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Money Talk: Women's Financial Education Series

Gisele Jefferson, GPA Extension AgnetGisele Jefferson, Area Extension Agent - Golden Plains Area
Date: 2/10/2010
Questions? Contact Me

Money Talk: Women’s Financial Education Series is being offered in Fort Morgan this winter by Colorado State University Extension. The five-week educational series is designed for women wanting to invest time and effort to improve their financial well-being and that of their family.

Gisele Jefferson of Washington County Extension and Luann Boyer of Morgan County Extension are teaming up to bring this series to northeast Colorado. The classes will be held Thursday evenings beginning March 4, 2010 from 6:00 to 8:00 p.m. at the Morgan County Extension Center, 914 East Railroad Avenue in Fort Morgan.

During the five weeks, information and encouragement will be provided to participants to take action to improve their finances. Each person will receive a workbook including dozens of worksheets and activities to use right away.

Some of the information may be new and some review; but participants are sure to make some progress on advancing their personal finances. The five sessions will cover Financial Basics, Insurance Basics, Investing Basics, Investing for Retirement, and Planning for Future Life Events. Local resource persons will help present some of the information, in addition there will be small discussion groups, individual exercises and steps to do at home.

Some people may ask why there is a need for a personal finance course for women. After all, don’t men and women alike earn incomes, manage household expenses, purchase insurance, plan for retirement, and make saving and investment decisions? Of course, the answer is yes. Still, women (on average) do have several unique needs that impact their finances, both in the present and at retirement:

* Women live longer: the average life expectancy at age 60 is 83 for women and 78 for men. The average age of widowhood in the U.S. is 56.
* Women make less money: many women are in lower-paying skilled or unskilled jobs. Not only are their salaries lower, but so are their pensions and Social Security benefits. Many women also work for small employers, or in part-time jobs, where no pension plan is provided.
* Women leave the workforce more often: this is often associated with care-giving roles for children and/or adult parents. When earnings are interrupted so, too, are savings plans such as 401(k)s and pension vesting opportunities.
* Women suffer more monetarily from divorce and widowhood: women’s lifestyles are often more severely impacted than men’s due to lower earnings and/or custody of minor children.
* Women lack financial experience: this is changing, but some women still defer all financial management and decision-making to their spouse, partner, or adult children.

For more information or to register for the class, contact the Washington County Extension Office at 970-345-2287 or the Morgan County Extension Office at 970-542-3540. The class will cost $35 if registered by February 26th, and $45 after that date. To register, provide your name and contact information, and a check or cash for the class fees.


MONEY TALK SERIES SET FOR MARCH

Women often have unique financial needs. Statistics tell us that it is only a matter of time before 85% of all women will be on their own financially. Some never marry; some will see their marriages end in divorce and some will outlive their husbands. Of the elderly poor in America, more than 70 percent are women.

Women live longer on average than men, so their money has to last longer. They earn less on average than men do and they may have gaps in their employment history due to family care giving that will affect future retirement benefits. Some women rely on a spouse for income and are at risk for becoming a “displaced homemaker” if the relationship ends. Some women lack financial experience because “the man is supposed to handle the money.”

A class called Money Talk: A Financial Guide For Women, was developed to help women address these unique financial needs. Participants will learn smart money management skills and work through action steps to become a more informed manager of your money. The goal of the course is to educate and empower women to take control of their financial lives.

The class is offered this winter on Thursdays at the Morgan County Extension Center in Fort Morgan. The cost of $35 includes the 190-page Money Talk workbook. The sessions will cover financial basics, insurance, investing, retirement planning and planning for life events. CSU Extension education programs do not promote any product or company.

The course includes the 190-page Money Talk: A Financial Guide for Women workbook written by two Family Financial Education specialist from Rutgers Cooperative Extension. Simply reading the Money talk workbook will not change your financial situation. You will need to take action. That is why there are exercises included and at the end of each session, there is a list of Minimum Need to Knows. These are the most important facts covered in each lesson.

The class Money Talk For Women begins March 4 and runs through April 1st from 6-8 p.m. in the Morgan County Extension Center. Early-Bird registration ends February 26; space is limited. For more information contact Gisele Jefferson at 970-345-2287 at the Washington County Extension Office, or contact the Morgan County Extension Office at 970-542-3540.