Author: Nola Janeen Tramble
Planning Unit: Crittenden County CES
Major Program: Financial Education - General
Plan of Work: Securing Financial Stability for our community to build a better community
Outcome: Initial Outcome
Financial education programs often highlight financial literacy skills such as budgeting and managing credit card debt; however, these skills do not tap into the emotional and practical issues that cause people to react irrationally with money. Financial decisions are most often motivated by emotional need as opposed to logical knowledge. To address this concern, the Crittenden County Cooperative Extension Service utilized the Money Habitudes program to emphasize the importance of developing a healthy relationship with money. Assisting an individual in discovering his or her habits and attitudes toward money, can provide insights that can change the way an individual manages his or her money, approach career and relationships, and reach life goals. The Crittenden County Extension office offered the program “Money Habitudes Online” as part of the community Christmas for Christmas program. During the holiday season 2021, 24 consumers participated in the online lesson and six of them also completed an evaluation of their experience. Of the six survey respondents, 83 percent indicated they learned how habits and attitudes trigger spending; 83 percent better know how to manage money to reach financial goals; and 83 percent had increased confidence in handling money issues or specific financial matters. Of the survey respondents, 100 percent indicated they plan to adjust at least one spending habit toward financial stability; 100 percent plan to be more aware of how money affects relationships; and 100 percent plan to implement at least one strategy to reduce expenses or manage money. Money Habitudes solitaire enabled 83% of respondents to better understand their spending and saving behaviors. The most significant things this group plans to apply as a result of this workshop, include: planning (2 respondents), teaching kids these concepts (2 respondents), saving (1 respondent), security (1 respondent), attitude (1 respondent), self-reflection (1 respondent), and money management (1 respondent). "This was a great class to show me how to better manage my money for the good of my kids," said one participant. "I found out more about me," stated another.
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