December 11, 2008

Energy and finances explored at Extension workshop

Lori Scharmer, Ward County Family Economics Extension Agent presented basic information on managing money in tight times, as well as for ordinary situations. Her presentation, "Financial Fitness in Times of Turbulence," advised those present how they could be "in control" of their own finances through good money management. Among the items she addressed was to keep track of money in and money out, to create financial goals, using a computer program to provide direction in bookkeeping, setting aside an emergency fund that would cover three to six months of expenses, and to evaluate personal credit use and debt level. The turbulent markets and the dismal media coverage should be largely ignored, stated Scharmer, and consumers should not panic and try to keep themselves educated with reliable sources of information. She also advised them to trust their strategy once they decided what to do. "Tune out market noise," she stated. Scharmer also told parents to talk to their children about finances when things are tight, in an age-appropriate manner.

The Weather Network