Securing Financial StabilityPlan of Work

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Shelby County CES

Title:
Securing Financial Stability
MAP:
Life Skill Development
Agents Involved:
Corinne Belton, Regina Browning, Sheila Fawbush
MAJOR PROGRAM 1:
Farm Management
MAJOR PROGRAM 2:
Securing Financial Stability (general)
MAJOR PROGRAM 3:
Small Steps to Health & Wealth
MAJOR PROGRAM 4:
Managing in Tough Times
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. Shelby Countians need to be able to understand and respond to changing economic conditions, while promoting healthy financial behaviors across the lifespan.


Consumer debt is rising and the typical US household carries $9200 in credit card debt. Lack of sound personal money management leads to an increase in bankruptcies and has a negative impact on the overall economy of the community. Many of Shelby County farmers are "land rich" but "cash poor" and need to make sound finanical plans for transitioning to the next generation. The County Extension Council and FCS Council identified financial strain, budgeting and long term financial planning as key issues in Shelby County.

Long-Term Outcomes:

Maximize or extend resources to maintain or increase financial stability.


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


Number of individuals who avoided breaches in personal or financial security.


Improved the quality of their life resulting in a stronger family.

Intermediate Outcomes:

Adopt one or more short, mid and long term financial planning strategies.


Practice one or more resource management behavior(s) 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 and young 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 Outcome: Increased KOSA related to money management strategies

Indicator: KOSA gained related to money management strategies

Method: questionnaires, self reporting

Timeline: End of sessions


Intermediate Outcome: Positive practice changes related to money management strategies

Indicator: Change in practice related to money management strategies

Method: Self reporting

Timeline: Follow-up surveys


Long-term Outcome: Shelby Countians maximize and/or extend resources to maintain or increase their financial stability.

Indicator: Participants maximize or extend resources to maintain or increase financial stability.

Method: County statistical data

Timeline: Annually for ten years

Learning Opportunities:

Audience: Farmers transitioning away from tobacco production

Project or Activity: CAIP Grant Program

Content or Curriculum: Cost-share program/projects and related publications/curriculum

Inputs: GOAP information, agents, UK publications

Date: Year round


Audience: New-to-farming producers

Project or Activity: For Rookie Series - Advanced

Content or Curriculum: Extension publications

Inputs: Extension publications, agents, specialists

Date: October 2019


Audience: Adults 55 and older

Project or Activity: Driver Safety Program

Content or Curriculum: AARP Driver Safety Programs

Inputs: Instructor, booklets, certificates

Date: August, November 2018 and April 2019


Audience: Adults

Project or Activity: Debt Management Series

Content or Curriculum: Dave Ramsey's material and UK Financial education publications

Inputs: Dave Ramsey's material and UK Financial education publications

Date: Mar - May 2019


Audience: Youth and Adults

Project or Activity: Community Events & Festivals

Content or Curriculum: Budgeting, savings, banking accounts, home buying,debt reduction, Managing in Tough Times Materials

Inputs: Budgeting, savings, banking accounts, home buying,debt reduction, Managing in Tough Times Materials

Date: Nov 2018; Mar 2019


Audience: Adults

Project or Activity: Estate Planning

Content or Curriculum: UK Publications and speakers

Inputs: Community Resources

Date: January 2019


Audience: 4-H School Clubs

Project or Activity: 4-H Money Program

Content or Curriculum: 4-H Reality Store materials, money management curriculum

Inputs: 4-H materials, handouts

Dates: January 2019


Audience: Farmers/Horticulturists

Project or Activity: Direct Marketing Workshop

Content or Curriculum: UK Publications

Inputs: UK Specialists

Date: February 20, 2019




Success Stories

4-Her Learn That Money Matters

Author: Regina Browning

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

Money is an everyday part of life, critical to achieving freedom, independence and success.  Unfortunately, a survey by the National Foundation for Credit Counseling found that 67% of adults don’t follow a budget and 76% of college students wish they had more help to prepare for the financial futures.  Shelby County 4-H presented a program called Money Matters to 617 4-H members to help them develop a solid foundation in money management.To tie into the goals of the Shelby County

Full Story
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