Boone County CES

Title:

Financial Fitness for Adults (FCS)

MAP:

Financial Fitness

Agents Involved:

Diane Mason

MAJOR PROGRAM 1:

Securing Financial Stability (general)

Situation:

The consequences of the Great Recession and the extended period of slow economic growth which followed, encouraged Kentuckians to become more aware of their financial situation. Kentucky consistently lags behind other areas of the United States in key household economic indicators, including: personal income, population living below the poverty line, unemployment, and revolving debt. These indicators, especially unemployment numbers became more exaggerated during the period of the Great Recession. However, at present economist are cautiously optimistic regarding future economic forecasts. It is important to acknowledge the impact of current economic conditions on family financial management. The goal of the Securing Financial Stability Initiative is to help Kentuckians understand and respond to changing economic conditions, while promoting healthy financial behaviors across the lifespan.

Long-Term Outcomes:

Maximize or extend resources to maintain or increase financial.

Number of individuals reporting improved family financial stability and economic well-being.

Number of individuals who avoided breaches in personal or financial security.

Improved the quality of their life resulting in a stronger family.

Intermediate Outcomes:

Adopt one or more short, mid and long term financial planning strategies.

Practice one or more resource management behavior(s) resulting in increased savings or investments

Apply practical living skills to advance education or employability

Examine personal and financial stability on a regular basis (at least annually).

Initial Outcomes:

Adults will show increased knowledge and skills related to managing available financial and non-financial resources.

Participants will increase understanding of consumer rights and privacy protection measures.

Adults will understand the importance of being prepared for retirement.

Participants will identify short, medium and long term personal goals and objectives related to maintain and improve their financial stability.

Evaluation:

Initial Outcome: Awareness of money habits and need for managing money

Indicator: Post session evaluation

Method: Post session evaluation

Timeline: Immediately following session

Intermediate Outcome: Behavior change

Indicator: Individuals examined money habits and made one change for the better; individuals saving money; individuals creating spending and savings plans

Method: Follow up evaluation

Timeline: 3 to 6 months after the program

Long-term Outcome: Individuals become financially secure and self-sufficient

Indicator: Community and state statistics; fewer home foreclosures

Method: Monitor available statistics

Timeline: 4 years

Learning Opportunities:

Audience: Adults of general public

Project or Activity: Closing In on Retirement: Money Edition

Content or Curriculum: University of Kentucky and other Cooperative Extension materials

Inputs: guest speakers, other Extension agents from other counties

Date: November 2018

Audience:  Adults of the general public

Project or Activity:  What Every Family (and Spouse) Should Know

Content or Curriculum: Estate planning

Inputs:  worksheets,

Date:  April 2019

Audience:  Adults of the general public

Project or Activity:  Small Steps to Health and Wealth

Content or Curriculum: Small Steps to Health and Wealth

Inputs:  challenge, curriculum

Date:  May/June 2019

Success Stories