Family Financial choicesPlan of Work

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Morgan County CES

Title:
Family Financial choices
MAP:
Family Financial Wellness
Agents Involved:
Nellie Buchanan
MAJOR PROGRAM 1:
Money Habitudes
MAJOR PROGRAM 2:
Real Skills for Everyday Life
MAJOR PROGRAM 3:
Managing in Tough Times
MAJOR PROGRAM 4:
Small Steps to Health & Wealth
Situation:
In Morgan County, the median household income in 2013 was $31,579 compared to $43,307 for the state. The American Community Survey estimates 29% of families with related children were below poverty, 23% of people age 65 and over were below poverty and 73% of students were eligible for free or reduced lunches. KY consistently lags behind other area of the USA in household income indicators, including personal income, population living below the poverty line, unemployment and revolving debt loads
Long-Term Outcomes:
Number of clientele reporting improved family financial stability and economic well-being.
Improving the life for Morgan Countians resulting in stronger families.
Intermediate Outcomes:
Number of people who
- adopt short, mid and long term financial planning strategies.
- practice one or more resource management behaviors resulting in increased savings and investments.
- reduce debt load
- create financial plans, have wills prepared, power of attorneys in place and plan for end of life expenses
Initial Outcomes:
Increase financial literacy related to savings and investments. Increase knowledge, opinions, skills and attitudes for estate planning involving basics of estate planning, selecting a professional team, wills, powers of attorney, trusts, transitioning family property, tax saving measures, insurance, funeral expenses and end of life care financial decisions.
Evaluation:
Initial Outcome: Increase financial literacy related to savings and investments and estate planning
Indicator: Number of participants reported increased knowledge.
Method: Evalution following programs
Timeline: Spring 2017

Intermediate Outcome: Number of people adopting short, mid and long term financial planning strategies, practice one or more resource management behaviors resulting in increased savings and investments and reduction of debt load. Number creating financial plans, wills prepared and power of attorneys.
Indicator: number reporting
Method: Evaluation and one on one reporting
Timeline: Summer 2017

Long-term Outcome: number of clientele reporting improved family financial stability and economic well being. Number improving quality of life for Morgan County families.
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Learning Opportunities:

Audience: Young adults, limited resource families

Project or Activity: Managing in tough times, money

Content or Curriculum: money habitudes, online challenge, estate planning worksops

Inputs: UK CES specialists, CEA FCS agent, Managing in Tough Times, Local, state and federal resources, local financial experts i.e. bankers, lawyers

Date: Fall 2017


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