Departmental News

UW campaign encourages Big Horn Basin saving increase

A campaign urging Big Horn Basin residents to pad their pocketbooks and buck the national trend of zero savings gets under way this month.

“Big Horn Basin Saves” encourages individuals to save money to reduce debt, build wealth, and take a bite out of national consumer debt that increased 38 percent last year, said Rhonda Shipp, University of Wyoming Cooperative Extension Service educator.

Shipp, who serves Big Horn, Hot Springs, Park, and Washakie counties, wants to sign up 1,000 people to invest in themselves by committing to save a certain amount. “Over time, my hope is that it becomes habit,” she said.

The regional effort is part of America Saves, which has 53 state and local campaigns with more than 61,000 savers.

The campaign lasts Feb. 25-May 25. Shipp asks people to enroll by using forms available at www.parkcounty.us/extension.htm (click on the Big Horn Basin Saves link) or send an e-mail directly to rshipp@parkcounty.us with the total amount saved over the period. All information is confidential.  Groups or families can enroll as teams. There are no fees to participate.

Conversations with people in finance indicate saving money is not the norm, said Shipp, especially among younger customers.

“It is the exception,” she noted. “They believe saving should be part of everyone’s financial plan, no matter what age or amount of income. In their work, they see customers with little or no savings, and it affects their ability to reach their goals.”

The effort in part is an outgrowth of the Money Talk program Shipp coordinated last year that helped 80 women in 16 communities save or invest money.

“In fact, those participants are helping me with this campaign,” said Shipp. “They are enrolling themselves, posting fliers in their communities, spreading the word, talking about it in organizations or at work. That is what social marketing is all about – people spreading the word to others and becoming positive role models of savings behaviors.”

Social marketing requires people to make a personal commitment to a positive behavior, she said. “I am interested to see if through a marketing campaign we can sign up 1,000 people in a rural population like the Big Horn Basin.”

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