Extension
It Starts With Us
Securing Financial Stability, Estate Planning, Real Skills for Everyday Life
Securing Financial Stability
Linda Brown-Price, Joan Bowling, Kathy Byrnes
Real Skills for Everyday Life
Estate Planning
Securing Financial Stability (general)
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 (42,958 KY 53,657 US Census 2014), population living below the poverty line, unemployment, (5.8% compared to National rate of 4.9% Department of Numbers) and revolving debt. These indicators, especially unemployment numbers, became more exaggerated during the period of the Great Recession. However, at present economists 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. Consumers need to be aware of safety tips and strategies as they maneuver the internet and utilize technology in their everyday lives. The 2015 Kenton County Survey from current and new users of extension, and the “Farm Tour,” indicated a need for classes on sewing, budgeting, credit, job skills, estate planning Medicare, and Social Security.
• Maximize or extend resources to maintain or increase financial resources.
• Number of individuals reporting improved family financial stability and
economic well-being.
• Increase the number of clientele reporting improved privacy security measures
and reduction in reports of financial fraudulent matters across the state.
• Individuals will be able to retain gainful employment by utilizing the
necessary skills and technology to rebuild financial security.
• Number of people who adopt short, mid, and long-term financial planning
strategies
• Practice one or more resource management behaviors 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).
• Teenagers and adults will show increased knowledge and skills related to
managing available financial and non-financial resources. (Social marketing
and Program Participants)
• Participants will increase understanding of consumer rights and privacy
protection measures.
• Teens, young and older adults will simulate life situations to recognize
importance of education and employability skills.
• Participants will identify short, medium, and long-term personal goals and
objectives related to maintaining and improving their financial stability.
Initial Outcomes: Increase knowledge and skills to improve employability
Indicator: Increase number of responses to job inquiries, long-term employability
Method: Surveys, phone calls, success stories
Timeline: 3 to 6 months after class then a year follow-up
Long-term Outcome: Increased financial planning and investments
Indicator: Retirement and Investment planning increased
Method: Surveys, informal feedback, phone calls, success stories
Timeline: 6-9 months after class
Outcome: Change in knowledge, opinions, skills and attitudes to improve
practical living skills.
Indicator: Increased knowledge of technology skills
Method: Informal observation, feedback, pre and post tests
Timeline: 3-6 months after class
Outcome: Increased knowledge and skills related to managing available resources.
Indicator: Number of individuals reporting improved knowledge (such as knowledge of ways to reduce expenses; cut spending; and save for emergencies).
Method: Pre and Post Test, informal feedback testimonials, success stories
Timeline: 6-9 months after class
Outcome: New sewing skills and completion of sewing project
Indicator: Class project will be of an acceptable standard
Method: Agent and Master Clothing Volunteer approved, follow-up survey
Timeline: Fall 2018 and Spring 2019
Audience: College students, general public, young adults, retirees
Project or Activity: 3-5 Week Series of classes
Content or Curriculum: Money Talks: A Financial Guide for Women
Inputs: Kentucky Cooperative Extension Service Agents and Specialists, Program Assistants, Kentucky and CES publications and resources, and Community Partners
Date: Fall 2018
Audience: Young Adult Job Seekers
Project or Activity: Resume and Interview Skills Classes
Content or Curriculum: KY CES Resources
Inputs: KY CES State Specialists, Program Assistants, FCS Agents, Community Partners
Date: September-October, 2018 - March-April, 2019
Audience: Homemakers, young couples, general public, low income families
Project or Activity: Identity Theft
Content or Curriculum: KY CES Curriculum
Inputs: KY CES Agents and Specialists, Program Assistants, Community Partners
Date: March 2019
Audience: Limited-resource clientele, general public
Project or Activity: Real Skills for Everyday Life/Credit Card Checkup
Content or Curriculum: KY CES Curriculum
Inputs; KY CES Specialists, FCS Agents, Program Assistants, and Community Partners
Date: October-November 2018; Feb, March 2019
Audience: Older Adults/Caregivers
Project or Activity: Eldercare
Content or Curriculum: "KY CES"
Inputs: KY CES Specialists, FCS Agent
Date: October 2018
Audience: Individuals participating in past financial classes
Project or Activity: Financial Newsletter
Content or Curriculum: ”KY CES”
Inputs: KY CES Specialists, FCS Agents,
Date: Bi-monthly
Audience: Adults interested in sewing
Project or Activity: Beginning Sewing for Adults series
Content or Curriculum: FCS Agent and Master Clothing Volunteer designed
Inputs: Master Clothing Volunteer Curriculum, FCS designed
Date: Fall 2018, Spring 2019
Audience: Sewing Expo
Project or Activity: Three-day seminar from District 3 Agents
Content or Curriculum: UK Clothing Program publications
Inputs: Master Clothing Volunteers, FCS agent designed
Date: April 2019
Audience: Adult Sewing Project Group
Project or Activity: FCS Agent Designed
Content or Curriculum: Master Clothing Volunteer curriculum
Inputs: UK Clothing publications
Date: Monthly, beginning September 2018
Audience: Young Adults
Project or Activity: Financial Literacy for Young Adults
Content or Curriculum: Extension sponsored resources
Inputs: Ky. CES State Specialists, FCS Agents
Date: November 2018 and March 2019
Audience: Extnsion Homemakers
Project or Activity: Area Homemaker Seminar, "Knowing Your Treasures"
Content or Curriculum: UK Factsheets
Inputs: KY FCS agents, local experts
Date: September 11, 2018
Audience: Extension Homemakers
Project or Activity: Area Homemaker Seminar, "Healthy Horticulture" - to save money
Content or Curriculum: UK Factsheets
Inputs: Kenton, Boone, Campbell Horticuture and FCS agents
Date: January 12, 2019
Audience: Senior citizens
Project or Activity: Protecting your Finances as you Age
Content or Curriculum: UK fact Sheets
Inputs: KY Attorney general's office, local experts
Date: November 2018
Audience: Older adults -general public
Project or Activity: Questions on Medicare
Content or Curriculum: Extension sponsored Resources
Inputs: KY CES State Specialist, FCS Agent
Date: November-December, 2018
Author: Linda Brown-Price
Major Program: Securing Financial Stability (general)
As the baby-boomers begin preparing to retire, many are excited; they have worked four or five decades, eager for retirement. They can see the end, and so they think about what they want to do with the time that they have remaining. In Kentucky, years of under funding by politicians who resisted tax increases and risky investments by Kentucky Retirement Systems created a pension crisis that threatens the retirement security of Kentucky teachers, polic
Author: Linda Brown-Price
Major Program: Securing Financial Stability (general)
The number one financial worry for Americans, according to a recent Gallup poll, is having enough money for retirement. Half of U.S. households with someone age 55 or over have no retirement savings at all according to the Government Accountability Office. Kenton County, Kentucky has a population of 165,399 with 14% of the population over 65 according to the US Census. As the average life expectancy continues to increase and future income from Social Security stagnates or even dec
Author: Kathy Byrnes
Major Program: Securing Financial Stability (general)
In the national study, “Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society,” Americans age 65 and older are filing for bankruptcy in record numbers. These older adults are often trying to assist their children and grandchildren with higher education and other costs. In addition, with many more seniors raising grandchildren, finances can take a beating. This trend is expected to continue, resulting in senior citizens facing financial crisis
Author: Joan Bowling
Major Program: Community Engagement
The Kenton County Family and Consumer Sciences Agents formed a partnership with the Life Learning Center in Covington to teach Nutrition information and hands on food preparation skills to “at risk” individuals that are facing a multitude of challenges in 2015. Participants in the program face one or more of the following; difficult family situations, criminal backgrounds, limited education, unemployment/underemployment, as well as other serious threats to homelessness.
Author: Joan Bowling
Major Program: Securing Financial Stability (general)
According to the “Kentucky by the Numbers “website, the baby boomer population in the state of Kentucky will reach 800,000 by 2020. As the “boomers” head into retirement the need for resources and education regarding this life stage has increased. In response to address some of the concerns being raised by clientele, Boone and Kenton County Family and Consumer Sciences Agents collaborated to teach a 4 hour retirement workshop in November held at the Boone County Enr
Author: Linda Brown-Price
Major Program: Estate Planning
In Kenton County with a population of 166,051 with 14.1% over 65 years of age, many are beginning the planning process needed to distribute their assets. Managing financial risks is an important part of financial stability. Regardless of how many assets are owned, estate planning is needed to protect, and help ensure, personal and financial goals are realized after death. Many individuals fail to plan for the transfer of their possessions and property. Leaving others to settle the estate, pay ta
