In the past several months, many people have endured some type of loss due to COVID-19. A situation that many, particularly college students, have found themselves to be in is unemployment. Fortunately, Congress passed the CARES Act to provide relief to those who faced financial difficulties...
As counterintuitive as it may sound, offering 5% cash back on goods users purchase actually increases a credit card company’s profit margin. The reasoning behind this lies within how credit card companies generate money. (Sometimes a bank or credit union issues the credit card). First, by offering...
There are pros and cons to both choices, as each can affect your overall finances and credit score.
Advantages of paying the entire balance at once include not paying interest fees, not maxing out on your credit card’s limit and the decrease of your credit utilization ratio. The credit utilization...
Choosing to continue with education beyond a Bachelor’s degree is a huge investment. Even after researching the tuition and fees of potential programs, there are other hidden costs that can be unexpected and add up quickly. Here are some hidden fees to know about especially when considering...
Credit cards are a helpful tool that can build your credit history, allow you to make purchases that can be paid off over time, and save you from fidgeting around with cash at the register. When applying for a credit card however, it is important to keep in mind that some cards may better suit your...
Approaching this question first requires you to determine your critical expenses. Everyone’s critical expenses are subject to variability, but some broad categories would include housing, food, health care, utilities, transportation, and any debt you may have. You should not include anything you’d...
Who doesn’t love that feeling when a big chunk of change hits your bank account? You think, “What can I buy with that?” and start fantasizing about all the goodies you’ve had your eye on. But, hold on, before you burn through that cash, let’s think for a minute about what else you can do with your...
When each semester begins, the bookstore is crowded with students. I used to be among these people but later I realized that it was financially unwise to buy all my textbooks from the bookstore. Have you ever had the same feeling? Have you ever spent hundreds of dollars buying textbooks and wanted...
Traditional college students complete their college education during their “emerging adulthood” years, usually between the ages of 18 and 24. During this time, college students are facing assignments, experiencing the residence hall lifestyle, and, ideally, carefree of “adult” responsibilities....
We've been talking about how to avoid financial exploitation this week at Illinois Extension! For more details, click over to the Plan Well, Retire Well blog.
Join in the fun! Illinois Extension is hosting a 5-week social media campaign, Financial Wellness Checkup. During Financial Wellness Checkup, enjoy practical tips and personal finance resources.
The campaign will be live July 6 through August 10. There is a new theme each week:
Create a Credit...
Milktea drinks taste so good. Just thinking about the creamy milk, the refreshing tea flavor and the chewy Bobas might have already made you want to grab a cup. Or, perhaps it’s the aroma of coffee that tempts you!
However, have you ever thought about how much the daily store-bought drink costs...
Before understanding how often you should check your credit score, it’s important to note the differences between a credit score and a credit report. A credit report refers to a detailed report of your personal information and payment history prepared by the credit bureaus. A credit score is a...
Subscription services are becoming very popular in society and almost everyone has at least one subscription service they use frequently. Subscription services can range from beauty supplies, to television and movie platforms, and food delivery. There is no need to have every subscription service...
Unplanned expenses often come at times when we'd least expect. Throughout our everyday lives, things are always happening. Cars need maintenance, we get sick, something in the house may need to get fixed, etc. There are so many things that can be encountered when it comes to having to spend money...
Nowadays, financial institutions offer all kinds of credit cards that have different features. It is important to understand each type of credit card to determine the type of credit card that best suits your needs. There are five major categories of credit cards: balance transfer, low-interest,...
