SDSU Extension offering Money Mentor Program

The SDSU extension recently launched a community volunteer program to help South Dakotas learn how to facilitate educational programming and become a master of financial knowledge and skills. The Master Health Volunteer Money Mentor program will certify individuals to provide personal finance seminars in their communities for various workplaces, service organizations, and other nonprofit groups.

According to the Investor Education Foundation’s Financial Industry Regulatory Authority (FINRA) National Financial Capability Study 2018, 47% of South Dakotas said they did not have an emergency savings fund, and 31% of people with credit cards made the minimum payment only a few months during that year. Individuals without emergency savings funds do not have a buffer against unexpected expenses, with the result that many of them use credit cards to bridge the gap between income and expenses.

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“This financial empowerment program is designed to help consumers achieve their financial goals by increasing their knowledge, skills and resources,” said Lorna Wounded Head, SDSU Extension Family Resource Management Field Specialist. “Community volunteers are the best resources to provide this service because they know the needs of individuals and families.”

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As our economic situation continues to evolve amid the COVID-19 pandemic, personal finance education is needed for those at all income levels. Money Mentors will become a network of qualified volunteers who provide individual money management guidance and group financial education. Programs will address personal finance knowledge needs within communities across the state.

Training for those interested in the program will include approximately 40 hours of online and in-person training. The training will use the Your Money Your Goals toolkit developed by the Consumer Financial Protection Bureau. After completion of training, Master Health Volunteers are considered trainees until they complete 40 volunteer hours within their first year of service. After these hours are completed, the volunteers become certified Master Health Volunteers.

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Money Mentor applications are accepted on an ongoing basis.

For more information or application information, contact Lorna Wounded Head, Field Specialist for SDSU Extension Family Resource Management, at 605-782-3290 or [email protected]


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