Money ManagementPlan of Work

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Graves County CES

Title:
Money Management
MAP:
Securing Financial Stability
Agents Involved:
Tashjian, Anderson
MAJOR PROGRAM 1:
Securing Financial Stability (general)
MAJOR PROGRAM 2:
Real Skills for Everyday Life
MAJOR PROGRAM 3:
Family and Consumer Sciences 4-H Core Curriculum
MAJOR PROGRAM 4:
4-H Youth Development Programming
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.

Kentucky consistently lags behind other areas of the United States in household income indicators, including personal income, population living below the poverty line, unemployment and revolving debt loads. As more single household parents emerge families continue to become increasingly dependent upon schools to teach concepts and skills once taught at home. Youth have limited knowledge in money management and in the current economy, financial stability is important. In order to attain financial stability for the future, youth must understand the distinction between wants and needs and practice basic skills such as budgeting and saving/investing for the future. Through consumer education, youth learn to increase buying power with wise consumer decision-making, to avoid the pitfalls of overextended credit, to develop saving habits, and manage financial risks.
Long-Term Outcomes:
- Maximize resources to increase financial stability
- Individuals report improved family financial stability and economic wellbeing.
- Youth become financially secure, responsible contributing members of society
- Youth demonstrate smart financial behaviors related to goal setting,
budgeting, analyzing credit, saving, investing and using financial services.
- Youth demonstrate smart financial behaviors related to consumer protection
including: laws and rights, fraud and services.

Intermediate Outcomes:
-Participants examine personal and financial stability on a regular basis (at
least annually)
-Participants adopt one or more short, mid, and long term financial planning
strategies.
- Youth Practice responsible consumer and financial decision making.
Initial Outcomes:
-Participants will identify short, medium, and long term personal goals and objectives related to maintaining and improving their financial stability.
•Teenagers and adults will show increased knowledge and skills related to managing available financial and non-financial resources.
- Youth gain knowledge in consumer education.
Evaluation:

Initial Outcome:Participants will identify short, medium, and long term personal goals and objectives related to maintaining and improving their financial stability.

Indicator:Number of individuals reporting improved knowledge (such as knowledge of ways to reduce expenses; cut spending; and save for emergencies).

Method: participant report

Timeline: July - June


Intermediate Outcome:Participants adopt one or more short, mid, and long term financial planning strategies

Indicator: Number of individuals who adopted short, mid and/or long term financial planning strategies.

Method: participant interview

Timeline: July - June


Long-term Outcome: Individuals report improved family financial stability and economic wellbeing.

Indicator: ?Number of individuals self-reporting improved financial stability and economic well-being

Method: Participant report

Timeline: July - June


Initial Outcome: Elementary age youth participate in consumer education

lessons.

Indicator: Number of youth participating in class and club consumer

lessons

Method: 4-H State Evaluation tools

Timeline: School year


Intermediate Outcome: Youth demonstrate understanding of the distinction

between wants and needs and basic budgeting skills.

Indicator: Increase in participant scores.

Method: Pre and post testing and 4-H state evaluation tools

Timeline: School year


Long-term Outcome: Youth demonstrate knowledge gained in consumer classes

through participation in Life Smarts, Dollars and Sense

and 4-H Build a Million

Indicator: Student results on Life Smart tests,

Dollars and Sense Project and Build a

Million

Method: Student report of knowledge gained

Timeline: School year


Learning Opportunities:

Audience: Limited resource audiences, young adults, low level reading audiences, families struggling through hard times, & others who may have a need to better develop life skills.

Project or Activity: Real Skills for Everyday Life Series

Content or Curriculum: Kentucky CES publications and resources

Inputs: Kentucky CES publications and resources

Date: July - June


Audience: General audiences and anyone who wishes to conserve and stretch their money during the holiday season.

Project or Activity: Stretching Your Holiday Dollar

Content or Curriculum: Kentucky CES Publications and resources

Inputs: Kentucky CES Publications and Resources

Date: Fall-Winter


Audience: Adults, Young Adults, Teens

Project or Activity: Money Habitudes

Content or Curriculum: Money Habitudes curriculum

Inputs: UK Specialist; Money Habitudes curriculum

Date: Fall - Summer 


Audience: Graves County Youth

Project or Activity: Dollars and Sense

Content or Curriculum: Dollars and Sense

Inputs: State 4-H Publications

Date: Summer


Audience: Graves County 6th-12 grade

Project or Activity: Lifesmarts

Content or Curriculum: Lifesmarts

Inputs: National Lifesmarts Curriculum

Date: Ongoing


Audience: Graves County Youth

Project or Activity: Consumer Education Classes

Content or Curriculum: National and State 4-H materials

Inputs: Curriculum

Date: School year


Audience: Graves County Youth 6th-12th grade

Project or Activity: Investment Special Project Club

Content or Curriculum: 4-H Build a Million

Inputs: Curriculum

Date: Ongoing


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