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You are here: Home / Newsroom / Newsletters / Family Economics News - July/August   2007

Family Economics News - July/August 2007

The Cooperative State Research, Education, and Extension Service (CSREES) works with land-grant university partners and others to advance knowledge for agriculture, the environment, human health and well-being, and communities through national program leadership and Federal assistance. Among the Agency’s goals is to support increased economic opportunities and quality of life in rural areas. Family economics aligns with this goal by focusing on how individuals and families obtain and use resources such as money, time, human capital, material resources, and community services; by exploring the relationship between individuals and families and the larger economy; and by studying the impact of public issues, policies, and programs on family economic well-being.

Research/Program Evaluation

  • Personal Finance Focus of State Report Card
  • Data Available on Income of Older Population 

Education/Extension

  • Dying Without a Will
  • Personal Finance 4-H Curriculums

Resources

  • Mortgage Comparison Calculator
  • Credit Unions' Focus on Youth
  • How to Use High-Tech Banking Services

Opportunities

  • Call for Papers:
    • Journal of Personal Finance
    • Journal of Youth Development
    • Financial Counseling and Planning
    • The Journal of Youth Development: Bridging Research and Practice
    • The Eastern Family Economics and Resource Management Association Conference
  • Funding:
    • Grants.gov
    • NASD Investor Education Foundation
    • National Endowment for Financial Education® (NEFE®) 
    • MMI Education Foundation
    • Small Business Innovation Research (SBIR)
    • Take Charge America Institute for Consumer Financial Education and Research
    • U.S. Department of Education
    • U.S. Department of Health and Human Services
    • Foundation for Financial Literacy

Calendar

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The National Council on Economic Education released  Report Card - Survey of the States: Economic, Personal Finance, and Entrepreneurship Education in Our Nation's Schools in 2007. This is a progress report of efforts, state-by-state, to improve economic and financial literacy through education. The report card, issued biennially, provides a national set of data that tracks the progress of economic and personal finance education via detailed state-by-state “snapshots.” The report says that states have made limited progress with economic and finance education in our nation's schools. Consequently, the majority of students do not get the essential real-life economic skills they need to become knowledgeable consumers, prudent savers and investors, and productive members of the workforce. 

   

The Employee Benefits Research Institute (EBRI) maintains extensive data on the income of those who are age 55 and older. The data-set used for these tabulations is the Census Bureau's Current Population Survey, Annual Social and Economic (or March) Supplement.  Data is presented by various demographics and is available in spread sheets for data years 1975 through 2005. Data on the income of the older population is contained in the following three chapters: Chapter 6, Income Statistics of the Population Ages 55 and Over; Chapter 7, Sources of Income for Persons Ages 55 and Over; and Chapter 8, Retirement Annuity and Employment-Based Pension Income.

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Some research studies show that 7 out of 10 Americans die without writing a will. To help Montanans understand the consequences of not having a will, Montana State University developed an interactive Web site.  By clicking "yes" or "no" to a variety of questions, Montanans can learn how their property would be distributed if they pass away without writing a will.  Members of the University of Montana School of Law, and the Montana State Bar's Business, Estates, Tax, Trust, and Real Property Section reviewed the Web site. The next stage of the project is to make an interactive CD with the same information for people who have "slow" or no internet service. The Western Center for Risk Management Education, CSREES, and Montana State University Extension funded the project.  Montana State University Extension also has more than 30 estate planning MontGuides (fact sheets) available. Other states could adapt the interactive "Dying Without a Will" Web site using specific information about their state's laws.  For subject matter questions, contact Marsha Goetting, Montana Extension family economics specialist. For Web site construction questions contact  Keri Hayes. 

State 4-H programs within the Cooperative Extension System, National 4-H Headquarters at USDA, and National 4-H Council have formed a new partnership to provide leadership for the development of National 4-H Curriculum. More than 180 curriculum products are available, including three focusing on youth financial education. Financial Champions teaches the basics of managing money for 7th to 9th graders. Consumer Savvy  focuses on basic consumer education skills, including decisionmaking, managing resources, and acquiring, analyzing, and using information. Be the E- Entrepreneurship empowers youth with the knowledge, skills, and mindsets to meet the challenges of work and community in the 21st century.

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The Federal Reserve Board has launched its new mortgage comparison calculator for consumers. The goals for this project are to help consumers compare across different mortgage types, to help them think beyond the initial payment to future payments, and to help them understand the equity-building features of different mortgages they are considering. An extensive help file provides supplemental information to the screen information. While this is a useful tool for consumers, it will be especially helpful to those community organizations doing work in home ownership programs.

The Credit Union National Association (CUNA) features the new edition of the NEFE® High School Financial Planning Program® (HSFPP) on its Web site. CUNA is in partnership with CSREES to help the National Endowment for Financial Education expand the use of the HSFPP nationwide. CUNA encourages credit unions to work with local extension educators to make schools aware of the program's benefits and availability, and to train teachers and volunteers in its use. For information about working with credit unions on this and other financial literacy projects, contact Philip Heckman at CUNA or Erica Tobe, program leader for Youth Financial Education, 4-H Youth Development, at MSU Extension.

New technologies are constantly adding speed, convenience, and flexibility to practically everything we do -- including how we bank and pay for goods and services. The latest FDIC Consumer News, published by the Federal Deposit Insurance Corporation, features a look at some revolutionary new ways to conduct daily financial transactions using high-tech cards and cell phones, along with tips for choosing and using these services. The Spring 2007 report iscusses potential benefits and concerns.

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  • Journal of Personal Finance. (Open submissions)
  • Journal of Youth Development: Bridging research and practice. (Open submissions) Contact Patricia Dawson with questions.
  • Financial Counseling and Planning (The Journal of the Association for Financial Counseling and Planning Education). (Open submissions)
  • The Journal of Youth Development: Bridging Research and Practice, is an online resource for youth development researchers, practitioners and policymakers. The multidisciplinary, applied refereed journal is published three times a year by the National Association of Extension 4-H Agents and focuses on the development of school-aged youth through the transition to adulthood (ages 6-22). This journal is particularly interested in receiving papers for publication consideration in the following categories: Research and Evaluation Strategy Articles, and Resource Reviews. For submission guidelines, visit the Journal of Youth Development's Web site (Open submissions.)
  • The Eastern Family Economics and Resource Management Association biannual conference. Seeking submissions for refereed papers, posters, educational program resource exchanges, symposia, workshops, and research in progress and programs in construction. Deadline for refereed papers is October 5, 2007. Deadline for Educational Program Resource Exchange; Symposia/Workshops is November 9, 2007. Deadline for Refereed Posters: Research in Progress; Programs in Construction is December 7, 2007. Go to the EFERMA Web site and click on Conference Proposals.

  • Grants.gov is your source to find and apply for federal government grants. There are over 1,000 grant programs offered by all Federal grant making agencies.

  • NASD Investor Education Foundation Grant Programs - The 2007 NASD Investor Education Foundation grant programs are available. The second cycle of the 2007 General Grant Program (June 14-August 10) includes projects that focus on behavioral finance, retirement income security of older Americans, and new marketing and distribution channels for investor education. For announcements, subscribe to the e-mail newsletter for periodic updates and announcements of new grant deadlines.

  • National Endowment for Financial Education (NEFE®) - The NEFE® Grants program has two grant cycles in April and October. The next deadline for grant proposals is June 5, 2007, for the October grant cycle. To learn more about the NEFE® Grants program visit the NEFE® Web site, and click on the Grantsmaking section.

  • MMI Education Foundation - The foundation uses its resources to serve the public interest and strengthen the communities where we live and work. The foundation provides periodic announcements and grant guidelines.

  • Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grant programs for 2007. The submission dates for grant applications are August 5 and December 5, 2007.

  • Take Charge America Institute for Consumer Financial Educationand Research. University of Arizona. Accepting proposals for consumer finance research grants. Deadline September 1, 2007.

  • U.S. Department of Education - Excellence in Economic Education. This program promotes economic and financial literacy for students in K-12.

  • U.S. Department of Health and Human Services - Grantees provide financial literacy training to enable low-income individuals and families to achieve economic self-sufficiency.

  • Foundation for Financial Literacy - The Foundation for Personal Literacy supports educational, charitable, and other organizations that use financial education to teach individuals how to convert earned income into passive and portfolio income.

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  • CSREES Contact: Jane Schuchardt, National Program Leader, CSREES-USDA
  • National Initiative “Financial Security in Later Life” Contact: Nancy M. Porter, Family Resource Management Specialist, Clemson University
  • Financial Literacy for Youth Contact: Erica Tobe, Program Leader for Financial Literacy & Housing, Michigan State University
  • Financial Security for All eXtension ( (pronounced ee-eXtension) Contact: Debra Pankow, Family Economics Specialist, North Dakota State University, or go to www.eXtension.org and click on Personal Finance.

Back issues of Family Economics News are available.

To submit items for consideration for this newsletter, contact Jim Terry, Program Analyst, CSREES-USDA.

The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on t07/30/2007, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or part of an individual’s income is derived from any public assistance program (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD). To file a complaint of discrimination, write to USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, DC 20250-9410, or call (800) 795-3272 (voice) or (202) 720-6382 (TDD). USDA is an equal opportunity provider and employer.

Mention or display of a trademark, proprietary product, or firm in text or figures does not constitute an endorsement by the U.S. Department of Agriculture and does not imply approval to the exclusion of other suitable products or firms.

Last Updated: 06/25/2007