Completed Project Report

Avoiding the Financial Risk of Being Crushed by Farm and Family Debt

  • Award Amount: $38,499
  • Regional Center: Northeast Extension Risk Management Education Center
  • Grant Program: 2007 Unrestricted Risk Management Education
  • Project Director:
  • Email: suzann.knight@unh.edu
  • Organization: University of New Hampshire Cooperative Extension

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Project Overview

Family spending plans are often an area of low priority for many farm families. As a result, family living expenses may occur that exceed the available income resulting in a conflict with the overall financial goals of the farm and of the family. The goal of this project was to motivate farm families to communicate within the family about family goals, budgeting, the impact of credit decisions, evaluate their debt load and prepare a debt repayment schedule through web-based education. Farm families are time crunched and it is hard for them to attend educational seminars. The result was that NH farm families will become more responsible for their financial security now and in later life and to reduce the risk of insolvency due to ineffective financial management techniques.

Number of Participants: 31

Outcomes

Project Steps

PROMOTIONAL MATERIALS

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EDUCATIONAL MATERIALS

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REPORTS & EVALUATIONS

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DELIVERY AREA

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