Download - Financial Literacy Efforts - dhe.mo.gov
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Financial Literacy EffortsMore than a Postcard
© 2016 by The Curators of the University of Missouri, a public corporation
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Who is this guy?
Andrew Zumwalt
M.S. in Personal Financial Planning
CERTIFIED FINANCIAL PLANNER™
Assistant Extension Professor
573-884-1690
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Agenda
General Extension
Family Financial Education Specialists
Programming
Questions
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1862 Morrill Act
Rep. Justin Morrill (VT)
Land Grant Institutions
Focus on
• Agriculture
• Engineering
• Military science
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1890
Historically Black
Colleges and
Universities (HBCU)
Granted cash
1994
Tribal Colleges
Granted cash
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1890 Ag Experiment Station
1914 Smith Lever
1914 Smith Lever Act
Created the
Cooperative Extension
Service (CES)
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Spring 2016
Marshall Stewart hired
Vice Chancellor for Extension and Engagement
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Engagement
Focused on listening and partnering with other
orgs and government entities
Each county to have
County Engagement Specialist
State level communications (UAG)
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Family Financial Education Specialist
10 FFEs across the state
Masters level (CFE/FRM or related)
Experience as an Educator/Trainer
Proficiency in Personal Finance
Accredited Financial Counselor (AFC®)
CERTIFIED FINANCIAL PLANNER™ (CFP®)
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Why the history lesson?
Engagement
Win-win partnerships
Improve lives of Missourians
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Programming
• Missouri Taxpayer Education Initiative
(MoTax)
• Health Insurance Education Initiative
• Take Control of Your Finances
• How to Get an A in Retirement
• Making Money Count
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MoTax
• Leverages IRS Volunteer Income Tax
Assistance (VITA) program
• VITA
• IRS certified volunteers
• Efile, Direct Deposit
• Everything but inventory and depreciation
• 2003
• Free Tax Prep
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MoTax
• Build trust, then educate
• ~10,000 returns prepared
• ~$6.5 million refunds
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MoTax 2.0
Facilitated Self Assistance (FSA)
Individuals prepare their returns with volunteer
assistance
Responsibility shifted to client
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MU Extension
Online Training
Tax Law and Tech
Support
Capital Equipment
Partner
Location
Volunteers
Marketing
Management
MoTax 2.0
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Health Insurance Education Initiative
• Marketplace Education• Premium Tax Credits
• Shared Responsibility Payment
• General Health Insurance Literacy• Deductible
• Copay
• Premium vs Out of Pocket
• Who needs it?• Students, employees, independent contractors,
retirees, unemployed
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Take Control of Your Finances
• Partnership with Career Center or layoff at
large employer
• Nudges newly unemployed
• Health insurance?
• Cash out my retirement?
• Credit?
• Budget?
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How to Get an A in Retirement
• Online course
• 8 Weeks
• Focus on
• Finance (Social Security, Saving & Investing,
Estate Planning, Insurance, etc.)
• Well-being (Positive Psychology)
• Making informed decisions
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Making Money Count
Basic Personal Finance Curriculum
• Making decisions and communicating about money
• Spending plan
• Credit
• Consumer skills and contracts
• Record keeping and taxes
• Banking services
• Insurance
• Saving and Investing
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Making Money Count
Adapt for the audience
Show Me Healthy Relationships
Methodist Clergy
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Making Money Count
Education and Activities
The Bean Game
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It’s not about the money.
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Partnerships
• National Endowment for Financial Education
• High School Financial Planning Program
• Free!
• Office for Financial Success
• Student Money Management Center
@MU
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Smaller Programs
• Homebuyer education
• Estate planning
• Who Gets Grandma’s Yellow Pie Plate?
• Your Farm, Your Business, Your Future
• When Creditors are Predators
• SkillUP
• Small Steps to Health and Wealth
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WHEW!
By Iwtwb8 - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=26090075
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Engagement
Win-win for all partners
Improve the lives of Missourians
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http://bit.ly/MO-DHE-APRIL17(Case Sensitive)
Andrew Zumwalt
573-884-1690