Cooperative
Extension
FAMILY AND CONSUMER SCIENCES - MCE OFFICE
Increasing Family Economic Stability
Overview
Family Economic Stability Home
Retirement and Estate Planning | Savings and Investments
Family Financial Stability:
Through statewide educational classes, Extension faculty provide
information to help Maryland families acquire knowledge and skills to
become proficient in budgeting, selecting and using credit, insurance and
other consumer purchases and record organization. Programs are targeted to
middle, moderate and low income Marylanders, especially women and
minorities. Program topics include Financial Mistakes Even Smart People
Make, Insurance Scams, Fraud and Misconceptions, Financial Impact of Death
and Divorce, Legal Tools for Preserving Personal Autonomy, Insurance for
the Elderly, Taking Charge of Your Health Care, Getting Rich Slowly and
Carefully and Writing Wills in Maryland.
Family Financial Counseling:
The Extension financial counseling program involves training volunteers and agency personnel to help individuals and families develop useful financial management skills. This program is targeted to financially stressed families, usually with debt problems. Volunteer training consists of six 3-hour sessions and annual updates.
Living On A Reduced Income
The Living On A Reduced Income program is designed to help residents forced to live on less as a result of job loss, underemployment or other crisis, evaluate and alter spending. Home Economics faculty teach classes for corporations, state and local government agencies, train officials and their staff, present workshops on military installations, and distribute timely publications including "Living On A Reduced Income". Volunteer financial counselors assist clients with budget counseling and debt negotiation.
Retirement and Estate Planning:
Retirement Planning programs help individual sand families plan for and maintain their lifestyles in retirement. Participants learn to estimate the amount they should save for retirement, to understand Social Security and pension benefits, to estimate retirement income and expenses, to actively manage retirement assets, to set estate planning goals, and plan for transfer of assets at death.
Savings and Investments:
Saving and Investment programs include information to help participants understand the meaning and value of compound interest and associated risk, to increase the amount saved for achieving personal/family goals, to understand the characteristics of various inventment product, and to evaluate the bank safety and select the most economical banking services.
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