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Family Economics News - September 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

  • Employee's Poor Money Management Impacts Employers


  • America Saves Week
  • NEFE®,CSREES Renew Partnership


  • American Council on Consumer Interests (ACCI)
  • Payday Loans
  • Consumer Education and Information: Guidelines for Business Sponsored Materials
  • AWARE (Americans Well-informed on Automobile Retailing Economics)


  • Call for Papers:
    • Journal of Personal Finance
    • Journal of Youth Development
    • Financial Counseling and Planning
    • Journal of Family and Economic Issues/Consumer Finances
    • National Association of Community Development
    • Extension Professionals (NACDEP) Conference
    • American Council on Consumer Interests (ACCI) Conference
    • The Future Urban Agenda Conference
  • Funding:
    • Excellence in Economic Education Grants
    • National Endowment for Financial Education® (NEFE®)



Poor employee financial literacy costs employers at least $750 in cash for each employee every year, according to research reported by the Personal Finance Employee Education Foundation. Employers can expect $450 in positive job outcomes and $300 in lower health care costs for each employee that improves his or her financial behaviors and financial well-being. Mid- and large-size employers might realize additional savings of $1,274 for improving employee financial literacy.

For details, go to the Personal Finance Employee Education Web site and click on Press releases.


America Saves Week, February 25 – March 4, 2007, is a new effort in the ongoing partnership between Cooperative Extension and America Saves, coordinated by the Consumer Federation of America (CFA).  Your participation in this national week will help motivate low- and moderate-income individuals to save money, build wealth, and reduce debt.  Extension has been actively involved with America Saves since 2002.  See the Impact Report under Selected Results and Impacts. Along with the Impact Report, you can also view the America Saves Week Guide for Extension Educators. The “America Saves Week Guide for Extension Educators” helps you plan, implement, and evaluate an effort in your locality. A team of your Extension colleagues, working with America Saves/CFA staff, developed this guide.   

The National Endowment for Financial Education® (NEFE), a Denver-based non-profit foundation, and CSREES have extended their partnership to promote financial literacy among America’s youth. With the signing of a 5-year agreement, the two organizations launch a 15th year of nationwide delivery of the NEFE® High School Financial Planning Program® (HSFPP). The Credit Union National Association also is a major national partner. The HSFPP reaches more than a half a million teens annually with personal finance tools for life. More than 43 state extension services participate in updating, delivering, and evaluating the program. A nationwide program evaluation completed in 1998 and repeated in 2003 showed the HSFPP works in improving personal finance knowledge, behavior, and confidence amongst teens. The HSFPP, currently under revision and scheduled for availability in mid-2007, will have more Web-based options to complement classroom delivery. For more information, visit the NEFE Web site. Click here to view the NEFE/CSREES partnership press release.


Papers and session summaries from the 52nd Annual ACCI Conference, held in Baltimore, MD, March 15 – 18, 2006, are available in the conference proceedings, the Consumer Interests Annual.

Payday loans are cash advances secured by personal check. Borrowers must repay these loans in full by their next payday to keep the personal check from bouncing. Cash-strapped consumers run the risk of becoming trapped in repeat borrowing. To educate and protect consumers, the Consumer Federation of America offers information on how payday loans work, how to figure out how much payday loans cost, and how to check out the status of payday lending in each state.

Business, government, and consumer organizations share a common goal to educate consumers. In order for these entities to work effectively together, the American Council on Consumer Interests, Federal Citizen Information Center, and the Society of Consumer Affairs Professionals in Business (SOCAP) developed guidelines for business-sponsored materials.

Americans Well-informed on Automobile Retailing Economics (AWARE) is a non-profit organization seeking to build a greater understanding about how auto financing works. AWARE focuses on auto financing education in materials, a Web site, and other educational offerings that are entirely free of marketing, advertising, or sales efforts. Visit their Web site for financing calculators, tips, free educational materials, an eNewsletter, an auto financing quiz, and an advice column.


  • The Excellence in Economic Education Act (EEE) provides grants to promote economic and financial literacy. Any state education agency, local education agency, or state or local economic, personal finance, or entrepreneurial education organization that works with K-12 students may respond to this request for proposals.
  • National Endowment for Financial Education (NEFEŽ) - 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.


  • 2007 Federal Reserve System Community Affairs Conference, Capital Hilton Hotel, Washington, DC, March 29-30, 2007. Details pending.
  • Saving and Investing: Our Future Depends on It Conference, April 10-11, 2007, Holiday Inn Grand Montana, Billings, MT.
  • National Association of Community Development Extension Professionals (NACDEP) Conference, April 16-19, 2007, Philadelphia, PA. Details pending.
  • 2007 ACCI Annual Conference, St. Louis, MO, April 18-21, 2007. Details pending.
  • 21st Century Families Conference, Little Rock, AR, April 17-19, 2007.
  • The Future Urban Extension Agenda Conference: Reaching New and Diverse Audiences, Kansas City, MO, May 7-10, 2007.
  • 2007 NCCC-52 Conference, October 24-27, 2007, Baton Rouge, LA. Contact Angela Lyons.


  • 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.

Mention or display of a trademark, proprietary product, or firm in text or figures does not constitute an endorsement by the U.S. Department of Agriculture and does not imply approval to the exclusion of other suitable products or firms.