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You are here: Home / Newsroom / Newsletters / Family Economics News - April 2006

Family Economics News - April 2006

The Cooperative State Research, Education, and Extension Service (CSREES) works with land-grant university partners and others to advance knowledge for agriculture, the environment, human health and well-being, and communities through national program leadership and Federal assistance. Among the Agency’s goals is to support increased economic opportunities and quality of life in rural areas. Family economics aligns with this goal by focusing on how individuals and families obtain and use resources such as money, time, human capital, material resources, and community services; by exploring the relationship between individuals and families and the larger economy; and by studying the impact of public issues, policies, and programs on family economic well-being.

Research/Program Evaluation

  • Are We Making the Grade? A National Overview
  • Training Educators and Community Collaborators

Education/Extension

  • Retirement Site Available in Spanish
  • Return on Investment-eXtension

Resources

  • Federal Deposit Insurance Coverage Changes
  • 2006 Consumer Action Handbook
  • Avoiding the Money Trap
  • Taking the Mystery Out of Early Retirement
  • FDIC Consumer News-Preparing for Fires, Floods, and other Misfortunes

Opportunities

  • Call for Papers:
    • Journal of Personal Finance
    • Journal of Youth Development
    • 2006 Family Owned Business Institute (FOBI)
    • Association for Financial Counseling and Planning Education (AFCPE)
    • Community Affairs Conference (Federal Reserve)
    • The Future Urban Agenda Conference
    • Financial Counseling and Planning
  • Funding:
    • NASD Investor Education Foundation
    • NRI - Nutrition and Obesity
    • Learn and Serve America
    • Assets for Independence

Calendar

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Many financial education providers still do not have a basic level of evaluation capacity and are unable to identify program outcomes and design effective evaluation instruments. It is difficult to propose a national evaluation strategy without a basic understanding of current evaluation capacity and of the critical gaps in program evaluation. In addition, there has been little discussion about the challenges facing financial professionals and educators who are on the "front lines" delivering and evaluating programs. The purpose of this survey article is to address these critical gaps in the literature and to provide an overview of the current state of financial education and program evaluation. This study uses qualitative and quantitative data collected from financial professionals and educators nationwide to provide insight building national evaluation capacity and conducting more effective program evaluations. This project is funded by the National Endowment for Financial Education (NEFE)®. This article is pending publication in the Winter 2006 issue of the Journal of Consumer Affairs. For additional information, contact Angela Lyons.

Financial security is the ability to meet future needs while keeping pace with day-to-day obligations. The Cooperative Extension National initiative Financial Security in Later Life seeks to a) help people improve personal finance behaviors leading to financial security in later life, b) enhance the capacity of local educators and their partners to deliver effective programs, and c) increase economic vitality and quality of life for families and communities. A satellite videoconference designed to increase the capacity of educators and community partners to deliver effective programs was held in December 2003. On-line evaluations indicate this capacity-building opportunity clearly met objectives. To learn more, see the Journal of Extension Web site.

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The web site, Planning for A Secure Retirement, is now available in Spanish as well as English. The site has been translated into Spanish and audio clips in Spanish have been added to some of the 10 modules. The web site helps people plan for retirement by answering questions about retirement and providing links to other resources. Sharon DeVaney and Janet Bechman developed the original site at Purdue University in 2000. Alicia Rodriguez-Flores, a Purdue doctoral student, provided the Spanish translation. Click on the link Espanol in the upper right corner of the screen to access the Spanish version. To find this site on the Financial Security in Later Life (FSLL) website, click on Tools for Consumers and then Extension Learning Tools. Among other resources, you will find the Planning for A Secure Retirement website in English and Spanish.

Dan Cotton, eXtension Director, distributed the 2005 Annual Report for the eXtension initiative to the National Extension Directors & Administrators meeting in Albuquerque, NM,on Feb.15, 2006. The report “Return on Investment” highlights the progress made by the eXtension staff members, advisory groups, governing bodies, and others who supported the initiative in 2005. The report features the first Call for Engagement and announcement of the eight Pioneer Communities of Practice, the launch of the Frequently Asked Questions initiative, and provides a listing of those various individuals involved in the project as either staff members, governing bodies, and advisory groups. Of the eight Pioneer Communities of Practice, one of the two prototypes of the original development process is Financial Security. Learn more about this Cooperative Extension System eXtension Initiative.

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The FDIC Board of Directors met on Mar. 14, 2006, and approved final interim rules that will raise the deposit insurance coverage on certain retirement accounts at a bank or savings institution to $250,000 from $100,000. The increase, the first in more than 25 years, will become effective Apr. 1. The basic insurance coverage for other deposit accounts will remain at $100,000. The FDIC Consumer News Bulletin explains the deposit insurance coverage changes in an easy-to-read, consumer-friendly format.

The Federal Citizen Information Center’s (FCIC) newly released 2006 Consumer Action Handbook is the everyday guide for helping people find the best and most direct solutions to consumer problems and questions. The handbook is filled with useful tips to make better purchasing decisions, including information on buying cars, understanding credit, protecting privacy, avoiding identity theft, and much more. The handbook also gives consumers the steps to resolve any difficulties that may arise after a purchase. A sample complaint letter is available as a guide, and there's a directory of hundreds of consumer contacts at companies, government offices, and professional associations. Use the special on-line form to order a single free copy or free bulk quantities for use in education programs. This important information is also available on the Consumer Action Web site. Contact the Consumer Action Handbook Manager, Nicole Vincent, at (202) 501-0855 for more information or make suggestions for future editions.

The Annie E. Casey Foundation is making copies of the DVD Avoiding the Money Trap available to community based organizations, free or low-cost tax assistance programs, service providers, policy makers and others who work with low-income working families. The video is available in both English and Spanish. The financial challenges depicted in the video are typical of the struggles confronting low-income families across the country. Geographically isolated, and often lacking in financial education, rural families are especially vulnerable to predatory loans, high fees and other money traps. Many find it impossible to meet their current expenses and build a cash cushion for emergencies. This DVD gives practical advice on avoiding money traps, and tells the real-life stories of several families. An electronic order form for Avoiding the Money Trap will soon be available on the Annie E. Casey Foundation Web site under the "Spotlight On' section.

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) recently released a new publication to help Americans calculate the financial resources they will need to ensure a secure retirement. The publication, Taking the Mystery Out of Retirement Planning, is designed to help people who are within 10 years of retirement calculate their income, savings and likely expenses in retirement. The goal is to give these citizens a better idea of whether they are on track or how much they might need to save.

The Winter 2005/2006 FDIC Consumer News, published by the Federal Deposit Insurance Corporation, features a guide to preparing financially for fires, floods and other disasters. This information includes practical tips on essential financial items and documents to have readily available in an emergency evacuation bag that is waterproof, easy to carry, and kept in a secure place at home. It identifies important items and documents to store away from home, perhaps in a safe deposit box or with loved ones far away (i.e., not in the same neighborhood or across town). It also explains how to be on guard against disaster-related financial scams, such as fraudulent charities that pocket donations intended to go to victims.

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  • NASD Investor Education Foundation - The NASD Investor Education Foundation has released its 2006 grants application process. The Foundation is accepting proposals for research projects and/or educational programs that address its investor education and investor protection priorities. The proposal deadline or the General Grant Program is May 15, 2006. A conference call for prospective grantees will be held Apr. 20 at 2 p.m. Eastern. Registration information is available online.
  • NRI - Nutrition and Obesity - The 2006 CSREES National Research Initiative (NRI) includes a call for proposals on Human Nutrition and Obesity. Interdisciplinary efforts to better understand behaviors associated with lifestyle choices leading to optimum health and weight, including a household’s propensity to save, are encouraged. The proposal deadline is June 15, 2006.
  • 2006 Learn & Serve America - A Community-Based Grant Program - Non-profits, tribal governments and organizations, and higher education institutions can apply for 16 anticipated awards in the range of $350,000 to $500,000 for community development, jobs and training, and other activities that promote the development and sustainability of community-based service-learning programs in youth-serving organizations.
  • Assets for Independence - The Department of Health and Human Services, Administration for Children and Families, has announced funding opportunities through the Assets for Independence (AFI)Federal Grant Program. This program enables agencies to implement an asset-based approach for giving low-income families assistance out of poverty. Closing deadline is June 15.

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  • CSREES Contact: Jane Schuchardt, National Program Leader, CSREES-USDA
  • National Initiative “Financial Security in Later Life” Contact: Nancy M. Porter, Family Resource Management Specialist, Clemson University
  • Financial Literacy for Youth Contact: Erica Tobe, Program Leader for Financial Literacy & Housing, Michigan State University
  • Financial Security for All eXtension Contact: Debra Pankow, Family Economics Specialist, North Dakota State University

Back issues of Family Economics News are available.

To summit items for consideration for this newsletter07/25/2007its/staff_view.cfm?record_id=249&CFID=3376992&CFTOKEN=21337141">Jim Terry, Program Analyst, CSREES-USDA.

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Last Updated: 03/21/2007