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Money 2000: An Overview

From January 1998 through December 2000, Hawaii Cooperative Extension Service will be implementing an exciting new program called Money 2000. The objective of Money 2000 is to increase the financial well-being of Hawaii residents through increased savings and reduced household debt. Below are answers to some commonly asked questions about Money 2000 and its sponsor, Hawaii Cooperative Extension Service.

Q: What is Hawaii Cooperative Extension Service?

A: Hawaii Cooperative Extension Service is a grassroots educational organization operating on the local level throughout the state. Administrative headquarters are located at University of Hawaii College of Tropical Agriculture and Human Resources (CTAHR) in Honolulu, Hawaii. Hawaii Cooperative Extension Service offices are located in four counties.

Hawaii Cooperative Extension Service transmits practical information from the applied research of the University of Hawaii CTAHR and other land-grant colleges to the people of Hawaii. The program is funded by the United States Department of Agriculture, the state of Hawaii, and private and public project specific grants.

Q: Why is Hawaii Cooperative Extension Service sponsoring Money 2000?

A: One of the program goals of Hawaii Cooperative Extension Service’s Human Resources Department is to assist families and individuals in the management of resources for improved family living. This includes increased family economic stability through the development of financial-management skills and enhanced savings. Thus, Money 2000 fits very closely with our organizational mission and is an extension of programs we’ve already been providing.

Q: What is Money 2000?

A: Money 2000 is a program designed to increase the financial well-being of Hawaii residents through increased savings and reduced household debt. Specifically, 2000 households in Hawaii will be encouraged to save, reduce debt, or a combination of both by at least $2,000 by the year 2000. If this objective is achieved, the dollar impact upon the Hawaii economy will be $4 million.

Q: What activities will take place?

A: Activities will vary from county to county and may include specially developed seminars and presentations for worksites and community organizations. Certificates will be awarded to participants as they achieve their financial goals. There will also be articles in newspapers statewide and a quarterly Money 2000 newsletter available to participants.

Q: How will progress be monitored?

A: Participants will complete a brief intake form with demographic information. They will also be asked to list their savings and debt at the point of entry into the program. Financial data is for participants’ own information to be used as a "benchmark" against which to measure progress. It will not be reported to program sponsors, in order to alleviate concerns about confidentiality.  Twice a year, participants will be contacted and asked to report the change in their amount of debt and savings. Data will be summarized by county and across the state to measure progress.

 Q: When can participants enroll?

A: Anytime between January 1998 and December 2000. Obviously, the earlier they enroll, the more time they will have to achieve their financial goals.

Q. For how long can participants enroll?

A: For as long as it takes, between 1998 and 2000, to achieve the objective of saving and/or reducing debt by at least $2000. Participants who wish to continue, in order to save or reduce debt by an even higher amount, are free to do so and will set their own financial goals.

Q: Is there a cost to participate in Money 2000?

A: There is a $10.00 annual registration fee to enroll as a Money 2000 participant which includes membership, start up financial management materials, and a subscription to the quarterly newsletter. Some (optional) seminars or publications may require a small registration fee.

Q: Where can I get further information about Money 2000?

A: For more information contact the Hawaii Cooperative Extension Service office closest to you. Addresses and phone numbers of participating offices are listed below.

 

Hawaii Cooperative Extension County Offices

Hawaii County

Maui County

P.O. Box 208

Kealakekua, HI  96750

(808) 322-4892

310 Kaahumanu Ave., Bldg. 214

Kahului, HI  96732

(808) 244-3242

Oahu County

Kauai County

University of Hawaii

1955 East-West Road

Honolulu, HI  96822

(808) 956-7138

State Office Building

3060 Eiwa Street, Room 210

Lihue, HI 96766-1881

(808) 274-3471

Or Email:  moneyed@hawaii.edu

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