Money Talk in Guthrie County
Staff Involved: Joyce Lash, Gina Lloyd, Linda Lilly

Problem:
Women have unique financial challenges. They live longer than men, have longer periods of unemployment, frequently have jobs with lower wages and often lack access to retirement benefits. Some women have relied on their spouse to manage their financial affairs and are uninformed about their financial status or what steps to take when their spouse is no longer present to manage their finances.

Response:
Gina Lloyd and Linda Lilly organized a group of local women to meet with ISU Extension field specialist Joyce Lash to organize and host the Money Talk program for Guthrie County in February of 2006. During the planning meeting the residents requested that the program be offered without registration fees to encourage a broader participation in the program. Funds to support the program were collected by Programming Director Linda Lilly from local financial businesses and women’s organizations. Thirty-five women attended one or more of the four sessions that addressed spending plans, insurance, investments and asset allocation, and retirement planning.

Impact:
A follow up survey was sent to participants three months after the program was completed. Ten surveys were returned and provided the following information. Participants had opened new retirement accounts; reviewed and changed life insurance coverage; began steps in completing the Getting Organized, Personal and Financial Record Book; were in the process of competing a will; and were working on their Estate plans. “I’m studying the statements from our investment company more carefully”, wrote one participant. Seven participants indicated that they had a better understanding of their family’s financial practices or had taken responsibility of one or more financial tasks after completion of the course. Eight individuals had completed a net worth statement. “Very interesting,” stated one participant. Six individuals indicated that they had reviewed their sources of income for retirement and had estimated the amount they would need. Two individuals had increased the amount they were saving or investing in retirement accounts. Four individuals had developed spending plans for their family.

Contact:
Joyce Lash
Field Specialist, Family Resource Management
101 North Polk, Mount Ayr, Iowa  50854
Phone 641-464-3333;  Fax 641-464-3333
Email lash@iastate.edu

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