News Release
March 24, 2009

 

Citizens urged to participate in UW CES program Wyoming Saves

Accumulating savings and reducing debt are ideal ways to take charge of personal finances, especially during tough economic times, according to an educator with the University of Wyoming Cooperative Extension Service (UW CES).

“While the federal government is doing everything it can to encourage more spending, I am here to encourage you to do more saving,” said Juliet Daniels, who has launched a statewide program called Wyoming Saves with other members of the UW CES Community Development Education initiative team.

Those who register for the free statewide program will learn how to better save money and reduce debt, and they will also be eligible for prizes.

Enrollment and progress forms are at http://wyomingmoneytalk.blogspot.com. Documents can also be requested by e-mailing larcntex@uwyo.edu or calling (307) 633-4383. The registration deadline is April 1, and all personal information will be kept confidential.

Daniels said it’s important to have at least three months of living expenses in an emergency savings account. She added, “During very tough economic times like we are facing now, it is more ideal to have six to nine months of living expenses saved.”

Even those financially strapped can utilize money saving tips offered by Wyoming Saves.

“The tips we will share will help participants reduce day-to-day living expenses, thus reducing the amount of money they have to withdraw from savings,” Daniels said.

“One of the other key components of the program is helping people reduce their debt if they are not in a position to increase savings,” she noted. “Having a large amount of debt is one factor that makes people financially vulnerable, especially if they experience a reduction in income.”

Daniels said the goal of Wyoming Saves is to enroll individuals, families and groups to either increase savings or reduce debt during April, May and June.

“It matters more about forming a habit than the amount saved,” Daniels said. “New savers can take baby steps, even if it’s saving $1 a week.”

Wyoming Saves is supported by Credit Unions Care (www.creditunions-care.com) and the following Wyoming federal credit unions: Cheyenne-Laramie County Employees, First Cheyenne, First Education, Meridian Trust, Unified People’s, Warren, Western Vista and WyHy.

###

Contact: Robert Waggener, Editor
Phone: (307) 766-3571
E-mail: robertw@uwyo.edu

###