By: Rachel Brauner | OneOp
Adapted from the Latest Issue of PowerUp.
Maximizing financial wellness is crucial for military families, who often face unique financial challenges due to frequent relocations, deployments, and other aspects of military life. As part of a nationwide educational network associated with land-grant universities, Cooperative Extension plays a significant role in providing comprehensive financial literacy programs and helping military families tackle financial challenges head-on. Through workshops, webinars, and free online resources like budgeting calculators and debt management worksheets, the Cooperative Extension System (CES) offers tailored financial education, often targeting specific audiences such as youth, adults, veterans, and families. By leveraging evidence-based strategies and community partnerships, the CES helps military families take control of their financial futures and thrive.
How Cooperative Extension Tailors Education for Every Community
Partnerships and collaborations with federal and state agencies, nonprofits, and financial institutions help the CES develop comprehensive community-based financial literacy initiatives. CES curriculum is grounded in research, providing evidence-based strategies on topics such as retirement planning, estate planning, and investing. Through these diverse initiatives, Cooperative Extension aims to improve the financial well-being of individuals and families.
The University of Missouri Extension’s Making Money Count program provides online resources, workshops, and tools to help individuals budget, understand credit, and reduce debt. The Smart About Money initiative, a collaboration between the National Endowment for Financial Education and the CES, features online courses and tools to guide informed financial decisions. The University of Georgia Extension’s Your Money Your Future program gives participants practical tools to manage their income, budget effectively, and navigate financial services. State Extension Services offers Farm and Ranch Financial Management programs specifically designed for farmers, covering agricultural financing, record-keeping, estate planning, and debt management.
The University of California Cooperative Extension’s Money Talks series educates teens on budgeting, spending habits, and financial planning using interactive activities. Ohio State University Extension’s Real Money Real World program provides youth (grades 6-12) with real-world simulations where students apply their financial knowledge. The University of Illinois Extension’s Money Basics curriculum explores the psychology of spending, borrowing money, understanding credit reports and scores, debt repayment and savings strategies, and short-and long-term planning.
Among these programs, one stands out as a unique model for financial literacy across Cooperative Extension to support military service providers and families: PowerPay. Recommended and used by Extension professionals in multiple states, this tool has been embraced by the military and major organizations like Fannie Mae, America Saves, and NeighborWorks Training Institute. According to PowerPay creator, former Utah State University Extension faculty Dean Miner, “Prior to the internet presence of PowerPay, many military counselors and affiliated groups like the Air Force Aid Society started using PowerPay based on exposure to the program at the Association of Financial Counseling and Planning Education” (AFCPE).
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