Securing Financial Stability, Estate Planning, Real Skills for Everyday LifePlan of Work

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Kenton County CES

Title:
Securing Financial Stability, Estate Planning, Real Skills for Everyday Life
MAP:
Securing Financial Stability
Agents Involved:
Linda Brown-Price, Joan Bowling, Kathy Byrnes
MAJOR PROGRAM 1:
Real Skills for Everyday Life
MAJOR PROGRAM 2:
Estate Planning
MAJOR PROGRAM 3:
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 (42,958 KY 53,657 US Census 2014), population living below the poverty line, unemployment, (5.8% compared to National rate of 4.9% Department of Numbers) and revolving debt. These indicators, especially unemployment numbers, became 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. Consumers need to be aware of safety tips and strategies as they maneuver the internet and utilize technology in their everyday lives. The 2015 Kenton County Survey from current and new users of extension, and the “Farm Tour,” indicated a need for classes on sewing, budgeting, credit, job skills, estate planning Medicare, and Social Security.
Long-Term Outcomes:
• Maximize or extend resources to maintain or increase financial resources.

• Number of individuals reporting improved family financial stability and
economic well-being.

• Increase the number of clientele reporting improved privacy security measures
and reduction in reports of financial fraudulent matters across the state.

• Individuals will be able to retain gainful employment by utilizing the
necessary skills and technology to rebuild financial security.
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 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, young and older 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 Outcomes: Increase knowledge and skills to improve employability
Indicator: Increase number of responses to job inquiries, long-term employability
Method: Surveys, phone calls, success stories
Timeline: 3 to 6 months after class then a year follow-up

Long-term Outcome: Increased financial planning and investments
Indicator: Retirement and Investment planning increased
Method: Surveys, informal feedback, phone calls, success stories
Timeline: 6-9 months after class

Outcome: Change in knowledge, opinions, skills and attitudes to improve
practical living skills.
Indicator: Increased knowledge of technology skills
Method: Informal observation, feedback, pre and post tests
Timeline: 3-6 months after class

Outcome: Increased knowledge and skills related to managing available resources.
Indicator: Number of individuals reporting improved knowledge (such as knowledge of ways to reduce expenses; cut spending; and save for emergencies).
Method: Pre and Post Test, informal feedback testimonials, success stories
Timeline: 6-9 months after class

Outcome: New sewing skills and completion of sewing project
Indicator: Class project will be of an acceptable standard
Method: Agent and Master Clothing Volunteer approved, follow-up survey
Timeline: Fall and Spring




Learning Opportunities:

Audience: College students, general public, young adults, retirees

Project or Activity: 3-5 Week Series of classes

Content or Curriculum: Money Talks: A Financial Guide for Women

Inputs: Kentucky Cooperative Extension Service Agents and Specialists, Program Assistants, Kentucky and CES publications and resources, and Community Partners

Date: Fall 2017


Audience: Young Adult Job Seekers

Project or Activity: Resume and Interview Skills Classes

Content or Curriculum: KY CES Resources

Inputs: KY CES State Specialists, Program Assistants, FCS Agents, Community Partners

Date: February 2018


Audience: Homemakers, young couples, general public, low income families

Project or Activity: Identity Theft

Content or Curriculum: KY CES Curriculum

Inputs: KY CES Agents and Specialists, Program Assistants, Community Partners

Date: March 2018


Audience: Homemakers, job seekers, general public

Project or Activity: Basic Computer Classes

Inputs: FCS Agents and Program Assistants

Date: September, October 2017


Audience: Limited-resource clientele, general public

Project or Activity: Real Skills for Everyday Life

Content or Curriculum: KY CES Curriculum

Inputs; KY CES Specialists, FCS Agents, Program Assistants, and Community Partners

Date: October-November 2017; Feb, March 2018


Audience: Individuals participating in past financial classes

Project or Activity: Financial Newsletter

Content or Curriculum: ”KY CES”

Inputs: KY CES Specialists, FCS Agents,

Date: Bi-monthly


Audience: Adults interested in sewing

Project or Activity: Beginning Sewing for Adults series

Content or Curriculum: FCS Agent and Master Clothing Volunteer designed

Inputs: Master Clothing Volunteer Curriculum, FCS designed

Date: February-April 2018


Audience: Sewing Expo

Project or Activity: Three-day seminar from District 3 Agents

Content or Curriculum: UK Clothing Program publications

Inputs: Master Clothing Volunteers, FCS agent designed

Date: April 2018


Audience: Adult Sewing Project Group

Project or Activity: FCS Agent Designed

Content or Curriculum: Master Clothing Volunteer curriculum

Inputs: UK Clothing publications

Date: Monthly, beginning September 2017


Audience: Young Adults

Project or Activity: Financial Literacy for Young Adults

Content or Curriculum: Extension sponsored resources

Inputs: Ky. CES State Specialists, FCS Agents

Date: November 2017 and March 2018







Success Stories

Managing Holiday Expenses

Author: Joan Bowling

Major Program: Securing Financial Stability (general)

Teenagers in limited resource families are faced with nonacademic barriers to learning that may carry over into adulthood impacting future success unless programs are in place to assist in the transition.  In an effort to address some of these barriers, the Family and Consumer Sciences agent and the Youth Service Center coordinator at the local high school have partnered to offer monthly programs throughout the school year for a group of 12 referred students.   The programs taught incl

Full Story

Emergency Prepardeness In Record Keeping

Author: Linda Brown-Price

Major Program: Disaster Preparedness

It’s always a good idea to keep important papers in a safe place such as a safe-deposit box or in a fireproof, waterproof, and burglar-proof home safe. This is even more important during emergencies when you need information in a hurry. Sometimes, though, such papers are lost, stolen, or destroyed. . A class on Emergency Preparedness in Recordkeeping was taught to older residents in Kenton County by the Kentucky State Area Specialist for Family and Consumer Sciences. Topics covered include

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Financial Struggles Facing An Aging Population

Author: Linda Brown-Price

Major Program: Securing Financial Stability (general)

As the baby boomer generation reaches retirement age and begins preparing to retire early or face retirement, most face critical financial struggles and need to make life-altering decisions regarding their financial future. Questions arise concerning estate planning, when to begin social security benefits, and investment issues. The Kenton County Extension Office, Kentucky State Area Specialist, collaborated with subject matter experts to present up-to-date information on these topics.Sixty-thre

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4-H Money Sen$e

Author: Mary S Averbeck

Major Program: Family and Consumer Sciences 4-H Core Curriculum

Most young people have little confidence in their money management skills according to an Equifax study. In fact, 74% of 12-22 year-old youth want their schools to teach money management. As few as 10 hours of instruction can be enough to improve youths’ spending and saving habits according to the National Endowment for Financial Education.  Recent years of tough economic times have increased awareness of the need for financial literacy. Extension advisory groups have identified finan

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Follow-up To "Brain Matters" series on Mental Stimulation

Author: Linda Brown-Price

Major Program: Embracing Life as We Age (general)

A three part series “Brain Matters” was held in Kenton County in the spring of 2017 that addressed the effects of brain stimulation on the health of the brain. Mental exercise was stressed to stimulate and enhance brain connection, increase blood flow, and provide new challenges that exercise cognitive functions. A follow-up survey was mailed to participants in the winter of 2018. 94% of the respondents indicated they had increased their mental exercise. Participants indicated increa

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