Money Smart Program in Brazos County

In support of the Administrative Priority to Target Outreach and Expansion the Money Smart Program was planned and implemented to reach limited resource families. Many families face the constant challenge of managing limited resources to meet everyday expenses. The increasing complexity of the financial system and the lack of formal financial literacy education further burdens families who are trying to make ends meet, particularly low income families.

Money Smart is a financial management program developed by the Federal Deposit Insurance Corporation (FDIC). While targeted at adults outside the financial mainstream, this curriculum can be used with adults who have low financial knowledge and skills to help them build financial knowledge, develop financial confidence, and use banking services effectively. The Money Smart program includes 10 modules, exercises, and participant guides. Each module includes an evaluation instrument that measures participant’s knowledge of the concepts taught before and after the class.

In 2009, Money Smart was used by the Texas AgriLife Extension Service to increase the financial literacy of a variety of Brazos County residents, including the general public, adult probationers and participants of United Way’s Individual Development Account (IDA) program.

Money Smart topics included:

• Introduction to Banking Services
• Your Rights as a Consumer
• Credit and Credit Cards
• How Your Credit History Affects Your Credit Future
• How to Choose and Keep a Checking Account
• How to Keep Track of Your Money
• What Home Ownership Is All about
• Loans
• Saving for the Future
  

In Brazos County, 47 educational contacts were made by conducting 30 educational sessions using the Money Smart curriculum. The CEA-FCS taught Money Smart Classes for adult probationers at the Brazos County Adult Probation Department in two lunch and learn series. An evening class was also conducted at the Brazos County Extension Office for families participating in the IDA program in partnership with United Way and Citibank as well as the general public. Participants were very position about this curriculum and improved their knowledge of financial management.

This program will continue to address its goal to increase financial literacy and reach out to limited resource families.

Content for this article was provided by Dale A. Fritz, Ph.D., District Extension Administrator-Texas AgriLife Extension Service.