Extension
It Starts With Us
Financial Literacy
Financial Literacy
Hardy, FCS Agent, Heisdorffer, Boone, Potts
Farm Management
Ag Marketing
Managing in Tough Times
Consumer and agricultural clientele are each at a cross roads regarding estate planning and financial management. For working citizens, unemployment has decreased, interest rates remain low, home ownership is on the upswing and market based retirement savings are recovering from the negative growth period. At the same time, agricultural clientele face an uphill battle maintaining net revenues in their farming businesses due to the decline in commodity prices. This requires an increased percentage of family living expense being provided by an off farm employed family members. Young adults are constantly bombarded with opportunities to purchase consumer goods leaving them with an apathy about saving money without the realization of the promise that financial solvency serves verses unnecessary spending. Consumer clientele require knowledge opportunities for budgeting and retirement planning while farming clientele need farm risk management information. Young adults need money management life skill training.
Financial well being of Daviess County farm businesses, consumers, youth and family clientele will improve from money management practices implemented through knowledge gained at Daviess County Extension learning and demonstration opportunities. Membership of Ohio Valley Farm Analysis will continue to expand requiring a third area specialist to accommodate clientele needs. Young adult equity will increase as a result of adopted saving methods. Individuals and families will implement estate plans and wills in their long term plans.
Clientele will implement strategies which will serve their financial needs. The result will be greater personal equity development while reducing intermediate and long term liabilities. Youth will adopt measure saving practices. Families will meet with financial planners and facilitators to develop estate plans.
Consumer, youth and family clientele will gain knowledge and awareness of improved money management and savings plans. Individuals will gain knowledge by information provided in formal educational programs and newsletter correspondence regarding financial management. Farmer clientele will learn of better management practices including advanced grain marketing strategies and financial risk management. Producers will gain awareness of Ohio Valley Farm Analysis Association.
Long-term Outcome:
Indicator: Consumer clientele will benefit from retirement and estate plan strategies which protect assets while providing a comfortable retirement, consumer clientele will adopt financial management strategies which protect assets and grow personal savings. Farming clientele will adopt sound financial management strategies which grow their businesses, clientele will learn about financial risk management and estate planning definitions and terminology necessary to begin estate planning. Young adults will gain knowledge of interest calculations and how long term saving translates to increased wealth and prosperity later in life.
Method: Observation, Survey Evaluation
Timeline: Summer 2018, 2019, 2020
Audience: Farmers
Project or Activity: Increased KFBM awareness
Content or Curriculum: Ag Economics
Inputs: ANR, extension specialists, KFBM specialists
Date: Winter 2019
Audience: Agricultural Lenders
Project or Activity: Agricultural Lenders Conference
Content or Curriculum: Agricultural Economics
Inputs: ANR, extension specialists, KFBM Specialists
Date: November 2018
Audience: Adult Males in Addiction Recovery Setting
Project or Activity: Financial Management Basics
Content or Curriculum: Managing in Tough Times; Where Does Your Money Go; Money Habitudes; Moneywise; Good credit game
Inputs: FCS Extension Agent; Community Banking/Financial Industry Volunteers
Date: Fall 2018; Spring 2019 (6 week program)
