Pike County CES

Title:

Financial Education

MAP:

Enhance Life Skills and Build Consumer Awareness

Agents Involved:

Froman, Porter, Stumbo, Workman

MAJOR PROGRAM 1:

Agriculture

MAJOR PROGRAM 2:

Communications and Expressive Arts

MAJOR PROGRAM 3:

Family and Consumer Science

MAJOR PROGRAM 4:

Camping

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.

In the United States, only 1/3 of high school seniors are college-ready. Only 1/3 of high school graduates are work-ready.  

Kentucky Student Transitions - (2016-2017)

College        54.7%

Technical Training    5%

Military            3%

Working        23.4%

Other            13.8%

Sources: Kentucky Department of Education (2019)

US Department of Education (2019)

Although not the largest industry in the Commonwealth, STEM careers do have a large economic impact.

•    Through November 2019, Kentucky exported $13.25 billion of aerospace products and parts, a 16.7% year over year increase (Lopez, 2020)

•    Kentucky has seen a 63% employee increase in the private aerospace products and parts manufacturing industry since 2002 (Lopez, 2020). 

•    The Kentucky Annual Mean Wage is $42,410 (BLS, 2019)

•    Computer and Mathematical Occupations make- up 1.6% of Kentucky Jobs with an annual mean wage of $68.790 (BLS, 2019).

•    Architecture and Engineering Occupations make- up 1.4% of Kentucky Jobs with an annual mean wage of $72,460 (BLS, 2019).

Assumptions:

*4-H Programs provide Members with academic & social enrichment complimenting and enhancing formal learning, aligning with benchmarks and developing essential 21st Century Skills for Success 

*4-H Programs prioritize offering authentic learning experiences, increasing family engagement, and developing partnerships improving program quality and sustainability.

 

External Factors:

*Access to school & community resources related to college and career readiness

*Economic & social factors affecting members and families

* The lack of reliable internet in our community.

Long-Term Outcomes:

• Better family money management skills, such as reducing debt, increasing savings, and financial planning.
• More effective employees and community leaders.
• Improved financial capability for Kentuckians, results in better quality of life and stronger families.
• Gainful employment in rewarding careers 
• Lower unemployment rates 
• Full participation in local and state community 

Intermediate Outcomes:

• Practice one or more resource management behaviors resulting in increased savings or investments.
• Adopt financial planning strategies for short-, mid-, and long-term goals.
• Successful completion of postsecondary programs
• Entry into careers of choice
• Lower amounts of student loan debts

Initial Outcomes:

• Increased knowledge and skills related to managing financial resources, including savings, credit, and financial planning. 
• Change knowledge, opinions, skills, and aspirations, to improve employability through work and practical living skills and continuing education practices. 
• Increase financial literacy (knowledge and skills) related to savings and investments.
• Better alignment with expectations with Schools, Postsecondary Institutions, and Businesses
• Increased funding and resources to 4-H Programs
• Increased participation in local and state 4-H Programs   
• Sustained, higher-quality 4-H programs 
• Higher graduation rates 
• Increased entry into postsecondary programs 
• Increased access to financial aid 

Evaluation:

Outcome:  Increased awareness of sound financial behaviors

Indicator(s):  Number of individuals who implemented at least one strategy to reduce expenses or manage money

Number of individuals who made a sound financial decision (regarding credit, budgeting, savings, and/or debt)

Method:  Retroactive pre-post

Timeline: Sept 2021

  

Outcome:  Increase knowledge and skills related to managing financial resources

Indicator: Number of individuals reporting increased levels of understanding in the area: confidence in handling money issues or specific financial matters

Method:  Retroactive pre-post 

Timeline:  Sept 2021

Learning Opportunities:

Audience: Adults, young adults, and teens

Project or Activity: Money Habitudes Workshop

Content or Curriculum: Money Habitudes

Inputs: FCS Agent, curriculum publications and resources, Money Habitudes cards

Date:  Spring 2022

 

Audience: Adults, young adults, and teens

Project or Activity: Credit Education 

Content or Curriculum: Good Credit Game

Inputs: FCS Agent, curriculum publications and resources, Good Credit Game set

Date: March 2022

 

Audience: Recovery Centers

Project or Activity: Financial Education

Content or Curriculum: Recovering Your Finances

Inputs: Coordination with community stakeholders

Date: March 2022

 

Project or Activity: Financial Education

Content or Curriculum: American Private Enterprise Seminar & It’s Your Reality

Inputs: Workshops and pre-workshop curriculum, U.K. Career Day, 

Date: March – June 2022

 

Project or Activity: 4-H Life Skills

Content or Curriculum: National & Kentucky 4-H Curriculum

Inputs: 4-H Project Books, Workshops, 4-H Fairs, 4-H State Fair

Date: Spring 2021-2024

 

Learning Opportunities/Programs: STEM Activities; American Private Enterprise Seminar

Curriculum: 4-H Aerospace Adventures, 4-H Discovering Computer Science, 4-H Electric Projects, Junk Drawer Robotics, 4-H Small Engines, 

Inputs: 4-H Project Books, 4-H Project Camps, Workshops, 4-H Fairs

Date: Spring 2022

 

Impact Indicators: 

Base Level: Number of 4-H Members and Participants in College and Career Educational Programs 

Advanced Level: Number of 4-H Members and Participants completing and using Resume and Interview Skills 

Number of 4-H Members and Participants completing post-secondary education 

Number of 4-H Members and Participants entering the workforce 

Success Stories