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

Family Economics News - November 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

  • Current Population Survey      
  • College Students' Financial Behaviors

Education/Extension

  • New on eXtension  
  • The Virtual Extension Specialist

Resources

  • Community Development
  • A Blog for Everybody    
  • New Employee Saving Tips: Time is on Your Side
  • Federal Trade Commission: Consumer Credit Briefcase    
  • FINRA Investor Education Foundation: SaveAndInvest.org 

Opportunities

  • Call for Papers:
    • Journal of Consumer Affairs  
    • Journal of Personal Finance
    • Financial Counseling and Planning
    • The Journal of Youth Development: Bridging Research and Practice
    • The Eastern Family Economics and Resource Management Association Conference
    • The Journal of Consumer Education
    • Research Conference: Identifying and Resolving Financial Crises
    • 2008 American Council on Consumer Interests (ACCI) Annual Conference
  • Funding:
    • Grants.gov
    • The Regional Risk Management Education Program
    • FINRA Investor Education Foundation
    • National Endowment for Financial Education® (NEFE®) 
    • MMI Education Foundation
    • Small Business Innovation Research (SBIR)
    • National Research Initiative (NRI) Request for Applications
    • U.S. Department of Health and Human Services
    • Foundation for Financial Literacy

Calendar

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The following three chapters of the Employee Benefits Research Institute's (EBRI) Databook on Employee Benefits contain EBRI's latest estimates of the income of the population aged 55 and over using the Census Bureau's Current Population Survey (CPS) Annual Social and Economic (March) Supplement.  The latest year of data is 2006 using the March 2007 supplement to the CPS.

Chapter 6: Income Statistics of the Population Ages 55 and Over. Data is presented on percentage of the older population in poverty; real median income of the older population by gender; median and mean income of the population by education, marital status, and race; real median income by age and source of income; and comparison of the measurement of retirement income between the Current Population Survey, Annual Social and Economic (March) Supplement, and the National Income and Product Accounts of the United States. The end of the chapter contains a reference section to other EBRI research on income statistics of the population ages 55 and over in a question-and-answer format.

Chapter 7: Sources of Income for Persons Ages 55 and Over. Data is presented on percentage distribution of population and income by detailed income source, mean income, and median income; income from private sector- and public sector-defined benefit plans; private sector- and public sector-defined benefit plans by age of recipient; median income from major sources, married couples, and unmarried individuals aged 65 and over; percentage of individuals aged 55 and over with income from specified sources and percentage distribution of income from all sources by age; and percentage of individuals aged 65 and over with income from specified sources and percentage distribution of income from all sources by income quintile. The end of the chapter contains a reference section to other EBRI research on sources of income for persons ages 55 and over in a question-and-answer format.

Chapter 8: Retirement Annuity and Employment-Based Pension Income. Data is presented on the median and mean amount of retirement annuity and/or employment-based pension income received. The data represents the following demographics: age, sex, industry, education, marital status, and income quintile. The end of the chapter contains a reference section to other EBRI research on retirement annuity and employment-based pension income in a question-and-answer format.

"Being a first-generation college student, being financially independent, having a higher personal income, taking fewer credit hours, and living off campus result in a riskier attitude toward credit use by University of Arizona students." This was one finding of a report entitled Academic Success and Well-Being of College Students: Financial Behaviors matter. This study examines the financial behavior of 781 undergraduate students in areas such as cash management, credit management, savings, and risky credit use.  

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eXtension, pronounced ee-extension, is an interactive learning environment delivering the best information to the public from land-grant university professionals across America. Personal Finance, one of the topics on eXtension, offers information on consumer credit, estate planning, home ownership, retirement planning, and more. On this Personal Finance site you will find links to Frequently Asked Questions (FAQs) and an Ask the Experts (ATE) section. Both features provide an opportunity for users worldwide to receive a"just in time" response from Cooperative Extension personnel to solve a problem or make a decisión. About 800 FAQs have been published for public use. More than 1,000 FAQs will be published by year-end. All FAQs were developed by a Financial Security For All (FSA) Community of Practice (COP) member, peer-reviewed by two more COP members, reviewed by a copy-editor, and reviewed and published by Dr. Barbara O'Neill, the key word team leader and extension specialist for financial resource management at  Rutgers University. ATE questions from consumers are assigned to COP members by an eXtension"bot" (automated system) according to the topic (e.g., insurance, income taxes, saving and investing). If a question is not"resolved" (eXtension lingo for providing an answer to the consumer) within 2 days, three FSA COP leaders are notified so that a timely response can be provided. ATE questions may then be converted to FAQs and subsequently undergo the rigorous peer review-process described above. The ATE and FAQ address issues in general terms and their functions are designed to link learners to educational lessons. No advice about personal financial situations is provided. All Cooperative Extension family economists are invited to get involved on FSA COP key word teams to answer questions, review FAQs, and review featured resources. Contact Barbara O'Neill for further information.

This Journal of Extension article describes a new view of the extension specialist for the 21st century. The virtual extension specialist is vastly different from its human counterpart, yet relies on human interaction and expertise to establish itself in its virtual environment. Read the story of WoodPro, a living, breathing, virtual extension specialist, is presented to provide a glimpse of the future of extension. 

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The new publication, Linking Colleges to Communities-Engaging the University for Community Development, written by Ted Howard and Steve Dubb (University of Maryland Democracy Collaborative), aims to provide an across-the-board analysis of how universities can leverage their $350 billion annual economic activity, more than $300 billion in endowment assets, more than 2 million employees, and over 15 million students to meet the many social and economic challenges that face our nation. Get an electronic copy of the report from Community-Wealth.org.

The Federal Citizen Information Center has a new blog www.GovGab.gov offering Americans a new way to get information about the services and opportunities of the U.S. government. After reading, the public can comment and share their experiences. With its daily postings, Gov Gab helps citizens find answers to their government-related questions via Web sites like www.USA.gov and www.Pueblo.gsa.gov. Check out Gov Gab's Meet the Bloggers section for a short autobiography of each writer. Read along each weekday as the bloggers talk about the business of everyday life: figuring out what to do when an airline loses your luggage, learning how to roll over a 401(k), what to watch for when buying a new car, and much more.

The U.S. Department of Labor, Employee Benefits Security Administration (EBSA) has some tips for citizens to help them get started saving for their futures. For many people, it may feel like the expenses will never stop; rent, mortgages, credit cards, school loans, and car payments keep coming. It's important to save for these short-term goals, but it's also important to save for long-term goals as well. This information shows that if a person starts saving now the money will have years to grow and the person will have a better chance of being able to do all the things planned for in the future. This information outlines how to take the following steps: Find the money and get started; Take advantage of your employer's retirement savings plan; Open an Individual Retirement Account IRA); and Learn about some basic investment choices. EBSA provides many more publications you can read, including Savings Fitness: A Guide to Your Money and Financial Future, What You Should Know About Your Retirement Plan.  

The Federal Trade Commission (FTC) has updated its popular "Consumer Credit Briefcase." This mini-CD contains the PDF files for more than 50 consumer education materials on credit issues, including debt and bankruptcy; credit reports; credit cards and consumer loans; buying and selling real estate; mortgages; and identity theft and information security. To order free copies, limited to 200, visit the FTC's bulk order Web site and click on "Credit and Loans." 

 

The FINRA Investor Education Foundation has expanded SaveAndInvest.org, a site with strategies to avoid investment frauds, especially for military audiences. The site now also helps older investors recognize the persuasion tactics fraudsters use and makes it easier to identify and report suspicious pitches or actual scams. Visit SaveAndInvest.org's Web site to learn about these resources and additional FINRA investor resources.

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  • Journal of Consumer Affairs (Open submissions)

  • Journal of Personal Finance. (Open submissions)

  • Financial Counseling and Planning (The Journal of the Association for Financial Counseling and Planning Education). (Open submissions)

  • The Journal of Youth Development: (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.

  • The Journal of Consumer Education: The Journal of Consumer Education is accepting submissions for its 2008 issue. Submissions should be either in the form of a research article or a position paper. Research articles should clearly present (a) the problem statement and background on the problem; (b) research procedures including population identification, sampling techniques, data collection methods, and data analysis; (c) a summary of the findings and conclusions; and (d) a discussion of the implications for consumer educators and educational instruction or curricula development. Position papers should discuss important consumer education issues, problems, and trends, including social and economic developments related to consumer education content, curriculum development, legislation, or instructional materials and techniques.

    Manuscripts should be no more than 12 pages, including the text, references, tables, and figures. Please follow APA (5th Edition) style to prepare manuscripts. All manuscripts must be double-spaced with 1-inch margins. Authors should use minimal formatting and 12-point, Times New Roman font. To submit a manuscript, send an electronic copy of the paper, along with a title page, to Dr. Angela Lyons. All submissions should be sent as a Microsoft Word document. The deadline for submissions is February 22, 2008. Authors of submitted manuscripts must either be members of the Illinois Consumer Education Association (dues $20) or pay a $20 submission (check payable to the Illinois Consumer Education Association). Submission fees must be received by February 29, 2008, and can be mailed to:

    Angela Lyons and Urvi Neelakantan, Co-Editors Journal of Consumer Education, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign 421 Mumford Hall, 1301 West Gregory Drive, Urbana, IL 61801. Phone: (217) 244-2612. 

  • Research Conference: Identifying and Resolving Financial Crises - The Federal Reserve Bank of Cleveland and the FDIC's Center for Financial Research invite submissions for a conference on the topic of Identifying and Resolving Financial Crises, April 17-18, 2008, in Cleveland, OH. Deadline for papers is December 14, 2007. Contact Joseph Haubrich, (216)-579-2801, or Mark Flannery, (352)-392-3184, for more information.  

  • 2008 American Council on Consumer Interests (ACCI) Annual Conference, July 26-29, Orlando, FL, together with the American Agricultural Economics Association. Proposals for joint sessions with agricultural economics are encouraged.

 

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  • CSREES Contact: Jane Schuchardt, National Program Leader, CSREES-USDA

  • eXtension (pronounced ee-eXtension) Financial Security for All provides reliable, research-based, and up-to-date financial and consumer information, including learning lessons, fact sheets, and unbiased peer-reviewed answers to frequently asked questions. Consumers can access eXtension 24/7/365 on any Internet-ready device.
    Contact: Debra Pankow, family economics specialist, North Dakota State University, or go to eXtension.org and click on Personal Finance.

  • 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


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 t11/27/2007, 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: 11/27/2007