Take Control of Your Money Web Course
Problem
facing our clientele:
The money management problems reported by Take Control of Your Money
participants when they signed up for the web course mirror the problems
of many Iowa families. The concerns listed include:
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Debt
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Emotional spending
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Living paycheck to paycheck
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Check cashing service problems
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Divorce
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Child support – paying/receiving concerns
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One income – single parent/stay home mom
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Different money values with a couple
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Talking about money within the family
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Few retirement funds
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Home safety repairs needed – no funds
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Saving for college
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Medical bills – off work
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Self-employed – no insurance
Extension’s
response to the problem:
CEED’s in Polk, Jasper and Dallas counties requested a web course
for their clients who did not have time to attend face to face classes
or preferred to learn via the web. The 7 unit course was developed with
content input from Family Resource Management Field Specialists. An
e-mail money tip is sent to participants most weeks to encourage continued
management of their money.
The impact
on the clientele:
Forty-five people registered for the web course between June 27, 2005
and March 13, 2006. Ten participants are male and thirty-five are female.
Participant incomes are diverse:
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6 have annual income less than $20,000
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9 have incomes between $20,001 - $30,000
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16 have incomes from $30,001 – 50,000
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9 have incomes between $50,001 – 80,000
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3 have income over $80,000
Age distribution:
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under 25 – 3 participants
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between 25 – 34 – 13 participants
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between 35 – 44 – 17 participants
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between 45 – 54 – 7 participants
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between 55 – 64 – 4 participants
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no one listed an age over 65
Ten responded to an e-mail evaluation sent on March 14, 2006. Three indicated they were just beginning to work through the web course and were not ready to complete an evaluation form.
1) Have you reduced your debt? Yes – 7
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I am currently “cleaning” my credit history.
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We reduced credit card debt to zero (if I charge it, I pay it off that month), but now have borrowed for two kids in private college (partnership loan program)
2) Have you increased your savings? Yes – 4 Somewhat -1 No - 2
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I have realized the importance and benefits of savings.
3) Have you established financial goals to guide your financial decisions? Yes – 7
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I am thinking more futuristically, rather than immediately
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Any goal (which we have focused more on since kids are out of the house) is more goal than we ever had!! Yes, we have some ideas to consider.
4) Do you make more informed consumer decisions? Yes – 7
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When purchases are substantial.
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We try to. Still, with the unpredictability of income, it's a challenge.
Between March 14 and 27, six additional sign-ups for the Take Control of Your Money course were received.
Contact:
Ruth Freeman
Family Resource Management Field Specialist
104 W. Washington Street
Jefferson, Iowa 50129-1920
Phone 515-386-2138
Fax 515-386-3884
E-mail rofreema@iastate.edu
..........more stories....................!
Last update: June 20, 2006
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