BROOKINGS — Hoarding might be holding you back financially.

Lorna Saboe-Wounded Head, South Dakota State University Extension family resource management field specialist, said financial literacy affects all aspects of people’s lives. Hoarding, a diagnosable mental health disorder, can affect people in many ways financially.

Maybe people are afraid of not having enough essentials, like food or toiletry items, so they stock up without using the products. Or perhaps the problem is compulsive shopping, combined with an inability to sell or get rid of items.

Saboe-Wounded Head said as things accumulate, people may be less able to maintain their home and unattended home repairs can compound quickly. Such hoarding can lead to a downward spiral, impacting a person’s short- and long-term financial stability.

SDSU Extension will host a webinar on hoarding and its impact on financial stability as the kick-off to a free virtual series promoting financial literacy and well-being.

The Financial Fireside Chats series features six webinars, once per week from 6:30 to 7:30 p.m. CDT on Tuesdays from April 23 to May 28.

In addition to hoarding, the Financial Fireside Chat webinar series will cover essential topics like debt management and using PowerPay to pay off debts, retirement planning, protection from frauds and scams, and student loan repayment. One week will discuss the health insurance marketplace for people who do not have employer-sponsored health insurance.

Each webinar will feature expert speakers sharing valuable insights, practical tips, and resources to help participants effectively manage their finances. Additionally, participants will have the opportunity to engage in interactive discussions and ask questions.

“Financial knowledge is a powerful tool that can positively impact one’s financial well-being,” said Saboe-Wounded Head. “We believe that by providing accessible resources and education through the Financial Fireside Chat series, we can empower individuals to take control of their finances and build a more secure future.”

To register and for full program details, visit the SDSU Extension Events page and search “fireside.”

For information, contact Saboe-Wounded Head at 605-782-3290 or email Lorna.WoundedHead@sdstate.edu.