Osceola Saves Financial Fair

The national savings rate is once again on a decline at 3.5%. Additionally, a study commissioned by Consumer Credit Counseling Service revealed that overall consumer debt has increased by 38% for households at all income levels over the last year. Specifically, Osceola County had the highest increase in foreclosure rates and credit delinquencies, and ranks 3rd in overall bankruptcy filings in the state of Florida.

To combat these startling statistics, the University of Florida/IFAS Osceola County Extension Services, Community Vision and Osceola County Council on Aging have partnered to form Osceola Saves, an offshoot of the America Saves campaign. The primary focus of Osceola Saves is to promote savings and motivate individuals, particularly those in low-moderate income households, to take financial action. We want people to saving money by Starting Small, but Thinking Big.

"The Osceola Saves initiative has two major goals," said Laura Royer, Extension Faculty for the University of Florida Osceola County Extension Services. First, it encourages individuals to set a financial goal -- to buy a home or save for an emergency for example, and save the amount needed each month to reach that goal. Second, it aims to provide accessibility to savings accounts, most of which charge fees for accounts with low balances. "These among other things become barriers which discourages people who don't have a lot of money from starting to save," Royer said.

The Osceola Saves coalition will be hosting the 4th Annual Osceola Saves Financial Fair on February 21, from 4 p.m. - 8 p.m., UF/IFAS Osceola County Extension Services, 1921 Kissimmee Valley Lane, 34744 (inside Osceola Heritage Park off US 192). The event is free to the community and will include:

• 1st 100 receive financial tool kit ($15 value)
• 10 chances to win gift cards valued at $50 and other door prizes
• Over 30 vendors including onsite financial and foreclosure prevention counseling
• Tips for finding money to save and getting out of debt

For more information, contact Laura Royer at (321) 697-3000 or email lroy@osceola.org.