Through its teaching, research and service missions, PFP spurs economic development; as a part of the economic development mission of the University of Missouri.
The economy relies on informed households to operate at its full potential. The financial security of households is a key to personal freedom and critical to economic development. PFP contributes to economic development in our state through:
- One of the few departments at MIZZOU which costs the state less than the revenue generated by the department for the campus. It is estimated that PFP generates $2 for each $1 received.
- Graduating financial services professionals who can help households maximize the satisfaction they receive from their financial resources. Households who make wise use of their resources force the economy to make wise use of resources.
- Keeping money in local communities by saving taxpayers over a million dollars in fees. For the 2009 tax year, for example, MoTax’s service to 3,464 Missouri taxpayers returned over $4 million in refunds to the people of the state of Missouri, while saving them $729,000 in tax preparation fees.
- Teaching households how to manage their resources, increasing their chance to achieve financial security and success.
- Providing data and perspectives to inform policy makers in their decisions.
In a nutshell, the country is no more than the sum of our households. The more the households are financially secure and knowledgeable, the better decisions they will make. Better decisions strengthen our society. We believe this, as we attempt to live it.