Marshall County CES

Title:

Securing Financial Stability

MAP:

Economic Development

Agents Involved:

LDM, VW, NB

MAJOR PROGRAM 1:

Family and Consumer Science

MAJOR PROGRAM 2:

Financial Education - General

MAJOR PROGRAM 3:

21st Century Skills (Career & Workplace Development)

MAJOR PROGRAM 4:

Positive Employability

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, populations living below the poverty line, unemployment, and revolving debt. These indicators, especially unemployment numbers become 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, and including fiscal responsibility in estate planning.

Over the last 25 years, the number of stay-at-home parents has decreased. Parents have increasingly relied on schools to teach concepts and skills once taught within the family. With societal changes and cuts in school budgets, many schools have eliminated family and consumer science labs and no longer include or have decreased FCS instruction in the curriculum.

Life choices are often based more on personal desires rather than factual information. Those who seek information often turn to internet sources which may not be based in research. Decision-making may be based on product marketing claims, family tradition, myths, faulty information, and lack of knowledge. Today’s massive health and economic problems are due in part to the lack of instruction in the home by parents and in school through Family and Consumer Sciences classes.

4-H Youth Development / Community

As we progress in to the 21^st century a number of factors have gained prevalence within Family and Consumer Science driven by the increase of online and mobile shopping, the rise of video based at home tutorials, and the shifting family structures as evident by 17% of stay-at-home parents being fathers. The ever changing landscape of the family and the consumer highlights the need for a responsive and innovative FCS program while also providing the basic needs that all families have as they navigate lives many challenges. Kentucky 4-H Seeks to meet these needs through working with youth and families in a variety of situations to increase their consumer awareness, financial management, nutrition, culinary arts, textiles, housing, and human development.

Family & Consumer Sciences Education

Promoting positive personal finance behaviors prepares Kentuckians for any future economic shift. The United States has previously been in an extremely long period of economic expansion; however, expansions are cyclical, meaning growth is eventually followed by recession. Securing financial stability for Kentuckians will help families thrive no matter the economic outlook. Financial stability is achieved when families are able to secure and manage resources needed to supply food, clothing, and shelter. Through increased financial knowledge, families may be able to make wise financial decisions, increases buying power, avoid overextended credit, develop savings habits, and manage risks.

Long-Term Outcomes:

--maximize or extend resources to maintain or increase financial stability

--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

--make solid decisions when finalizing details for estate planning

--better family money management skills, such as reducing debt, increasing savings, and financial planning

--more effective employees and community leaders

--improved financial capability for Kentuckians, results in better quality of life and stronger families

Participants will:

• Be responsible and contributing individuals and family members

• Gain and maintain employment through life skill development

• Contribute to a safe and healthy home and community. 

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

--examine personal and financial stability on a regular basis (at least annually)

--engage in conversations with family members when considering estate planning

Participants will:

• Utilize and practice life skills in projects and life situations 
• Project a positive image and self-confidence 
• Practice responsible consumer and financial decision-making 
• Practice healthy eating choices 
• Make choices that lead to responsible and beneficial results 
• Adopt habits and skills that contribute toward employability in the future 

Initial Outcomes:

--teens 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

--participants will identify short, medium and long term personal goals and objectives related to maintaining and improving their financial stability

--participants will plan steps toward finalizing estate planning documents

--increased knowledge and skills related to managing financial resources, including savings, credit, and financial planning

--change knowledge, opinions, skills, and aspirations, to improve employability through work and practical living skills and continuing education practices

--increase financial literacy (knowledge and skills) related to savings and investments

Participants will:

• Understand the decision-making process 
• Gain skills in setting a goal and developing a plan of action 

Evaluation:

FCS Evaluation methods: Retroactive pre-post

Evaluation of 4-H Youth Development Programming

• Outcome to be Evaluated
  • Youth who engage in FCS project Work
• Indicator of Success for Outcome
  • Youth complete a FCS Project
• Method of Evaluation
  • 4-H Common Measures Universal Survey

Learning Opportunities:

Audience: Youth, adults, general public, community partners

Project or Activity: Where does your money go?, Money Habitudes

Content or Curriculum: Where does your Money go?, Real Skills for Everyday Life, Money Habitudes

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

Date: FALL 2021 - SPR 2022

Audience: Adults, general public, community partners

Project or Activity: Planning for Home Emergencies, Estate Planning

Content or Curriculum: Organizing your Records & Personal Information

Inputs: Kentucky Cooperative Extension Service (CES) agents, program assistants, specialists, and volunteers, Kentucky CES publications and resources, Extension Disaster Education Network (EDEN)

Date: FALL 2021 - SPR 2022

Audience: Youth, adults, general public

Project or Activity: Positive Employability

Content or Curriculum: Positive Employability curriculum

Inputs: Kentucky Cooperative Extension Service (CES) agents, program assistants, and specialists; Kentucky CES publications and resources, virtual programming as needed

Date: FALL 2021 - SPR 2022

Will provide programming in a hybrid model of in-person, virtual, "grab-n-go" kits, etc to reach multiple audiences.

Audience: Marshall County Youth

Project or Activity: Kentucky Saves Piggy Bank Contest

Content or Curriculum: Managing in Tough Times (MITT) curriculum; Kentucky Saves curriculum

Inputs: Marshall County Extension Agents for 4-H Youth Development & FCS, Extension Assistant, specialists and associates

Date: Fall 2021

Audience: Marshall County Middle & High School Students

Project or Activity: Career/Workforce Prep School Enrichment Programs

Content or Curriculum: Kentucky 4-H Workforce Prep Curriculum

Inputs: Marshall County Extension Agent for 4-H Youth Development and Middle School Life Skills Teacher(s)

Date: As Scheduled During 2021-22 School Year

Audience:  Marshall County 4-H After-School & CFS/NCCA Club Members / School Enrichment Program Participants

Project or Activity:  Financial Basics

Content or Curriculum:  4-H Build a Million, Building a Healthy, Wealthy Future, Consumer Savvy, It’s Your Reality , APES, Be the E

Inputs: Marshall County Extension Agent for 4-H Youth Development, Extension Assistant, Marshall County 4-H Teen volunteers, UK CES Publications

Date: 2021-22 Club Year

Audience: Marshall County 4-Hers (4th - 8th Grade)

Project or Activity: Day Camps / Holiday Workshop

Content or Curriculum: 4-H Home Environment Curriculum, 4-H Creative & Expressive Arts Curriculum

Inputs: Marshall County Extension Agent for 4-H Youth Development & Program Assistant, Marshall County 4-H Teen & Adult Volunteers, Homemakers, & Community Representatives.

Date: Summer 2022 for Day Camps / November-December 2021 for Holiday Workshop

Success Stories