Extension
It Starts With Us
Financial Education and Developing Human Capital
Enhance Life Skills and Build Consumer Awareness
Slone, Coleman, Allen
Family Development General
Family and Consumer Science
Promote positive personal finance behaviors prepares Kentuckians for any future economic shift. The United States has 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, increase buying power, avoid overextended credit, develop savings habits, and manage risks.
The Kentucky Extension Community Assessment Statewide Report 2019 indicates that money management for families and youth and employee “soft/essential skills” training continue to be important issues statewide. Research conducted by Harvard University, the Carnegie Foundation, and Stanford Research Center indicates 85% of job success comes from having well developed soft and people skills, and only 15% of job success comes from technical skills and knowledge (hard skills). Employers are often prepared to teach technical job skills; however, the intangible skills of being a team player, time management, and positive attitude are difficult to teach on-sight but critical to success.
- 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.
- Be responsible and contributing individuals and family members
- Practice one or more resource management behaviors resulting in increased savings or investments.
- Adopt financial planning strategies for short-, mid-, and long-term goals.
- Practice better employee “soft/essential skills” such as communication, networking, teamwork, time management, problem-solving, etc.
- Improve employability through practical living skills and continued education practices.
- Utilize and practice life skills in projects and life situations
- Practice responsible consumer and financial decision-making
- 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.
- Understand the decision-making process
- Gain skills in setting a goal and developing a plan of action
Outcome: Increased awareness of sound financial behaviors and skills related to managing financial resources
Indicator(s): Number of individuals who implemented at least one strategy to reduce expenses or manage money as well as confidence in handling money issues or specific financial matters. Number of individuals who made a sound financial decision (Regarding credit, budgeting, savings, and/or debt)
Method: Retroactive pre-post
Timeline: Following financial education workshops
Outcome: Increase knowledge and skills related to estate planning
Indicator: Number of individuals who took action toward implementing at least one estate planning strategy in regard to the subject matter presented
Method: Retroactive pre-post
Timeline: Following financial education workshops
Outcome: Improved workforce communication
Indicator: Number of individuals who reported the intent to utilize etiquette practices to improve verbal, written, and electronic communication practices (Communicating Effectively)
Indicator: Number of individuals reporting increased levels of understanding in the area: demonstrate strong verbal and nonverbal communications (Conveying Your Message)
Method: Pre/Post Evaluation
Timeline: Following Positive Employability
Outcome: Networking Skills
Indicator: Number of individuals reporting increased levels of confidence in the area: participate in a productive business conversation (Networking for Success)
Method: Pre/Post Evaluation
Timeline: Following Positive Employability
Audience: Adults, young adults, and teens
Project or Activity: Money Habitudes Workshop
Content or Curriculum: Money Habitudes
Inputs: FCS Agent, curriculum publications and resources, Money Habitudes cards
Date: Fall and Spring
Audience: Adults
Project or Activity: Estate Planning Workshop
Content or Curriculum: Estate Planning
Inputs: FCS Specialist (family finance and resource management), curriculum publications and resources, and local partners such as an attorney, CPA and/or financial planner
Date: Spring
Audience: Adults, young adults, and teens
Project or Activity: Credit Education
Content or Curriculum: Good Credit Game
Inputs: FCS Agent, curriculum publications and resources, Good Credit Game set
Date: Fall and Spring
Project or Activity: Financial Education
Content or Curriculum: Real Skills for Everyday Life
Inputs: Agents, curriculum publications and resources
Date: Fall, Spring and Smmmer
Audience: Youth 5-12
Project or Activity: Workforce Prep
Content or Curriculum: It's Your Reality, World of Work, National Dollars and Scents, Jump Start for Job Seekers
Inputs: Club Leaders, FRYSC, Agents and Staff
Date: Sept.-May
Audience: Recovery Centers, Penitentiary Facilities
Project or Activity: Financial Education
Content or Curriculum: Recovering Your Finances
Inputs: Coordination with community stakeholders
Date: Spring and Summer
