Family Economics News - December/January 2005-06

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.

CSREES Contact:
Jane Schuchardt, National Program Leader, CSREES-USDA
jschuchardt@csrees.usda.gov
Web site: http://www.csrees.usda.gov/financialsecurity

National Initiative “Financial Security in Later Life” Contact:
Nancy M. Porter, Family Resource Management Specialist,
Clemson University
nporter@clemson.edu

Financial Literacy for Youth Contact:
Erica Tobe, Program Leader for Financial Literacy & Housing,
Michigan State University
tobee@msu.edu

Financial Literacy for All eXtension Contact:
Debra Pankow, Family Economics Specialist,
North Dakota State University
dpankow@ndsuext.nodak.edu

Back issues of FENEWS are available at http://www.csrees.usda.gov/newsroom/newsletters/familyeconnews/familyeconnews.html

RESEARCH/PROGRAM EVALUATION

1) NCCC052 Research Priorities
2) Household Wealth and Regional Economic Well-Being

EDUCATION/EXTENSION

1) America Saves Highlights Extension
2) Focus on Youth, Money Matters Newsletter

RESOURCES

1) Retirement Security Project
2) Asset Building
3) Updated Ballpark E$timate
4) SMART ABOUT MONEY

OPPORTUNITIES

1) Call for Papers:

Journal of Family and Economic Issues
Journal of Personal Finance
Journal of Youth Development
Journal of American Culture
Eastern Family Economics and Resource Management Association
Association for Financial Counseling and Planning Education (AFCPE)

2) Funding:

Risk Management Centers
TIAA-CREF Institute
NRI - Nutrition and Obesity
FDIC – Center for Financial Research
NASD Investor Education Foundation
Assets for Independence

CALENDAR

DISCLAIMER

R E S E A R C H / P R O G R A M E V A L U A T I O N

1) NCCC052 Emphasizes Research Priorities

During its fall 2005 meeting, the Family Economics Research Coordinating Committee (NCCC052, formerly NCR-52) set research priorities for multistate and national work on emerging issues relevant to the economic well-being of families. The priorities are financial security, especially the relationship between economically secure families and prosperous communities; economic vulnerability in times of disaster; and the linkages among financial management, food insecurity, and health. The purpose of the committee is to improve the rigor of research, measure and communicate impacts, develop partnerships and grant writing skills, and disseminate research findings to educators and policymakers. For details, go to the minutes of the committee meeting at: http://www.lgu.umd.edu/lgu_v2/pages/reportMeet/388_min.doc.

2) Household Wealth and Regional Economic Well-being

Household wealth, together with annual flow of income, is closely related to a region’s long-run economic health, according to a recent edition of "The Main Street Economist," prepared by the Center for the Study of Rural America, Federal Reserve Bank of Kansas City. Wealth represents the pool of savings and other funds available to capitalize new and existing business and creates stability in consumer demand. Wealth generally is defined by residential real estate, agricultural real estate, and financial investments in the stock market and rental real estate. Maps in the issue titled, “Regional Asset Indicators: The Wealth of Regions,” found at http://www.kansascityfed.org/ruralcenter show the density level of household wealth across the Nation.

E D U C A T I O N / E X T E N S I O N

1) American Saver Highlights Extension

The fall issue of the American Saver newsletter highlights Extension's work with the America Saves Campaign. The American Saver is a newsletter published by America Saves, a nationwide campaign to help low to moderate-income individuals and families save and build wealth. To see the newsletter, go to: http://www.americasaves.org/back_page/Fall2005.pdf. For an Extension impact report on America Saves, go to: http://www.csrees.usda.gov/financialsecurity and click on Selected Results and Impacts.

2) Focus on Youth, Money Matters Newsletter

Focus on Youth, Money Matters is a quarterly newsletter published by the Center for Personal Financial Education, an educational resource and research center at the University of Rhode Island. The Center’s mission is to advance the adoption of sound personal financial practices by developing and delivering personal financial education programs and conducting related research. The Center produces and provides an array of integrated, coordinated outreach programs and services. These programs and services are designed for diverse audiences and delivered through schools, at community sites, in the workplace, and through mass media. This newsletter is designed to provide news about the NEFE® High School Financial Planning Program, information about new financial literacy teaching resources and events, and updates on research related to teens and money. To see the newsletter, go to: http://www.uri.edu/hss/hdf/gff/highschool/index.html.

R E S O U R C E S

1) Retirement Security Project

The Retirement Security Project works on a nonpartisan basis to make it easier and increase incentives for middle-and lower-income Americans to save for a financially secure retirement. Supported by The PEW Charitable Trusts, in partnership with Georgetown University's Public Policy Institute and the Brookings Institution, this project is dedicated to promoting common sense solutions to improve the retirement prospects of millions of American workers. Go to http://www.retirementsecurityproject.org for more information.

2) Asset Building

A web site on asset building highlights public policy and private sector efforts to enable persons with limited financial resources to accumulate and preserve long-term, productive assets. These assets include savings, investments, a home, post-secondary education and training, a small business, and a nest-egg for retirement. To learn more, go to: http://www.assetbuilding.org/assetbuilding. Visit the "sign-up” section to receive periodic e-mail updates.

3) Updated Ballpark E$timate

The popular "Ballpark E$timate," sponsored by ChoosetoSave.org and the American Savings Education Council (ASEC), programs of the nonpartisan Employee Benefit Research Institute (EBRI), has been updated. The two-page worksheet provides a quick look at how much you need to save to fund a comfortable retirement. The "Ballpark E$timate" takes complicated issues, such as projected Social Security benefits and earnings assumptions on savings, and turns them into language and mathematics that are easy to understand. The updated "Ballpark E$timate" is available in two formats: an online version that provides instant results, and a printed version that can be downloaded from the Internet and used with students or Extension audiences. To learn more, go to: http://www.choosetosave.org/ballpark/.

4) Smart About Money

Smart About Money is a national financial literacy campaign sponsored by the National Endowment for Financial Education® (NEFE). NEFE is dedicated to helping all Americans acquire the information and gain the skills necessary to take control of their personal finances. Under the tag line, “Not If We Can Help It,” the campaign targets Americans at some of the most critical moments of their lives. To learn about this new program, go to http://www.smartaboutmoney.org/ and click on "Press Room."

Journal of Family and Economic Issues. An invitation to submit original empirical or theoretical research papers relevant to consumer finances. Deadline for submissions is February 1, 2006. Contact so-hyun.joo@ttu.edu.

Journal of Personal Finance. For guidelines, go to: http://www.ksu.edu/ipfp/journal_callforpapers.html.

The Journal of Youth Development: Bridging Research and Practice. For guidelines visit: http://www.nae4ha.org/profdev/joyd/index.html. Contact Patricia Dawson with questions at Patricia.dawson@oregonstate.edu.

The Journal of American Culture – special issue on consumer culture. Focuses on elements of American consumer culture and links to major developments in American life. Deadline for submissions is December 31, 2005. For more information, contact Monroe Friedman at mfriedman@emich.edu.

Eastern Family Economics and Resource Management Association Conference, February 23-25, 2006, in Knoxville, TN. Submissions deadline for refereed posters and for research in progress/programs in construction is December 5, 2005. For submission guidelines, contact bcude@uga.edu.

Association for Financial Counseling and Planning Education (AFCPE), November 15-17, 2006, in San Antonio, TX. Deadline for submissions is June 1, 2006. For submission guidelines, go to http://www.afcpe.org/doc/Invitation%20to%20Present.pdf.

2) FUNDING:

Risk Management Centers

The Western Center for Risk Management Education, together with the Northeast, North Central and Southern centers is accepting applications for projects that help farm and ranch families succeed through targeted risk management strategies. Strategies relevant for family economists include retirement, succession, and estate planning. The pre-proposal deadline is December 15, 2005. For guidelines go to: http://westRME.wsu.edu/ and select "Available Grant Funding."

TIAA-CREF Institute

The TIAA-CREF Institute recently released results of the Retirement Confidence Survey of College and University Faculty (http://www.tiaa-crefinstitute.org/research/trends/docs/tr103105.pdf). The survey explored the retirement planning and saving behavior of higher education faculty, as well as their attitudes about their own preparations and about other retirement-related issues. The Institute is now making this data available to interested researchers under a special grant program. Accepted proposals will be given access to the data and receive $5,000. Deadline for submissions is December 31, 2005. Interested parties can receive a copy of the RFP by contacting Paul Yakoboski at pyakoboski@tiaa-cref.org.

NRI - Nutrition and Obesity

The 2006 CSREES National Research Initiative (NRI) includes a call for proposals on Human Nutrition and Obesity. Interdisciplinary efforts to better understand behaviors associated with lifestyle choices leading to optimum health and weight, including a household’s propensity to save, are encouraged. The proposal deadline is June 15, 2006. For more information, go to:

http://www.csrees.usda.gov/fo/humannutritionobesitynri.html

FDIC - Center for Financial Research

The FDIC's Center for Financial Research (CFR)is funding selected research proposals related to consumer behavior and financial decision making processes. Submission deadline is January 15, 2006. For submission guidelines, go to: http://www.fdic.gov/bank/analytical/cfr/apr_2006/call_06_index.html

NASD Investor Education Foundation

The Securities and Exchange Commission has announced that the Honorable William H. Pauley III, United States District Judge for the Southern District of New York, has approved the Commission's revised plan to fund investor education initiatives nationwide. Judge Pauley issued an order that enables the nonprofit NASD Investor Education Foundation to distribute the entire $55 million set aside for investor education. The funding resulted from settlements with twelve investment banks to resolve analyst conflict of interest charges. To find out more, go to: http://www.sec.gov/news/press/2005-124.htm. To learn more about the ongoing NASD Investor Education funding program and when 2006 funds will be available, go to: http://www.nasdfoundation.org/.

Assets for Independence (AFI) is a federal grant program that enables community-based nonprofits and state, local, and tribal government agencies to implement and demonstrate an asset-based approach for giving low-income families help out of poverty. AFI is administered by the Office of Community Services (OCS), U.S. Department of Health and Human Services, Administration for Children and Families. OCS offers 5-year AFI Project grants. To find out more, go to: http://www.acf.hhs.gov/assetbuilding/assets.html.

C A L E N D A R

National Urban Symposium: Youth and Family Wellness, December 7-9, 2005, Dallas, TX. http://urbansymposium.tamu.edu.

White House Conference on Aging, Washington, DC, December 11-14, 2005. http://www.whcoa.gov/

2006

Eastern Family Economics and Resource Management Association Biennial Conference, Knoxville, TN, February 23-25, 2006. http://www.eferma.org

51st Annual American Council on Consumer Interests (ACCI) Conference, Baltimore, MD, March 15-18, 2006. http://www.consumerinterests.org

Personal Finance Seminar for Professionals, Columbia, MD, May 22-24, 2006. Contact Jinhee Kim at jinkim@umd.edu

FDIC's Center for Financial Research (CFR), Washington, DC, October 26-27, 2006. Information will be posted on: http://www.fdic.gov/bank/analytical/cfr/index.html. Click on the "Events Calendar."

23rd Annual Association for Financial Counseling and Planning Education (AFCPE) annual conference, San Antonio, TX, November 15-17, 2006. http://www.afcpe.org.

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