Brightly colored scarecrows crowded by pumpkins, yummy pie recipes featured online, holiday lights displayed in local stores, it's that time of the year: the holidays are upon us! It can be a wonderful time of the year to catch up with friends and family, and enjoy the changing seasons. But with first Halloween, then Thanksgiving and winter holidays, all the way to celebrating the New Year, it can be a four month spending spree! How can we avoid spending more than we're comfortable with when...

To reach financial goals, like college or down payment on a home or a special trip, we need to save money. But it can be hard to start saving. One way strategy that works is to start small and to save regularly! And when I say, start small – I mean small. How much do you think you'd save in one year if you put: One penny in a piggy bank the first day Two pennies in the bank the second day Three pennies in the bank the third day Four pennies the next day … and...

Recently I heard an excellent presentation by Ella York, an attorney from the Illinois Attorney General's office. Identity theft is the #1 issue that is reported by consumers to the Illinois Attorney General's office. I appreciated Ms. York's well-thought out presentation and came away with several tips regarding protecting yourself from identity theft, and I thought you'd like to know them too! 1) If someone asks you for personal information on the phone, hang up on them!...

Money Smart Week is coming, April 18 to 25, 2015. It's the best time of year to learn anything you want about managing your finances. Why is it the best time? It's all free. There will likelyworkshops near you. Over a thousand programs will take place across Illinois. There are also programs in about 45 other states. And some events are offered online, so they're accessible anywhere. No sales spiels....

So far in this series we've talked about renting verses buying, credit, and finding a realtor. Today's blog post will be slightly more fun as we'll briefly talk about the pre-approval process and the house hunt!! The Pre-Approval Process Getting pre-approved is an important step in buying a house. It gives you a dollar amount that you shouldn't go over as well as shows potential buyers that you are serious when you look at their house. I thought getting pre-approved would take...

Last time I left you with the end of our house hunt! We found the home of our dreams and put in an offer, but I left out some important details that went into the process. In this post we'll be talking about the home inspection and other important home buying details! Price Point When deciding when to buy a home, especially when you go house hunting, you need to keep your monthly spending plan in mind. How much do you want to pay for your mortgage and how much can you actually...

Please welcome guest blogger, Tammy Greynolds from America Saves! Very few of us have money at the ready to cover an emergency, never mind the money for the larger purchases we'd like to make. This is why it's that much more important to prioritize savings to cover both the items you need as well as those you want. Whether you're saving for a new computer or a new-to-you car...

To save money in most retirement saving plans, you often need a minimum already saved to get started. Not the myRA offered my the US government. I think the low amount needed to start saving and the NO FEES are the best parts of the myRA, and making checking out this saving option worthwhile!Unfortunately, many people don't have access to an employer's retirement plan. In response, the U.S. Department of Treasury has created myRA (my Retirement Account) to help people...

There's a new tool you can use to help predict if the person you are dating is a good prospect for a long committed relationship. It is your credit score. It is one more reason to improve your credit report and keep it good. A recent study by the Federal Reserve Board looked at 12 million randomly selected consumers from the databases of the credit reporting bureau Equifax over 15 years. The results were...

After deciding whether to rent or become a homeowner, checking your credit and possibly fixing it, the next step you'll want to do is find a real estate agent! Just like any other advisor, you need to establish some rapport with them. Below are a few traits and other items you should look for in a realtor and questions to ask them if you're interviewing them. Experience and Knowledge Experience and knowledge are two things that are necessary for your future real estate agent!...

It's easier to make New Year Resolutions than to keep them! Let's take a look at some strategies to keep your financial resolutions on track. State the resolutions effectively. Research by behavioral economists suggests that how we frame our resolutions may affect how successful we are. We pay more attention to losses than gains. For example, someone might have a goal to pay down debt on a credit card. Calculating how much money this person loses each month from...

For the past several months, I've been writing about the financial decisions that young adults face. This month, I'm switching gears to talk about a different kind of transition that could happen at any point in your working years: leaving a job. Whether you're taking a new job, being laid off, or retiring, there are probably more financial decisions and ramifications than you might think. The most obvious one is managing the change in your income. How will you change your spending to adapt to...

I'd like to take a minute to toot our own horn. The writing team behind the Plan Well Retire Well blog just won two awards for Internet Education Communications from the National Extension Association of Family and Consumer Sciences (NEAFCS) at their annual conference held November 2-5, 2015 in White Sulfur Springs WV. We received first-place in the Central region which includes IL, IN, IA, KS, MI, MN, NB, ND, OH, SD, WI and first-place national honors . In receiving this honor...

It's back to school time and that means busy schedules for many families! Between juggling work, after school activities and sports, it can be challenging to provide healthy, low-cost meals for you and others. Making a weekly plan for meals is one way to gain control over your food budget, and avoid the temptation of eating out which tends to be more expensive. Typically in the US, people spend about 43% of their food dollars on food away from home. Here are steps to take to make a weekly plan...

One of the largest factors of purchasing a house comes down to your credit. What does it look like and will you be able to purchase a house with your history and score? People tend to focus on the score, and while it is important – the history is what creates the score. Together with my husband we tackled this credit question in the following few steps. Check your Credit History Before you begin talking to a realtor or mortgage lender, you...

Finding money in a tight budget to put towards savings is challenging. However, tax time may provide an opportunity to kick-off that saving goal! The first step is to check if you are eligible for any tax credits. The Earned Income Credit is designed for people who worked part-time or full-time in 2014 and had earned income less than about $48,000. The amount you can receive from this credit depends on your income and the number of children you have (although you can still...

It seems like only yesterday that we were saying goodbye as our students left for college, and now the semester is quickly winding up. As the students return home for the holidays, now is a good time to revisit financial plans. Spending plans (budgets) are working documents. After using a plan for awhile, it's important to evaluate and adjust it. This is true for everyone but especially for new college students who may be confronting many new spending decisions. Set aside some quiet...

I think that social media is costing us much money. Until a few days ago, I had never heard of a promposal. Granted I went to high school in the stone ages when boys awkwardly asked girls at their lockers to go to the prom. My children's experience was not far removed from that other than all the couples went as a big group rather than as individual couples. My son even waited until the night before prom to tell me he needed a suit for prom after I had been asking him for weeks about being...

Thanksgiving is a time where families and friends come together to be thankful for all that they have. However, one conversation you should consider having around your family dinner table is about death. Did she just say "death"? That's right, I said death. As much as an uncomfortable topic as it is, it's one you should be having with almost every family member you have. Whether it's with your grandparents, spouse, or siblings who have children under the age of...

To celebrate the upcoming America Saves Week, America Saves is launching the #imsavingfor contest. It's easy to enter. Just share a picture of you and what you are saving for and then enter to win $500 at AmericaSavesWeek.org/imsavingfor. Get creative with your pictures! You can take a picture in front of the item your saving for – like a...