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

Family Economics News - October 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

  • Evaluating Financial Education
  • The State of the Nation's Savings

Education/Extension

  • Tools for Eldercare
  • New Partner for Youth Education

Resources

  • Public Policy Tool Kit
  • Helping Teens Get Good Grades in Money Management
  • Journal of Family and Economic Issues
  • Financial Success Archives: Weekly Tips

Opportunities

  • Call for Papers:
    • Journal of Personal Finance
    • Journal of Youth Development
    • Financial Counseling and Planning
    • Journal of Family and Economic Issues/Consumer Finances
    • American Council on Consumer Interests (ACCI) Conference
    • American Association of Family and Consumer Science (AAFCS)
  • Funding:
    • Excellence in Economic Education Grants (Excellence in Education Grants)
    • National Endowment for Financial Education® (NEFE®)
    • NASD Investor Education Foundation

Calendar

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Many financial education providers do not have a basic level of evaluation capacity, and so are unable to identify program outcomes and design effective evaluation instruments. It is not easy to propose a national evaluation strategy without a basic understanding of current evaluation capacity and the critical gaps in program evaluation. Also, there has been little discussion about the challenges facing financial professionals and educators who are on the "front lines" delivering and evaluating programs. This survey article addresses these critical gaps in the literature and provides an overview of the current state of financial education and program evaluation. This study uses data from financial professionals and educators nationwide to provide insight into building a national evaluation capacity and conducting more effective program evaluations. This article is available in the "Journal of Consumer Affairs."

Assets are like ladders that can place low- and moderate-income (LMI) families in reach of opportunity. Also, increased saving benefits both households and the economy overall. If every household with less than the median net worth saved an additional $1,000, it would add $56 billion to the economy. This paper, published by the Urban Institute, a nonpartisan economic and social policy organization, addresses barriers to saving among LMI households, such as asset tests in welfare and education policies. Click here to learn more.

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The National Association of Area Agencies on Aging (n4a) and the USDA/CSREES have launched a media outreach campaign focused on financial and retirement planning choices for baby boomers. The center of the campaign is the release of a new consumer guide entitled "Pick Up the Pace." This guide will educate boomers about financial and retirement planning choices. To access the Pick Up the Pace guide, go to the n4a/CSREES joint press release. The Eldercare Locator is also available through the collaboration. The Eldercare Locator is a site designed to be the first step to finding resources for older adults in any U.S. community.

The National Endowment for Financial Education® (NEFE) and JA Worldwide™ (Junior Achievement) in late September announced their partnership to work together to expand the outreach of the NEFE High School Financial Planning Program® (HSFPP). The 5-year affiliation was formally announced at the Credit Union National Association, Inc. (CUNA) Financial Literacy Summit in Washington, D.C. The partnership was conceived through the organizations’ mutual belief that teens with financial education are better prepared to meet life’s challenges. JA volunteers will introduce the program to high schools in conjunction with the JA Economics for Success curriculum, a program that provides practical information about personal finance. JA Economics for Success also highlights the importance of identifying education and career goals based on a student’s skills, interests and values. This agreement will not affect current partnerships with the Cooperative State Research, Education and Extension Service, USDA, participating land-grant university cooperative extension services, CUNA, and America’s credit unions. Visit the NEFE Web site for more information about the HSFPP or visit the CSREES Financial Security program page (under partnerships).

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The American Association of Family and Consumer Sciences has developed an electronic Public Policy Tool Kit to coach individuals in accessing policy information and sharpening policy engagement skills. Visit www.aafcs.org/Home.html.

Putting dollars aside for the future and learning how to be smart consumers are still important things for teens to do. Teens have access to more money than ever before thanks to allowances, gifts and, for many, income from jobs. Teens also are becoming more responsible for making decisions about everything from small, everyday purchases to saving for college or a car. The latest issue of FDIC Consumer News, published by the Federal Deposit Insurance Corporation, has a special guide to help teens (and many pre-teens) learn how to make good decisions about their money, right from the start. Topics include Saving Money, Where to Keep Your Money, Spending Money, Borrowing Money, Protecting Against Fraud, Banking Basics, and more. The publication, entitled Start Smart: Money Management for Teens, is available online.

The Journal of Family and Economic Issues is a quarterly journal that features articles pertaining to family and personal financial education. The fall issue is now available, with articles including Financial Reciprocity and Elder Care, The Impact of Age and Health on Vehicle Choices Among Elders, Balance Sheets of Early Boomers, and more. Click here to view this resource online.

The Personal Financial Planning Department of the University of Missouri, Columbia, provides affordable, unbiased education and counseling in all areas of personal finance to individuals and families. This office offers free subscriptions to its Weekly Financial Tip regarding personal finance. Archives of the Weekly Financial Tips are available online.

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  • National Council on Economic Education: The Excellence in Economic Education Act promotes economic and financial literacy among students in kindergarten through grade 12. Grants to national non-profit educational organizations give students a better understanding of personal finance and economics. Deadline for non-research sub-grants is October 6, 2006. Deadline for research sub-grants is October 16, 2006.
  • National Endowment for Financial Education (NEFE®) - Inquiries of particular interest to the foundation will be directly relevant to the outcomes of a national symposium NEFE® conducted last fall, titled “Closing the Gap between Knowledge and Behavior: Turning Education into Action.” For more information about the grants program and symposium outcomes, please visit the NEFE® Web site and click on the “NEFE Grants Program” tab of the “Grantmaking” section. Download the symposium white paper by clicking on the “Research & Strategy” tab of the Innovative Thinking action area. Note: NEFE conducts three grant cycles per year. The next deadline for submissions is December 5, 2006.
  • NASD Investor Education Foundation: Subscribe to the e-mail newsletter for periodic updates and announcements of new grant deadlines.

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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 submit items for consideration for this newsletter, contact Jim Terry, Program Analyst, CSREES-USDA.

The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or part of an individual’s income is derived from any public assistance program (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD). To file a complaint of discrimination, write to USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, DC 20250-9410, or call (800) 795-3272 (voice) or (202) 720-6382 (TDD). USDA is an equal opportunity provider and employer.

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Last Updated: 07/25/2007