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Financial Security for All (Santa Fe County)
This county-level plan is managed by . Print this page to create a Plan of Work signature page.
Plan Goal
Increase money management knowledge and skills of Santa Fe County residents through the delivery of financial educational programs.
Situation Statement
The US Department of Commerce, Bureau of Economic Analysis reports that the 2001 average median household income for Santa Fe County equaled $36,948. Per capita personal income for 2002 equaled $32,932. The Santa Fe cost of living index equals 164% as compared to the national cost of living index of 102.7%. In addition the median home price for Santa Fe County equals $360,000 and a consistent unemployment rate of 3%-4% is documented for Santa Fe County.
Individuals and families living in Santa Fe County find it difficult to make ends meet "Too much month at the end of the money." Housing and food costs contribute to over 70% of living expenses. Families contribute the remaining income to childcare, medical, clothing and entertainment expenditures. Often forcing families into debt. Families need to be presented with information that will give them basic skills in setting financial goals and prioritizing their spending. Also, giving them information for establishing a savings plan to compensaste for those unplanned expenditures.
Resources:
1. NEFE High School Financial Planning Program
2. The Saving Series Package Program
3. Home of My Own Program Curriculum
4. Legally Secure Your Financial Future Curriculum
5. CreditSmart
6. Home of My Own
Target Audience and Actions
TARGET AUDIENCE
1. Santa Fe County Housing FSS participants
2. City of Santa Fe Housing FSS participants
3. Limited income audiences
4. I CAN Program participants
5. The general public
ACTION:
1. Conduct two financial information program series
consisting of eight sessions focusing on basic
money management for the City and County Family
Self Sufficiency Program participants and
limited income audiences.
2. Collaborate with community agencies in the delivery of
financial information for this identified audience.
3. Provide classes to I CAN Program participants
assisting them with information on preparing
a budget and providing them with information on
food buying, food storage and food preparation.
Short-Term Objectives
50% of program participants will establish at least one financial goal as a result of the class series.
50% of program participants will learn how to prepare a household budget.
100% of program participants will have access to their credit reports.
75% of program participants will learn how to read their credit report.
75% of program participants will learn one food shopping/buying skill.
Medium-Term Objectives
50% of program participants will make one financial change after one month.
50% of program participants will increase knowledge of credit cost and credit usage after two months.
50% of unemployed program participants will conduct job search effots.
10% of unemployed participants will locate employment after one month.
Long-Term Objectives
25% of program participants will establish a savings plan after six months.
25% of program participants will see a decrease in their annual food costs within six months.
25% of program participants will become more money wise in making buying decision for themselves and their families after six months.
Evaluation Plan
Knowledge gained will be evaluated through the use of scantron and program evaluations.