February 23, 2011

For more information about other UK financial literacy projects, view this video news release .

Recognizing the importance of savings and good personal finance habits, specialists with the University of Kentucky Cooperative Extension Service unveiled the Managing in Tough Times Initiative during the designation of Kentucky Saves Week in Frankfort.

 While savings rates have increased from previous years, they are nowhere near where they need to be for people to successfully navigate through economic hardships. Kentucky Saves is just one way the initiative works with partners from various state agencies to educate Kentuckians on ways they can become more financial savvy.

UK’s initiative is part of the larger national Cooperative Extension Service’s Managing in Tough Times Initiative and is comprised of UK specialists from diverse agricultural, family and consumer sciences and 4-H backgrounds.

“Our goal is to provide Kentuckians with financial education, so they can recover from the recent economic events and help them be prepared to manage their finances in the event of future economic challenges,” said Jennifer Hunter, UK assistant extension professor for family financial management and co-leader of the initiative.

As part of the initiative, UK specialists compiled a series of online resources to help Kentuckians manage every aspect of everyday life on their Moneywise website, http://www2.ca.uky.edu/moneywise/discover.html . Resources include educational information, decision aids and calculators.

UK specialists also teach financial management classes throughout the state. For more information on financial management classes, contact a local office of the UK Cooperative Extension Service.