Thinking Money at the Newport Library

“In the current economy, financial stability is important. That stability rests with families securing and managing their basic human needs of food, clothing, and shelter. Increasing buying power with wise consumer decision-making, avoiding pitfalls of overextended credit, developing saving habits, and managing financial risks are topics taught by Family and Consumer Sciences Extension.

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.”  http://www2.ca.uky.edu/hes/internal/Initiatives/04-initiative/program-planning.htm

The Campbell County Cooperative Extension Service collaborated with the Newport Library and N. KY University (NKY) to conduct a series of Financial Management classes for Tweens, Teens and the Adults in their lives. The series was a part of a Financial Expedition at the Newport Library Branch conducted by Janet Arno (Librarian), Ronda Rex (FCS Extension Agent) and Dr. Abdullah Al-Bahrani (NKY Professor of Economics). Ronda Rex, Agent for Family & Consumer Sciences Education taught 2 class of the series. The Managing Money in Tough Times Curriculum and Resources were utilized in the classes. The first class focused on “Stretching Your Holiday Dollar” and the second class was an adapted version of “Where Does Your Money Go?” Twelve tweens, teens, parents and teachers attended the session. End of program evaluation revealed that 100% of the participants completed a homemade gift for either a friend or family member. One hundred percent made a moneybox showing how to spend, save and share their money. One hundred percent of the participants created a spending plan for their money and planned to follow it for at least 1 month. Fifty-eight percent tracked their expenses for at least 1 week to get an idea of how they were spending their money. Fifty-eight percent set a money management goal. Janet Arno reached out to the Campbell County Schools to get students and their parents to attend the program. Janet also hosted and set up the Thinking Money Expedition while Dr. Al-Bahrani focused on economic concepts such as employment, income, savings and Economic Selfies during his 2 sessions.  

References: Securing Financial Stability Initiative from the University of Kentucky Cooperative Extension Service Family & Consumer Sciences Program http://www2.ca.uky.edu/hes/internal/Initiatives/04-initiative/program-planning.htm