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Money Talk: A Financial Course for Women
Other staff involved: County Extension Education Directors Angie Nelson, Leroy Jensen, Darwin Miller

Need:
A variety of socioeconomic factors (longer lifespan, lower wages, more breaks in employment, less pension coverage) put women at greater risk than men when it comes to lifelong financial well-being. Women need high levels of financial knowledge and skill in order to ensure long-term financial well-being.

Response:
Iowa State University Extension offered “Money Talk: A Financial Course for Women” in Wright, Marshall and Hardin Counties in north central Iowa in 2006, in cooperation with varying local partners in each county. This five-part series provides a comprehensive review of core financial content: basic management skills, insurance essentials, investment fundamentals, retirement realities and legal issues. Forty to fifty percent of the course was taught by the Extension Family Resource Management Field Specialist, with additional content taught by local financial and legal professionals. An informative and practical workbook is also included in the course.

Impact:
Forty-two women participated in the ten-hour workshop series in Wright, Marshall and Hardin Counties; thirty completed end-of-series evaluation forms. Of those respondents:

  • 97% reported that their knowledge, skill and confidence for making financial decisions improved because of the series.
  • 59% reported that even before the 5-week series was done, they had already taken action to improve their financial situation. Examples include: identifying financial goals, increasing control over monthly cash flow, reviewing or modifying insurance coverage, calculating retirement income needs, increasing investment for long-term goals, preparing or updating legal documents, discussing legal documents/issues with family members.
  • 90% indicated intent to take action in the near future on issues such as those listed above.

Many positive participant comments were received, including those indicating that the series:

  • “made me more aware of where money is spent”
  • “made me aware of how much money I’ll need for retirement.”
  • was “useful to make better decisions.”
Several participants also commented that the book, especially the worksheets in the book, will continue to be a useful tool as they work on building their long-term financial well-being.

Contact:
Barb Wollan
ISU Extension Family Resource Management Specialist
311 Bank Street, Webster City, IA 50595
Phone 515-832-9597; Fax 515-832-9599
Email bwollan@iastate.edu

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Last update: February 27, 2007 
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