Even in the best of times, there is a heck of a lot that people don’t know about managing their money. And in the worst of times, bad decisions can matter even more.

With that in mind, County Executive Andy Spano has launched a comprehensive personal financial education effort, designed to help residents – young and old – get the information they need to make the best financial decisions possible.

The first forum - titled Financial Fitness - will take place May 12 and focuses on how to make better sense of your money. The event being held at the County Center is free and will help participants deal with everything from managing their personal finances and saving for college or retirement to credit, mortgages and identity theft.

“Even before the current recession, it was clear to me that so many people were just overwhelmed when it came to financial decisions,” said Spano. “These are complicated subjects and there is so much information out there – much of it biased and often just plain wrong. And now people are additionally very nervous that in these trying economic times they will make bad decisions that will affect them for years to come.”

He added, “We are seeing young adults at early ages having to make long-term financial decisions, without the requisite background to fully understand the multitude of terms and conditions.”

The financial education effort is a collaboration of the County Executive’s Office, the county’s departments of Consumer Protection, Communication, Information Technology and Senior Programs and Services, along with the offices for Women, Hispanic Affairs, African American Affairs, the Youth Bureau and nonprofit agency partners.

It builds on programs that the county government has previously run to educate college kids on the “perils of credit cards” and to help parents assess the various available loans to pay for college.

Elements of the campaign include the following:

• The county has launched a special section of its Web site  (www.westchestergov.com/managingmoney) devoted to financial education information and issues The section is filled with resources on many money-related topics. It runs the gamut from things as basic as how to budget and talk to your kids about money to how to pick a credit card to how to find reputable help if you are facing foreclosure. Other topics include planning for retirement, paying for college education, paying for a home and preventing foreclosure.
  
• The county will host a variety of seminars throughout the county on various money-related topics. A full list of what is now scheduled is available on the new Web section. The programs are open to the public and free.
  
• County experts will provide training to school teachers who are interested in developing and incorporating financial education as part of their existing school programs.
  
• The county is planning a “Financial Fitness” event at the County Center on May 12 to address a variety of important money matters. Details will be announced shortly.