Financial Management and Economic Well-Being

Financial management refers to the efficient and effective management of money (funds) in such a manner as to accomplish yours and your family's objectives. The overall goal of this program is to provide Miami-Dade County residents with practical and objective information which can help families and individuals plan their financial future and reach their goals. Specific emphasis includes helping youth and adults to:

  • Develop spending and saving plans
  • Manage credit, reduce debt and pay bills on time
  • Learn to evaluate alternatives and avoid frauds in the marketplace
  • Learn effective consumer and shopping skills

Personal Financial Management Updates/News

Important Topics of Personal Financial Management

Understanding Your Finances  Interest & Interest Rates  Personal Debt
Income & Estate Taxes Retirement  

Understanding Your Finances 

Interest & Interest Rates

  • Time Value of Money
    The value of money received at different points in time, given a certain interest rate; present value versus future value.
  • Introduction to Interest
    The difference between simple interest and compound interest; why compound interest grows so quickly compared to simple interest.
  • Interest Part 2
    How to develop the formulas behind simple and compound interest, and an example of the striking difference between the two.
  • Introduction to Present Value
    How to decide whether it is better to have a sum of money today or in the future.
  • Present Value 2
    How to calculate the present value of different amounts of money received at different points in time.
  • Present Value 3
    What happens to the present value of money when you change the discount rate (or interest rate)?
  • Introduction to Compound Interest
    What compound interest is, how it works, and the math behind it.
  • The Rule of 72 for Compound Interest
    How and why the Rule of 72 is an easy way to estimate the impact of compound interest.
  • Introduction to Continuous Compound Interest
    How and why interest compounds (grows) over various time periods with a more detailed examination of the math behind the process

Personal Debt

  • Annual Percentage Rate (APR) and Effective APR
    How to calculate the effective APR from a stated APR, and the difference between the two.
  • Renting vs. Buying a Home
    How to make an apples-to-apples comparison of the costs of renting a home versus buying a home.
  • Mortgage Interest Rates
    Different types of mortgages explained (such as fixed and adjustable rate), along with the relationship of principal and interest in a standard mortgage payment.
  • Home Equity Loans
    How to use equity in a home to create cash via a home equity loan
  • The Discount Rate
    The basics of the Fed funds rate and the discount rate from the Federal Reserve Bank.
  • Personal Bankruptcy: Chapters 7 and 13
    How personal bankruptcy works, and the differences between Chapter 7 (straight bankruptcy) and Chapter 13 (reorganization) and their consequences.
  • Payday Loans
    How payday loans work and the very high price borrowers pay who use these loans.
  • Reverse Mortages 
    The basics of Reverse Mortages such as requirements, who should or should not get a reverse mortgage, risks associated with these mortgages, and more...

Income and Estate Tax


Contact the Agent

Zakkiyyah "Zee" Osuigwe, M.A.
Extension Agent II
Family and Cosumer Sciences (FCS)

Amelia Earhart Schoolhouse Office
401 E 65th Street
Hialeah, FL 33013 
Phone (305) 769-4050
Fax  (305) 769-4052

Monday - Friday
8:00AM - 5:00PM

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