Iowa State University Extension

Problem:
Individuals, at some time or other, experience a struggle between needs, wants, and goals when making good financial decisions. This conflict with spending can cause individuals to make wrong choices through purchasing food, clothing, houses, fast foods, etc. Americans overspend because of not knowing the difference between a need and a want which causes unrealistic financial goals. However, when individuals buy according to what they realistically have, they will see that they will save more money and plan better goals. Therefore, all individuals could use a reminder of how to spend money wisely.

Response:
The Family Field Specialist conducted workshops on needs and wants through the Planning to Save Money curriculum. The workshops were successful because individuals were encouraged to share their financial problems. However, the Family Field Specialist assured the participants that the information they shared was confidential. During the discussions, participants are able to take a closer look at how they are able to make better financial choices. Suggestions are given by the Family Field Specialist. However, the participants do share valuable resources with each other during the presentation. By having participants' interaction throughout the workshop, they were able to increase knowledge on how to work through their financial problems.

Impact:
When the Family Field Specialist completed the workshop, an evaluation of the lesson was issued to each participant to find out what did the participants learned from the workshop and what behavior changes they will try to make in managing their finances better in the future. Below are the results of the evaluations.

All sixty participants said the workshop helped them understand needs and wants and learn how to set goals. Also, all participants said the family field specialist was very effective in teaching the lesson. Sixty percent of the participants reported they would make sure to save money, shop smarter, and not buy things they did not need.

 

Contact:
Myra Royal
Families Field Specialist
Polk County Extension
5201 NE 14 th Street Suite A, Des Moines , IA 50313
Phone 515-261-4212
Email mroyal@iastate.edu