Extension
It Starts With Us
Money Management
Securing Financial Stability
Tashjian, Anderson
Securing Financial Stability (general)
Real Skills for Everyday Life
Family and Consumer Sciences 4-H Core Curriculum
4-H Youth Development Programming
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.
- 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.
-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.
-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.
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
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
