July 1996 Issue of AFCPE Newsletter

July 1996 Issue of AFCPE Newsletter

AFCPE Newsletter. Vol. 13, No. 3, July 1996

Table of Contents
1995 Conference Speaker:
Non-Traditional Families

Practitioner’s Corner

Consumer Credit Counseling Services
Extension Service

AFCPE Business

Annual Conference November 13-16, Grand Rapids, Michigan
… Keynote Speaker Chosen for November Conference

Author’s Corner
Book Review

Literature Review


Bulletin Board

Meet the Board


Sheila Clark Offers Counsel Concerning
Non-Traditional Families

(Summarized by Sharon Burns, 1995 AFCPE Annual Meeting Chair)

Columbus, Ohio attorney and CPA
Sheila Clark spoke at the 1995 conference
to an eager audience. Her topic concerned

the financial and legal issues surrounding
non-traditional families. Ms. Clark
identified several types of non-traditional
families including grandparent/grandchild,
single parent, and non-married couples.
Each type of non-traditional family
contains either different issues or different
aspects of different issues.

A common type of non-traditional
family is the adult relative and young
child family. These families are often
grandparents taking responsibility for
grandchildren or aunts and uncles caring
for sibling’s child. In either case, most
often the adult has no legal rights with
respect to education and medical decisions
for the child. To remedy this situation,
Ms. Clark suggests that durable power-of-attorney rights be placed with the
responsible adult care-giver. From the
adult’s position, his or her estate would
not pass to the child by most laws of
intestate succession. If the adult wishes to
provide funds for the long-term care of
the child, she may want to make sure her
will makes the child a beneficiary or sets
up a trust for the child’s funds.

Single parents often have difficulty in
obtaining a consensus or permission with
respect to a child’s education and medical
care also. In these matters, the other
parent may be unavailable or unwilling to
sign appropriate consent forms. The rights
and responsibilities of a single parent are
most often spelled out in a child custody
document or a divorce decree. If the other
parent of child is deceased, then the
remaining parent would have sole legal
rights and responsibilities.

Estate planning for single parents can be
sensitive. Trusts may be used to keep the
funds for children. Single parents will
need to be selective in the choice of a
trustee to manage and distribute the funds
to the children.

Non-married couples present special
situations. Day-to-day management
includes sharing living expenses, possibly
owning a home together, and partner’s
benefits rights. At the present time, non-married partners have few, if any,
financial rights with respect to the other
partner’s estate. In addition, if one partner
died without a will, most state laws would
require the property to be transferred to
the decedent’s parents, siblings, or
children. It is imperative that each partner
have a will or other appropriate estate
planning vehicles in place to affect an
orderly distribution of assets to the

It is not uncommon for adult children
to have financial or management
responsibility for their parents’ affairs. To
effect any authority, children who are
responsible for their parents financial
affairs should have a power-of-attorney.
In addition, if the child needs to make
health care decisions, he should also have
a medical power-of-attorney. If the adult
child is financially responsible for his
parents, he may also want to own
additional life insurance with his parent as
beneficiary, or organize his estate to
provide some funds to his parents in the
event of a premature death.

Consulting an attorney who specializes
in estates, probate issues, or
gerontological estate planning may be
wise in many cases.

Practitioner’s Forum

Consumer Credit
Counseling Services

Stages of Change Model:
Implications for Financial

The following five stages of
change will help a counselor identify
where clients are and have been. It
also helps counselors identify clients
who are not ready to make changes
and those who maybe gently led in a
change-oriented direction after
several sessions.

Stage 1. Pre-contemplation
(don’t want to change)
. These
people often are ordered by the
courts or coerced by creditors or
family to seek counseling. They may
be in a state of denial or not ready to
change. It can be a big challenge for
the counselor to move this client on
to the next stage.

If a person does not move from
the first stage (precontemplation) on
to the second stage (contemplation)
within sex weeks, chances are that
they are not ready to change. This is
helpful to know as counselors. It
reduces the chance of us working
harder to solve their problems than
they are. When they are ready, we
will be ready for them.

Stage 2. Contemplation
(thinking about change).
realize that they are having
difficulties and that something has to
be done. But they may be feeling
quite inadequate. It requires a lot of
sensitivity to the clients to get them
successfully through this stage. They
may be reluctant to admit that they
cannot manage their own personal
finances and consider asking for help
to be a sign of failure. To help move
clients into the third stage, the
counselor should focus on their
abilities and create a feeling of
confidence. This will usually take
place during the assessment

Clients should leave your office
feeling that they can make changes.

Stage 3. Preparation (focus on
skills and resources)
. Hopefully, this
stage is achieved by the second
interview. We, as counselors, can
build on these strengths and resources
and help them improve their skills to
bring about change (i.e., sound
decision-making, balancing their
budgets, staying on track, setting

Stage 4. Action (change
. At this stage, clients are
aware of their options and are clearer
about their position. They have been
offered information and given the
skills to make good decisions. The
choice may be for the counselor to
intervene on their behalf with a third
party or to go on an agency Debt
Management Program. They are
informed and ready to make the
necessary changes in order for their
program to work. Many clients move
to this stage quickly, but for some, it
can take up to 10-12 weeks.

Stage 5. Maintenance (change
maintained, and other changes
. This is the final stage in the
ongoing process and can be easily
determined by the client’s

Debbie Morand, Counselor, Credit
Counseling Services of Southwestern Ontario,
OACCS Connections 7(1), p6.

Extension Service

Money Management Education

Work is underway on the
“National Extension Money
Management Education Model.” Its
purpose is to articulate the core and
common ground of our financial
management educational programs
and related research. This work, a
part of the Extension Family
Development and Resource
Management (FDRM) Base Program,
will result in a companion document
to the popular National Extension
Parenting Education Model.

NNFR Adds Family Economics

Realizing the need to add
economics as a resiliency factor for
families, the National Network for
Family Resiliency (NNFR)
, a part of
the Children, Youth and Families
Initiative, has funded a Family
Economics Special Interest Group
(SIG). The first effort of the SIG will
be to develop a National Family
Economics Web site with linkages to
the NNFR Web site. The Web
address is expected to be available
for your use by early fall 1996.
Watch this newsletter for more

Note from Sherman Hanna: A prototype version of this web
page is currently available at
http://ehe.osu.edu/cts/osue/topic.htm Please check it out and send feedback, suggested useful web sites, corrections, etc.

NAPFA Conference

Extension county educators and
AFCPE members, Pat Brennan,
University of Maryland, and
Charlotte Crawford, University of
Illinois, represented the Cooperative
Extension System at the National
Association of Personal Financial
Advisors (NAPFA) conference in
Fort Worth in mid-May. For the last
two years, a task force of NAPFA
members and Extension educators has
worked to build linkages between the
two organizations. One effort has
been a slide/overhead presentation
called “Guide to Financial Planning
and Selecting a Planner” expected to
be available for use by mid-summer


Survivor Benefit Plan

A Spouses’s Perspective

“Retired pay STOPS when the
retiree dies.” If your spouse is
retiring from the military in the
future, be sure you understand the
above statement. The military
member’s earned pension that may be
used to support the retiree’s family
will stop when the retiree dies.

The Survivor Benefit Program,
SBP, can protect a sizeable portion of
the retiree’s pension for family

SBP can protect up to 55% of
retired pay for the retiree’s family
even after the retiree’s death. This
percentage is adjusted when the
spouse becomes eligible for social
security benefits at age 62. SBP
benefits will continue until the
spouse’s death or remarriage if it
occurs before age 55.

The decision to participate in
SBP must be made shortly
(approximately 45 days) before the
military member retires. This
decision cannot be changed after
retirement. It is not subject to
garnishment or attachment by
creditors. In some ways, SBP is more
secure than life insurance, savings
accounts or investments. SBP
provides a constant stream of income
as opposed to a lump sum benefit.

The spouse is also a major
participant in the decision to elect
coverage. If the service member
elects anything other than full SBP
coverage, the spouse has the right to
object to a decision affecting
entitlement to a government benefit.
The law applies to all U.S. pension
survivorship plans, not just SBP!

Keep in mind that SBP may or
not be a great deal.

Some advantages of SBP:

Reduces taxable income

U.S. government subsidizes about
40% of costs

Annual COLA

Not affected by age, health, sex, or
lifestyle-anyone can participate

Lifetime benefits for a disabled child

Remains out of reach of creditors
unlike savings, investments, and
some life insurance proceeds.

Some disadvantages of SBP:

SBP benefits are taxable

If spouse predeceases the service
member, premiums are not returned

Participation in the program cannot
be changed once enrolled with few

Automatic enrollment at full retired
pay level if no decision is made.

No cash value

No inheritance provision.

Spouses must become informed.
For more general information or a
“one on one” consultation, contact a
transition financial educator.

Anne Baumgartner, TAMP Financial Educator

NFSC Norfolk

AFCPE Business

Annual Conference

November 13-16

Grand Rapids, Michigan

Welcome to Grand Rapids. Come
enjoy our Michigan Hospitality. Meet
new friends and colleagues; network
with familiar friends and colleagues.

While you are in Grand Rapids
you may wish to explore The Gerald
Ford Presidential Museum just across
the river from the hotel, along the
pedestrian bridge. Close by is the
Riverfront Public Museum with
interactive exhibits on cultural and
natural history.

Keynote Speaker Chosen
for November Conference

The AFCPE Board of Directors
has invited DR. David G. Hall to
present the keynote address, “Who
Says Money Isn’t Sexy?” Dr. Hall
will offer insights about using sex
therapy techniques in financial
counseling and planning. He will talk
about the reluctance of clients to
discuss money issues and techniques
that encourage disclosure. The
ultimate goal is to provide more
satisfactory resolutions to clients’
money issues.

Two of our members suggested
Dr. Hall as a speaker. In addition, the
IAFP membership was very excited
about Dr. Hall’s presentation on the
subject at its Seattle meeting last
year. In fact, they have invited Dr.
Hall to present at their conference
again this year.

Dr. Hall is a lecturer,
teacher,consultant and therapist. He
holds a Ph.D from the University of
Michigan and serves as an Assistant
Clinical Professor in the Department
of Psychiatry, College of Human
Medicine, at Michigan State
University. He is a Board Certified
Sex Therapist.

The Board of Directors hopes
each of you will join us in Grand
Rapids for our annual conference.

Three General Session Speakers have been
confirmed. Watch your

mail for the 14th Annual
Conference Program and Registration

Ken Douglas, 1996 Convention Host

Sharon Burns, Conference Chair

Author’s Corner

Celvia Dixon, Getting on
Financial Track
. 27 p.curriculum
and 27 masters. Adapted from
Savings Series, by Michael Rupured.
Curriculum only, $4.50; Curriculum
and slides, $16.50. University of
Tennessee AES, Family Economics,
P.O. Box 11071, Knoxville, TN

Pat Tengel (1996). Managing
Your Money and Learning to Save
Cooperative Extension Service,
University of Maryland, College
Park, 20742. 6p.

Easy-to-read and beautifully
illustrated, the publication discusses
budgeting and savings basics for
families with low incomes.

Pamela Turner, Kansas State
University, developed a Web site on
family topics, including personal
family finance. The address is:


Once at the site, scroll through
the table of contents and click on
personal family finance. Her e-mail
is: turner@humec.ksu.edu.

Book Review

The Downsizing of America (1996).
New York: Times Books. $14
paperback, 356 p.

Written by reporters for “The
New York Times”, the book explores
the topic of unemployment from a
variety of angles – its effect on
individuals, companies, communities,
and the psyche of America. It is
recommended reading for all financial practitioners who provide

seminars or counseling services to
downsized workers. After reading
this book, you will feel the pain of
those who are profiled.

The book begins with a litany of
statistics. For example, more than 43
million U.S. jobs have been
eliminated since 1979, about 3
million per year. Since 1980, one-third of all households have watched
a family member lose a job. Nearly
40% more know of an unemployed
relative, friend, or neighbor. When
laid off workers find new
employment, 65% take a pay cut.
The result, according to the authors,
is “the most acute job insecurity since
the Depression.”

According to the Times editors,
and evidenced by various profiled
workers, apprehension about job
security has deeply affected the
country. Results include lowered self
esteem, community life (one laid off
worker felt that he had lost the
“requisite dignity” to participate in
civic activities), and chronic
insecurity. In addition, a guilt labeled
“survivor’s syndrome,” is prevalent
among workers that remain. Many
survivors are working longer hours
and taking less time off in an effort
to keep their jobs. A loss of trust and
loyalty and a “floating anger” are
common, as is increasing intolerance
of the poor by anxious middle and
upper income persons.

The book profiles employees of a
specific corporation (Chase
Manhattan Bank) and city (Dayton,
Ohio) impacted severely by
unemployment. Two individuals, a
$130,000 a year executive now
earning less than his wife’s $30,000,
and a $20 an hour machinist, now
earning half that amount, are
profiled. Both have seen their
emergency reserves dwindle and live
in terror of the present and the
future. “Middle-aged and dreaming
backwards” was how one of the
displaced workers described his life.

The book profiles changes in the
lives of the Bucknell College Class
of ’70, a microcosm of educated
baby boom professionals and changes
in their lives over the past quarter-
century. Another chapter discusses
the response of politicians to

Americans’ economic anxiety.
Postscripts from reporters who wrote
the Time articles upon which the
book is based, and sampling of
“letters to the editor” from
unemployed workers and “survivors”
complete the final section.

Two key messages from this
book: workers need to develop skills
and talents that they can take
anywhere and, if there was ever a
time for an adequate household
emergency fund, that time is now.
Perhaps this book will motivate
clients to do both.

Barbara O’Neill, Ph.D., CFP

Rutgers Cooperative Extension

Literature Review

Stat Smarts

Percentage of retirees receiving a
private pension-43%

Participation rate of workers
eligible to invest in a 401(k) plan-66%

Effective (not marginal) federal
income tax rate paid by U.S.
taxpayers in 1993-13.5%

Odds of investor missing the best
90 days of the stock market during
last 31 years-1 out of 10 followed by
210 zeros.

Percent of gains lost if an
investor missed best 90 days of the
stock market in the last 31 years-95%

Percentage of Boomers who have
saved less than $10,000 for

Average annual return of 199 no-load growth mutual funds, 1989-94-12%; average annual return for
investors in the funds, 2%. Investors
stayed in the market an average of 21
months-getting in too late and getting
out too early. Agricultural economists
call this “being an inner and an

In a survey by the Employee Benefit
Research Institute-

-45% thought bonds out performed
stocks the past 20 years

-44% thought the chances of losing
money in a diversified stock portfolio
went up, not down, over time.

-62% though their company stock
was less volatile than a diversified
portfolio of stocks

-58% didn’t know that a man retiring
at age 65 is expected to live to age
80 (most thought he would die

Journal of Financial Planning,

February, 1996, p 11-14.

Wang. P. (1996, June). How you
can retire with more than $1 million.
Money, 94-131.

Contains a series of articles on
401(k) plans from opening an
account to judicious withdrawal
strategies during retirement.

How to make the most of your

Score great returns

Get your money out of the plan

Profiles: saving hard

Time to pony up

Five steps to earning great returns on
your 401(k)

Reeling in half a million

Protect your 401(k) from error and

How to get your money back (getting
your money out during your work
life and after retirement).

Despite the “get rich quick” titles
these articles provide solid
information about 401(k) plans.

The Coincident Indicators
and Real GDP

When analysts want a monthly
measure of economic output, they
often use the Index of Industrial
Production prepared by the Federal
Reserve Board of Governors. Heavily
weighted to manufacturing, the index
captures cyclical movements, but
exaggerates the size of fluctuations in
the overall economy.

The Index of Coincident
Indicators often appears in charts
with the Real GDP (Gross Domestic
Product). Its advantage is that it
closely matches the timing of cyclical
movements, but does not exaggerate
the size of fluctuations in the overall

A less familiar index, the Index
of Coincident Indicators, published
by the Conference Board provides a
broader measure of fluctuations in
economic activity. The composite
index was constructed to match
turning points in the business cycle.

The Coincident Indicators include
four components: index of industrial
production, the number of employees
on nonagricultural payrolls, personal
income less transfer payments in
constant dollars and manufacturing
and trade sales in constant dollars.

William T. Gavin (1996,May). National
Economic Trends-FRBSt. Louis
, 1.


Money (magazine) Forecast 1994
(p.75) has excellent comparison chart
for retirement plans: “How the plans
stack up” which compares IRAs,
annunites, 401(k), 403 (b) etc. plans
on different features. Just one page-it’s a great teaching resource.

Wilke, J. (1996, May 16).
Treasury plans to sell inflation-indexed bonds. The Wall Street
, C 1.

“The treasury plans to offer for
the first time securities that protect
investors from inflation, incises small
enough for consumers to salt away
for college tuition or retirement.”

Stay tuned to WSJ for details on
inflation-indexed bonds.


Electronic Connections

Bank Rate Monitor-

Insurance Yellow Pages

SEC corporate filings


Clements, J. (1995, October 31).
A brief guide to investing for
retirement. The Wall Street Journal,
C 1. a comprehensive 800 word

Vernon Hoven (1996). The Real
Estate Investor’s Guide (2nd
Dearborn Financial
Publishing, Inc., 155 N. Wacker
Drive, Chicago, IL 60606-1719. 312
pages. $27.95.

Organized around five basic
themes–taxation at time of sale, like-kind exchanges, tax solutions at time
of purchase and during ownership,
passive loss rules, cancellation of
debt, bankruptcy and repossessions.
The author presents a readable
account of the rules and complexities.
Case studies, illustrations, planning
tips help the reader find the items of
highest interest.

William F. Eng (1996). Trading
Rules II: More Strategies for
Dearborn Financial
Publishing, Inc., 155 N. Wacker
Drive, Chicago, IL 60606-1719. 304
pages. $29.95.

Fifty rules for trading in the
financial markets are given by an
experienced professional trader. Eng
offers an insider’s perspective on
topics of interest to every trader
including–how market manipulators
play on established rules of
speculation, what to do when
encountering losses, opportunities in
arbitrage plays, strategies of hedging
and trading counter trend.

The Dow Jones Guide to the
World Stock Market (1996
By the Editors of Dow
Jones & Company. Prentice Hall,
Englewood Cliffs, NJ 07632. 761
pages. $34.95.

Supplies global investors with
vital information they need to
understand if they want to hold
international investments. Profiles
2700 companies in 29 countries
including financial performance data,
economic particulars. Alphabetical
and industry indexes.

Robin Leonard & Stephen Elias
(1996). Nolo’s Pocket Guide to
Family Law.
Nolo Press, 950 Parker
St., Berkeley, CA 94710. 208 pages.

Both a dictionary and a quick
reference, helps persons understand
the legal terms that apply to intact
family and divorce situations. Topics
discussed range from court
procedures to child support, custody
and visitation to living together,
unmarried couples, reproductive
rights and technology, property and
debts. Index. Appendices.

Joseph L. Matthews (1996).
Social Security, Medicare and
Pensions: Get the Most Out of
Your Retirement and Medical
Nolo Press, 950 Parker St.,
Berkeley, CA 94710. 288 pages.

The 15 chapters cover the latest
information on Social Security,
Medicare and pensions, including
chapters on civil service retirement
and veterans benefits. Discusses how
to estimate benefits, filing claims and
appealing them if they are denied,
handling each step of the process,
how to get help, and how to get the
most comprehensive medical
coverage. Good starting point for a
comprehensive treatment of these

Denis Clifford (1996). Make
Your Own Living Trust.
Nolo Press,
950 Parker St., Berkeley, CA 94710.
336 pages. $21.95.

Provides all forms and
instructions for making a basic living
trust for yourself or the marital life
estate trust (AB trust), for estates
worth $600,000 to $1,200,000. After
discussing the particulars of setting
up living trusts, there are discussions
on choosing beneficiaries, trustees,
choosing property for the trust and
how to transfer title to the trust, what
to do after a grantor dies, back-up
wills, and issues associated with
property left to minor children or
young adults.

Fred Steingold & Nolo Editors
(1996). Small Business Legal Pro
(2nd version).
Nolo Press, 950
Parker St., Berkeley, CA 94710.
$39.95. Software- PC: 2 MB RAM.
Windows 3.1 or higher. Hard disk
required. Macintosh: 2 MB RAM.
System 6.0.7 or higher. Hard disk
and high density floppy disk drive

In this electronic book, are the
basics from starting and running a
small business and choosing the best
structure for your business to
negotiating a favorable lease.
Included in this version are the basics
of the limited liability company and
a discussion of managing business
debt with or without resorting to
bankruptcy. Includes 20 business
letters and sample legal forms.
Random-access text searching, key
word index, multi-level table of
contents and hyper text links makes
this a user-friendly program.

Barbara Kate Repa, Stephen
Elias, Ralph Warner (1996).
WillMaker6. Nolo Press, 950 Parker
St., Berkeley, CA 94710. $39.95.
Software- PC: 4 MB RAM. Windows
3.1 or higher. Hard disk required..
Macintosh: 2 MB RAM. System
6.0.7 or higher. Hard disk and high
density floppy disk drive required.

A user-friendly, popular
interactive program to create a legal
property will, living will, and final
arrangements. An extensive user’s
guide and legal guide included with

Federal Reserve Bank of
Atlanta.(1996). Partners. A software

program for MS Windows 3.1 or
higher, 486 CPU (386 will run
slower), 2MB. Originally designed
as a learning tool and development
aid for bankers, community groups,
government agencies and other
community development practitioners
interested in providing home
purchase loans to low- and moderate-income persons, it is now available to
consumers. Helps determine loan
eligibility. Contains loan amortization
schedules, equity build-up
calculations, secondary market
considerations. Offers 10 potential
loan qualifying techniques, from self-help actions to loan subsidies or
grants, to help qualify applications.
Free. To order call the Federal
Reserve Banks’ Community Affairs
Offices or try the web:

Investment Basics . . . by
Kansas State Extension family
economist Joyce Jones. The six
publications series is designed to
provide the beginning investor with
basic information, covers getting

started, financial institution deposits,
government securities, stocks, bonds,
mutual funds, and choosing an
investment adviser. For a free copy
of the six publications, contact Joyce
at e-mail:jejones@ksuvm.ksu.edu,

fax: 913-532-6969, or phone: 913-532-5773. Or you can access the
information on the WWW at the

following address:

Bulletin Board

Congratulations to Linda Kirk
, University of Idaho, and Louise
, Washington State University.
They received the Dean Don Felker
Financial Management Award during
the Annual meeting of the National
Extension Association of Family and
Consumer Sciences last October for
developing outstanding educational

program “Enhancing the Financial
Literacy of Older Youth.”

Congratulations to Craig
and Douglas Moore,
University of Missouri, authors of “A
Comparative Study of Mutual Fund
Risk Evaluation Measures.” They

received a cash award from the
Board of Examiners, Certified
Financial Planners Board of

The Certified Financial Planner Board of Standards, Denver,
CO, as a new toll-free umber, 1-888-CFP-MARK, to make it
easier for consumers to learn if their financial planner is currently
licensed with the CFP Board, whether any public disciplinary
action has been taken against him or her by the Boards, and to
take complaints from consumers who believe a planner has acted
CFP Board Web Site: http://www.cfp-board.org/

Call for refereed papers for the Western Region Home
Management-Family Economics meeting October 20, 21, and 22nd
in Missoula, Montana (big sky country). Due July 15 to Barbara
Rowe, 1262 Matthews Hall, West Lafayette, IN 47907-1262.

For more information call (317)494-8316, FAX (317)494-0869 or

e-mail at browe@cc.purdue.edu.

Web Addresses

Attention techies and others with e-mail/internet access. Please
include e-mail addresses with submissions. Look for AFCPE
information, including the Newsletter on the WEB.

AFCPE Web Address


Note: if you forget this address, just do a search in Alta Vista or other web search engine for afcpe.

E-mail Addresses

Newsletter Editor

Executive Director, Ruth Helein

Meet Some More AFCPE Board Members

Grady Cash, Board Member

M.Ed., Educational Psychology, Wayne State Univ.; B.S., US Air Force Academy.

Director, Center for Financial Well-Being, Sacramento, California

Certifications: CFP

Best part of job: Speaking to interested audiences (give workshops on a values-based approach
to personal finance, I developed).

Best financial decision: Regular contributions to retirement plan

Worst financial boner: Bought old clunker car to save money; wound up paying more than the
cost of car in repairs!

When I relax: serious runner (30-40 miles per week)

Judith Cohart, Board Member

J.D., Catholic University and member of D.C. Bar; M.A. Teaching/History, Yale; B.A.,
Government, Cornell.

Director of Education/Training, National Foundation for Consumer Credit.

I’m from: Northeast

Best part of job: Educating the public that learning how to manage money is as important as
learning how to read.

Nancy Porter, Treasurer

Ph.D., Family Resource Management, Virginia Tech; B.S. & M.S., Home Economics Education,
Mansfield University, Pennsylvania.Family Resource Management Specialist, Clemson
University Cooperative Extension Service.

Certifications: CFCS

I’m from: Northeastern Pennsylvania

Best part of job: Travel the state to give presentations on the benefits of successful financial

Best financial decision: Became an educated consumer– of all goods, services from cars to
clothes to houses.

Worst financial boner: Overused my credit cards while in graduate school.

When I relax: Read a book that has absolutely no educational value whatsoever!

Flora Williams, Past-President

Ph.D., M.S., Purdue University; B.S., Manchester College. Associate Professor, Family and
Consumer Economics, Purdue; Leona Financial Consulting.

Certifications: AFC, R.I.A., Licensed Insurance Agent.

Best financial decision: Marrying a conservative, kind, and frugal man.

Worst financial boner: Spoiling my three children

When I relax: Play music on organ or piano, singing, gardening

The Association for Financial Counseling and Planning
Education (AFCPE) was established to promote education,
research, and service in personal financial management. The
AFCPE, governed by elected officers and directors, is a
non-partisan, non-profit, incorporated professional
organization of academicians and practitioners.

AFCPE serves professionals through. . .

the promotion of the education and training of
professionals in financial management.

the administration of the national Accredited Financial
Counselor (AFC) program.

the dissemination of scholarly research findings,
procedures, and applications related to financial
counseling and planning education.

the active participation in educating individuals and
families in all areas of personal finance and counseling

a forum for the discussion of curriculum models used in
educating financial counselors and planners.

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