Concepts
Tools
Processes and Skills
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LifeCour$eConcepts

Extension teaches concepts, processes, and skills, and provides tools for individuals and families to learn and practice effective money management techniques. Listed with each

Concepts
Concepts make up the core of the framework. Five primary concepts have been identified as components of the money management education framework. Beneath each concept are listed descriptive topics pertinent to the concept. Associated with each topic are linked resources.

Obtaining Money (topics listed in USDA Framework)

Employment: Links (Extension resources listed for each topic and subtopic)
Entrepreneurship
Transfer payments
Pensions
Interest and investment income
Bartering
Selling assets
Inheritance
Gifts

Spending Money

Basic needs
Discretionary
Cash
Check
Credit card
Debit card
Electronic transfer
Time intervals

Protecting Assets
Risk: Avoidance
Retention
Reduction
Transference

Saving and investing
The need for liquidity versus long-term needs and protection
Ability to assume financial risks
The investment's earning potential

Borrowing Money
Interest is paid to cover the cost
The loan term may be long, medium or short
Financial institutions
Mortgage Company
Credit cards
Family
Other outlets



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