Hardin County CES

Title:

Securing Financial Literacy

MAP:

Acquiring Basic Life Skills

Agents Involved:

Parrett

MAJOR PROGRAM 1:

Managing in Tough Times

MAJOR PROGRAM 2:

Real Skills for Everyday Life

MAJOR PROGRAM 3:

Money Habitudes

MAJOR PROGRAM 4:

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:

For those who attend programs or workshops, or receive financial education through Cooperative Extension to maximize or extend resources to maintain or increase finances.

For the number of individuals reporting improved family financial stability and economic well-being to increase.

For individuals to avoided breaches in personal or financial security.

For individuals to have improved the quality of their life resulting in a stronger family.

Intermediate Outcomes:

For participants who attend programs or workshops, and those receiving financial education to:

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:

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 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: Teenagers and adults will show increased knowledge and skills related to managing available financial and non-financial resources.
Indicator: Initial evaluation results after financial education is given, whether through a program or workshop or through newsletters, social media, or more.
Method: Evaluations provided with packaged curriculum programs from FCS specialists.
Timeline: Immediately after education is given.

Intermediate Outcome: Adopt one or more short, mid and long term financial planning strategies.
Indicator: That one has implemented a budget, began using cash envelope system, opened a checking/savings account, etc...
Method: Follow up evaluation
Timeline: 3 - 6 months after financial education

Long-term Outcome: For the number of individuals reporting improved family financial stability and economic well-being to increase.
Indicator: Families that report following a budget, living within their means, saving more money, and feeling more financially secure because of the financial education received through Cooperative Extension.
Method: Follow Up evaluation
Timeline: 1 year after financial education

Learning Opportunities:

Audience: Single mothers
Project or Activity: HEELS Together Program
Content or Curriculum: Real Skills for Everyday Life
Inputs: Kentucky Cooperative Extension Service (CES) agents, program assistants, specialists, and volunteers, Kentucky CES publications and resources, Kentucky Career Center, Helping Hand of Hope, Community Action, local community college
Date: July - September

Audience: General Population/High School Students
Project or Activity: Money Habitudes programs/sessions in classroom
Content or Curriculum: Money Habitudes
Inputs: CES agents, CES publications and resources, Money Habitudes cards, high school Family and Consumer Science teachers
Date: August - May

Audience: Youth
Project or Activity: Piggy Bank Design Contest + education at Design Day about earning, spending and saving
Content or Curriculum: Building a Healthy/Wealthy Future, America Saves information, Captain Cash curriculum
Inputs: CES agents, local banks, United Way, CES publications and resources, America Saves resources, captain cash curriculum
Date: November