msuextension.org/msunews/Soundbites/MGpackets1208.mp3
Contact: Marsha Goetting (406) 994-5695 or goetting@montana.edu
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