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Telling the “Financial Security in Later Life” Impact Story Nancy Porter, Co-Chair NIMT

Telling the “Financial Security in Later Life” Impact Story Nancy Porter, Co-Chair NIMT Jane Schuchardt, Co-Chair NIMT November, 2005. FSLL Impacts. 24 states have reported data online 38,132 individuals participated in programs 89% surveyed increased their financial literacy

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Telling the “Financial Security in Later Life” Impact Story Nancy Porter, Co-Chair NIMT

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  1. Telling the “Financial Security in Later Life” Impact Story Nancy Porter, Co-Chair NIMT Jane Schuchardt, Co-Chair NIMT November, 2005

  2. FSLL Impacts • 24 states have reported data online • 38,132 individuals participated in programs • 89% surveyed increased their financial literacy • 59% surveyed planned to utilize practices • 48% have reported utilizing recommended practices • 38% planned to establish or revise investment goals

  3. FSLL Impacts • 46% planned to develop an integrated plan to accumulate, protect, and distribute assets • 23% surveyed after the program reported better management of credit • 53% have developed a plan to achieve retirement income goals • 43% indicated on follow-up surveys that they had utilized one or more recommended practice • 93% would recommend programs they completed to others

  4. FSLL Success Stories • “Positioning for Success” satellite video conference, 2003 • Featured success stories from 8 states and CFA • Streaming video available at www.csrees.usda.gov/fsll

  5. FSLL Recognition • 2004 ADEC Excellence in Distance Education Honorable Mention Award • 2004 AFCPE Outstanding Educational Program Award • 2005 Selected for eXtension Prototype Launched in February

  6. Two Questions • What difference are you making? • How do you know? Hungry – get food, eat food, feel better

  7. Logic Model • Inputs – what we invest • Outputs – what we do • Outcomes – what results • Short – learning • Medium – action • Long– conditions Source:http://www.uwex.edu/ces/pdande/evaluation/evallogicmodel.html

  8. Internal Uses • Extension administrators • eXtension • CSREES • http://www.csrees.usda.gov/financialsecurity

  9. External Uses • www.mymoney.gov • TSP Act of 2004 • SAFE • Strategy for Assuring Financial Empowerment

  10. Lessons Learned • Changing behavior is a process – I know, I will, I do, I do over time • Organizational change is important • Indicators must be SMART • In-service training is critical • Partnerships add value • Impacts open doors

  11. Keys to Success • Begin with the end in mind • Invite an evaluator • Say it simply • Celebrate success

  12. QUESTIONS?

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