SDSU Extension offering Money Mentor Program

SDSU Extension recently launched a community volunteer program to help South Dakotans learn how to facilitate educational programming and become masters of financial knowledge and skills. The Master Health Volunteer Money Mentor program will certify individuals to provide personal finance workshops in their communities for various workplaces, service organizations, and other non-profit groups.

According to the 2018 National Financial Capability Study from the Financial Industry Regulatory Authority (FINRA), 47% of South Dakotans reported lacking an emergency savings fund and 31% of people with credit cards only made the minimum payment some months during that period. year. People without emergency savings funds lack protection against unexpected expenses, leading many of them to 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 people of all income levels. Money Mentors will become a network of trained volunteers who provide one-on-one money management guidance and group personal financial education. The programs will address personal finance literacy needs in communities across the state.

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

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Applications for Money Mentors are being accepted on a rolling basis.

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

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