Knox County CES

Title:

Teaching families and youth to budget and spend money wisely

MAP:

Securing Financial Stability

Agents Involved:

Renata Farmer, Wayne Kirby

MAJOR PROGRAM 1:

Financial Education - General

MAJOR PROGRAM 2:

Family and Consumer Science

Situation:

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.

Long-Term Outcomes:

• Better family money management skills, such as reducing debt, increasing savings, and financial planning.
• Individuals and families are increasing their income as well as maximizing income resources consumption.
• Improve the quality of life for Knox County residents resulting in stronger families.

Intermediate Outcomes:

Number of people who:

• adopt short, mid and long term financial planning strategies.
• improve employ-ability through practical living skills and continued education practices.
• demonstrate practical living skills related to economic or enterprise development, as well as seeking to ascertain advance education credentials.
• practice one or more resource management behaviors resulting in increased savings or investments.

Initial Outcomes:

• Teenagers and adults will show increased knowledge and skills related to managing available financial and non-financial resources.
• Change knowledge, opinions, skills and attitudes to improve through practical living skills and continued education practices.
• Increase financial literacy related to savings

Evaluation:

Initial Outcome: Families will learn to recognize where their money goes and identify needed areas or change.

Indicator: Families will create a budget and identify ways to increase savings and decrease spending.

Method: Information will be gathered through surveys/pre-post tests and individual testimonials.

Timeline: Program and evaluation will be conducted throughout the year

Initial outcome: Youth will learn that performance, soft skills and ability can impact employment

Indicator:Youth will recognize the relationship between money/employment

Method: pre and post evaluations/ 4-H Common Measures Tool

Intermediate Outcome: Families and youth will save money

Indicator: Establishment of savings accounts/increase in present saving plans.

Method: Information will be gathered through surveys/pre-post tests and individual testimonials, 4-H Common Measures Tool.

Timeline: Program and evaluation will be conducted throughout the year

Long-Term Outcome: Decrease in the poverty rate/unemployment rate

Indicator: Families increasing savings based on employment.

Method: U.S. Census Bureau and other federal statistics for Knox County

Timeline: 2019-2021

Learning Opportunities:

Audience/4-H Parents/General Public

Project or Activity:programs on budgeting

Content or Curriculum: Moneywise curriculum, FCS curriculum.

Date: throughout year

Project or Activity: 4-H Dollars and Sense

Content or Curriculum: 4-H Curriculum

Inputs: Extension Agents, FRYSC, Program Assistants, Teachers, Volunteers

Date: Spring 2021

Project or Activity: It's Your Reality/  4-H Reality Store

Content or Curriculum: 4-H Curriculum: Consumer Savvy;  It's Your Reality; good credit game

Inputs: Extension Agents, FRC, Program Assistants, Teachers

Date: Throughout 2020-2021

Success Stories