Boone County CES

Title:

Financial Fitness

MAP:

Financial Fitness

Agents Involved:

Diane Mason

MAJOR PROGRAM 1:

Securing Financial Stability (general)

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.

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.

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: Awareness of money habits and need for managing money
Indicator: Post session evaluation
Method: Post session evaluation
Timeline: Immediately following session

Intermediate Outcome: Behavior change
Indicator: Individuals examined money habits and made one change for the better; individuals saving money; individuals creating spending and savings plans
Method: Follow up evaluation
Timeline: 3 to 6 months after the program

Long-term Outcome: Individuals become financially secure and self-sufficient
Indicator: Community and state statistics; fewer home foreclosers
Method: Monitor available statistics
Timeline: 4 years

Learning Opportunities:

Audience: Adults

Project or Activity: Money Talk

Content or Curriculum: Money Talk (Rutgers Extension)

Inputs: Money Talk curriculum guest speakers

Date: March 2018

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