Iowa State University Extension

Problem:
Individuals at some time or other experience a struggle between needs, wants, and goals when making good financial decisions. When individuals buy according to what they realistically have and need they are able to plan better and save more.

Response:
The Family Resource Management Field Specialist conducted a 2 hour workshop on needs and wants using the Planning to Save Money curriculum. 15 participants reviewed scenarios on spending leaks and unexpected problems and how to adjust income. There were no “right answers” and teams openly shared solutions. Suggestions were given by the Family Field Specialist and participants. By having participants' interaction throughout the workshop they were able to increase knowledge on how to work through their financial problems.

Impact:
An end of meeting evaluation was used: All fifteen participants said that the workshop helped them to understand needs, wants and learn how to set goals. All participants reported that they would save money, shop smarter, and not buy things that they did not need. A second training has been scheduled this fall with the same group.

Contact:
Jan Burk
Field Specialist/Family Resource Management
Iowa State University Extension/Clay County
110 W. 4th Street, Suite 100
Spencer, IA. 51301
janburk@iastate.us
712-262-2264