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Cooperative Extension Establishes Partnership with More Than Wheels

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A new partnership between UNH Cooperative Extension and the nonprofit More Than Wheels will open doors to New Hampshire residents looking for better financial security.

Financial literacy, like reading and writing, is a necessary tool if you want to be successful, especially in the challenging economic times which we exist in today. Financial literacy education also has long been a key component of UNH Cooperative Extension’s training for youth, individuals and families.

Consumer debt has grown steadily for the past 40 years. Since the mid-1960s, total outstanding consumer credit relative to disposable income has fluctuated in ranges of 16-21 percent. (Federal Reserve ) That means anywhere from 16 to 21 cents of every dollar goes toward debt. Many Americans find themselves only a paycheck away from financial difficulty.

The partnership between Cooperative Extension and More Than Wheels will focus on a six-session series, “Making Money Work for You,” that teaches financial management skills, basic budgeting concepts, a better understanding of credit, developing a good relationship with your financial institution, and learning how to better track your spending while increasing your savings.

More Than Wheels and Cooperative Extension collaborated to combine the best of their courses and to provide More Than Wheels clients with this training as part of their participation in the program that ultimately secures a low-interest vehicle loan.

“Bringing these two financial education courses together strengthens the ability of both organizations to reach more individuals across our state, and better prepare New Hampshire residents to make the best personal financial decisions possible, strengthening both the individual and our state as a whole.” said Charlene Baxter, family and consumer resources program leader for Cooperative Extension.

More Than Wheels is a nonprofit organization that helps people across New Hampshire change the way they manage their finances and obtain access for a reasonable interest car loan.  Reliable transportation and personal finance management go hand in hand for these families, resulting in greater economic stability across our communities.

Since 2001, More Than Wheels has helped more than 1,500 families in New England finance more than $16 million in loans so they can obtain reliable transportation.

Learn more about UNH Cooperative Extension’s educational information on financial security at http://extension.unh.edu and information about More Than Wheels at www.morethanwheels.org. Or contact Charlene Baxter at Charlene.baxter@unh.edu, orTerristeingrebe@morethanwheels.org