Planning for the future, financiallyPlan of Work

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Webster County CES

Title:
Planning for the future, financially
MAP:
Financial Education
Agents Involved:
Alexander, Raymer, Shadrick
MAJOR PROGRAM 1:
Securing Financial Stability (general)
MAJOR PROGRAM 2:
Money Habitudes
MAJOR PROGRAM 3:
Good Credit Game
MAJOR PROGRAM 4:
Estate Planning
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. In Webster County 18.7% of families with children were below the poverty level in 2015 according to The American Community Survey. Webster County also has an unemployment rate of 5.6%. 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 families financials.


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:

Participants will show increased knowledge and skills related to managing available financial and non-financial resources. (Social marketing and Program participants)


Teens and young 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.

Evaluation:

Initial Outcome: Individuals report increased level of understanding in the area: confidence in handling money issues or specific financial matters.

Indicator: answer questions

Method: Evaluation, verbal response

Timeline: immediately after program


Intermediate Outcome: Individuals implemented at least one strategy to reduce expenses or manage money

Indicator: verbal

Method: Follow up evaluation

Timeline: 6 months after program


Long-term Outcome: participants establishing retirement and estate plans, savings account and changed spending habits

Indicator: number of families establishing savings and retirement and estate plans, verbal

Method: follow up evaluations, follow up program

Timeline: one year after program

Learning Opportunities:

Audience:7th graders, Teenagers and Adults, KTapp workers at apartment complex

Project or Activity: Capstone learning center program, Reality Store/It's Your Reality, Money Habitudes

Content or Curriculum: Money Habitudes cards and curriculum, Health and Wealth Online Challenge, Extension publications

Inputs: School system, Family Resource Coordinators, Specialist, local banks and community volunteers

Date: All school year


Audience: Webster County Families

Project or Activity: Estate Planning

Content or Curriculum: MITT, UK specialist

Inputs: UK specialist, local attorney

Date: Winter


Audience: Youth

Project or Activity: BE The “E” Club

Content or Curriculum: Be the “E” Member Curriculum

Inputs: Kentucky Cooperative Extension Service (CES) agents, program assistants, specialists and volunteers

Date: 2019 program year



Audience: Youth

Project or Activity: 4-H Dollars and Sense program

Content or Curriculum: Dollars and Sense curriculum

Inputs: Kentucky Cooperative Extension Service (CES) agents and facilities, public schools, family resource centers, volunteer leadership, community and business leadership

Date: 2019 program year




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