Aggie Saves Encourages Financial Soundness
USU has teamed up with the Association for Financial Counseling and Planning Education to participate in a campus-based financial program, Aggie Saves, in order to help the university community build assets, reduce debt and secure a healthy financial future.
America Saves, the Consumer Federation of America’s national social marketing campaign, works with communities around the country to promote saving and reduce debt, said Nancy Register, associate director of the CFA.
America Saves selected USU as one of its campuses to implement its financial action plan and plans to develop USU as a model for other campus-based campaigns, she said.
“The Aggie Saves program encourages USU faculty, staff and students to start saving money regularly in order to build a sound financial future,” Register said.
Aggie Saves is a part of Utah Saves’ broader-based community effort, which involves more than 70 nonprofit and financial institutions, Register said.
“USU is happy to be a part of this effort which encourages individuals to develop sound financial habits,” said USU President Stan Albrecht. “The importance of these efforts is magnified by the current state of economic uncertainty in our nation.”
Todd Vincent, junior in the Huntsman School of Business, is implementing the idea behind Aggie Saves in his management human resources class by providing a financial management seminar to educate Logan citizens and students to help prepare their financial future.
“In Dr. Herman’s class, we are learning a variety of skills that we are applying to help the community,” Vincent said. “He has given us the opportunity to work as a group to impact the community by giving service and raising funds to help local businesses get started.”
On April 2, Vincent’s group will have two speakers present tips and advice on achieving financial goals and accelerating savings plans toward starting a small business in Room 215 of the Business building at 7 p.m., Vincent said.
He said Martha Wunderli, state director of Individual Development Account Network, will lecture on creating actual accounts in association with the Utah Saves program.
Earl Hurst, president of Humana Utah, will also speak about entrepreneurship and putting money toward starting a small business, education or down payment on a house, which is what Utah Saves and Aggie Saves is all about, Vincent said.
Vincent is also looking for sponsors for the seminar and will openly welcome any monetary donations either on or before April 2, he said. Those funds will help students perform service projects for the Huntsman School of Business sponsored micro-loan accounts in small villages in Peru, Vincent said.
The setup and maintenance of these accounts will be administered by students and give meaningful service as students use their business skills to educate the people benefiting from these loans, Vincent said.
“We believe this project will make a lasting difference in the lives of those who need it the most. It provides students with incredible hands-on experience,” Vincent said.
Vincent said his group is committed to raise $1,000 by April 2, and last summer, 42 Huntsman School of Business students went to South America and processed more than $22,000 in loan requests.
“This is all done and accomplished through USU’s Aggie Saves program. Our goal is the same. We want to build a financial future and help individuals, families and students build their savings program with small amounts of money,” Vincent said.
Alena Johnson, instructor of the family finance class, said Aggie Saves is a great opportunity for everyone to set financial goals and start important finace habits that will benefit them for a lifetime.
-m.l.r@aggiemail.usu.edu