Barren County CES

Title:

Promote Healthy Financial Behaviors

MAP:

SECURING FINANCIAL STABILITY

Agents Involved:

Tarry, Schalk

MAJOR PROGRAM 1:

Money Habitudes

MAJOR PROGRAM 2:

Small Steps to Health & Wealth

MAJOR PROGRAM 3:

Family and Consumer Sciences 4-H Core Curriculum

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. 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.

Life choices are often based more on personal desires rather than factual information. Those who seek information often turn to internet sources which may not be based in research. Decision-making may be based on product marketing claims, family tradition, myths, faulty information, and lack of knowledge. 4-H offers projects in FCS which assist youth in becoming responsible and contributing members of the family and contributing members of Kentucky communities. At the same time, these life skills prepare youth for the families they will establish as adults.

Long-Term Outcomes:

Maximize or extend resources to maintain or increase financial. 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. Gain and maintain employment through life skill development

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 and responsible consumer and financial decision making.

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:

Evaluation: Small Steps to Health & Wealth online assessment
Outcome: Implement Financial Behavior Change
Indicator: Number of individuals reporting
Method: Online survey
Timeline: Immediate

Evaluation: Money Habitudes
Outcome: Intent to adjust spending habit toward financial stability
Indicator: Number of individuals reporting
Method: Survey, Observation
Timeline: Immediate

Evaluation: 4-H Financial Programs
Outcome: Youth will demonstrate responsible consumer and financial decision making
Indicator: Number of youth participating in programs
Method: Survey, observation
Timeline: October – June

Learning Opportunities:

Audience: Citizens
Project or Activity: Small Steps to Health & Wealth
Content or Curriculum: Small Steps to Health & Wealth
Inputs: Agents, Specialists, CES Facilities & Equipment
Date: January - March

Audience: Citizens
Project or Activity: Money Habitudes Program
Content or Curriculum: Money Habitudes
Inputs: Agents, Specialists, CES Facilities & Equipment, Community Partners.
Date: September-November

Audience: 4-H Program Participants, Parents, Volunteers
Project or Activity: 4-H Dollars and Sense, 4-H Reality Stores, APES, Career Education Programs
Content or Curriculum: 4-H and various curriculum
Inputs: Agents, Volunteers, Community Groups, Organizations, Schools Systems
Date: March, April