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Financial tips for consumers
By Steve Cain
About 120 Hoosiers are $775 better off on average this year than last, thanks to a Purdue Extension program called Money 2000plu$.
In 1999, 126 people enrolled in the financial management program. What they learned helped them save $70,000 and reduce their debts by $28,000. The combined savings and reduced debt per person average more than $775.
Carol Turner, Extension educator in Vigo County, says the program is a success because people work largely on their own. That's important because they can keep their personal, financial information private.
Alice Alderson of Terre Haute says the program is helping her save for retirement and her children's education. "As a single mother, I'm constantly concerned about having enough money for myself as well as for my children," Alderson says. "It's a very worthwhile program, and I would encourage anyone to take advantage of it."
People enroll by paying a $10 subscription fee and setting goals for saving money or reducing debts. They receive a bimonthly newsletter, fact sheets and worksheets in the mail. Participants evaluate their progress every six months.
This year, the program also will help people with major credit card debt determine the best payment plan for them.
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