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National Study Confirms Effectiveness of the High School Financial Planning Program

A recent 18-month national study shows that, as a result of participating in the NEFE High School Financial Planning Program® (HSFPP), 86% of high school students know more about managing their money. As a result of studying financial planning:

• 58% compare prices when shopping

• 54% set aside money for needs and wants

• 49% know more about the cost of credit

Beyond these significant changes, students continue to put the program concepts into practice. Even more impressive, three months after completing the program, students reported further increases in knowledge, skill, and confidence. This is an important benefit of the High School Financial Planning Program. Confidence is a critical factor in determining whether people believe they are capable of making changes and maintaining their new behaviors.

Three months later:

• 92% believe the way money is managed affects their future

• 84% feel confident in making financial decisions

• 58% changed spending habits

• 56% improved saving habits

After participation in the High School Financial Planning Program curriculum, students wrote:

• "I have been able to save the money to pay off over $305 in high school senior bills.  If I would not have had this program, I wouldn't be able to receive my high school diploma.  Thanks."

• "The most important thing that I've done with my money is saving it. I've always saved my money in the past, but now I understand how vital it is to have some money....even if I'm only a teenager. I'm glad I don't waste money anymore, and this program helped me see my priorities."

These are the major findings of a landmark evaluation undertaken jointly by the National Endowment for Financial Education and the United States Department of Agriculture Cooperative State Research, Education, and Extension Service, and participating Land-Grant University Cooperative Extension Services (USDA-CSREES).

The National Endowment is an independent nonprofit organization committed to educating Americans about personal finance and empowering them to make positive and sound decisions to reach financial goals. The Cooperative Extension System, a national education network established through legislation, is a partnership of the U.S. Department of Agriculture, state land-grant universities, and county governments. NEFE's and the Cooperative Extension System's programs are open to all citizens without regard to race, color, sex, handicap, religion, age, or national origin.

For More Information about the NEFE High School Financial Planning Program® in Kentucky, contact Dr. Robert Flashman, Extension Family Resource Management Specialist, (859) 257-7753 or the Family and Consumer Science Extension Agent in the County where you live.

Kentucky Ranks High in Enrollment!

According to the latest figures from NEFE, Kentucky's High School Financial Planning Program has the 13th largest enrollment in the country; a major accomplishment for a state with as small a high school population as Kentucky. One of our goals for next year is to crack the top ten.