Does the clutter in your house cause you stress? Is the clutter a cause for conflict with other family members? Do you want less clutter but you are too overwhelmed to begin? No one goes through life without accumulating stuff, but many of us struggle to keep up with the clutter in our lives. Over time, people accumulate unused and unnecessary items, cluttering their homes, garages, and basements.  In this episode, Personal Finance expert Kathy Sweedler and Chelsea Byers, Family Life Educator...

The last few years have seen an increase in the percentage of self-employed according to a recent report from the St. Louis Federal Reserve Bank. As of February 2022, self-employed workers made up almost 11% of employed workers in the U.S. Are you looking for an opportunity for self-employment while doing something you enjoy? Cottage Food might be just what you are looking for, and Illinois Extension has excellent resources about Cottage Food Law that may benefit you or someone you know.  In...

According to the National Disability Institute (NDI), individuals with disabilities who are Black, Indigenous, or Latinx have 28% to 36% higher poverty rates. They are also less likely to be able to save for unexpected expenses compared to their White counterparts. This data speaks to the importance for all individuals and businesses to have access to affordable financial resources and services that meet their needs. In this episode, Extension Assistant Director of Diversity, Equity, Inclusion...

As a consumer, you have likely felt the impact of inflation on your wallet, but have you considered how inflation can affect your credit? Costs of various products have gone up, along with interest rates. According to the Consumer Financial Protection Bureau, Consumer Price Index (CPI) for used cars and trucks has increased 40% since January 2021, 12% for new cars, and the average auto loan interest rate for borrowers with a poor credit history is now between 9 and 20 percent annually. In this...

According to data from the Supplemental Fraud Survey (2021), an estimated 3 million American adults reported being victims of personal finance fraud during a 12-month period and lost more than $3.2 billion total. Furthermore, it is equally important to acknowledge that more than half of financial fraud victims also reported experiencing socioemotional problems due to the incident. In this episode, Extension Educator Camaya Wallace Bechard and Kathy Sweedler discuss the effects of financial...

Did you know that 32% of U.S. households do not have enough money saved to cover a $400 emergency expense? Maybe the needs in your household are constantly changing, you and your partner don't always agree on how to spend your money, or you aren't sure how to start a savings plan; there can be many barriers that get in the way of saving. In this episode, Extension Educator Camaya Wallace Bechard and Kathy Sweedler discuss barriers associated with short-term and long-term savings goals, share...

When I first started using credit, it was exciting and intriguing to learn how I could build and improve my credit over time. At that time, I never thought about how my personal characteristics (e.g., age, accent/nationality, race, gender, etc.) could be used against me. I became interested in fair access to credit several years ago when I started paying closer attention to federal and state guidelines for obtaining credit. Fair credit and credit discrimination Unfortunately,...

When it comes to creating saving goals, we often think of big-ticket items such as saving for a down payment on a house, education, car, retirement, and emergencies. Saving for fun goals such as a vacation/travel or a concert may not always be front and center. In this episode of Family Financial Feuds, Camaya Wallace Bechard and Kathy Sweedler discuss what travel means to them and look back on some of their own memorable travel experiences. Camaya and Kathy also explore top motivations and...

In a world where teens face so many challenges and opportunities, how can we help make sure they learn effective money management skills? To begin answering this question, it is essential to consider what socialization factors could influence teens’ financial knowledge. In this episode of Family Financial Feuds, Camaya Wallace Bechard and Kathy Sweedler explore some of the purposeful and unintentional socialization processes that might be affecting our teens. Camaya and Kathy also discuss teen...

In March, we celebrated and honored Women’s History Month on the Family Financial Feuds podcast! We discussed some of the myths about women and money. We also provided information on women’s longstanding and meaningful relationship with money. To hear our conversation about women’s earnings, savings, and money management strategies. Listen on SoundCloud!

Did you know that approximately 20 million workers left their jobs between May and September 2021? Employment changes are one of the many examples of life transitions that affect people’s finances. In this episode of Family Financial Feuds, Sasha Grabenstetter led a timely...

When I got my first credit card many years ago, I thought I was ready for all the responsibilities that came with managing this type of credit. Even though I did my due diligence to research the card company and believed I could afford to make my monthly payments, there were a lot of things I didn’t consider. I didn’t realize how having a balance close to my limit would affect my credit score. When I no longer wanted to have credit through that company, I also didn’t think through my rushed...

What do you see when you open your refrigerator? How many containers of your favorite foods have been sitting in there for the past week or so? Those leftovers you keep meaning to eat - until you must eventually throw them away. Estimates from the U.S. Department of Agriculture suggest that over one-third (30-40 percent) of food goes uneaten through loss or waste. This adds up to approximately 133 billion pounds and $161 billion worth of food in 2010. In this episode of...

In this Family Financial Feuds episode, I had a mind-opening conversation with Karla Belzer about the role mindfulness plays in reducing stress about money. Karla is a Family Life Educator with University of Illinois Extension. She is also now the acting County Director for one of the IL Extension units. Karla has worked for 20 plus years in the health and services field. She has been studying, researching, and writing about mindfulness for many years, and she brings some new perspectives to...

Sasha Grabenstetter led the team into a lively and relevant discussion on whether it was possible to save for your children’s education and simultaneously save for retirement. We discussed our past college experiences, covered research on 529 plans, and explored savings goals. Find us on Sound Cloud to hear the full conversation.

There is growing interest in the personal finance community on mindfulness's effects on our money attitudes and behaviors. The research on mindfulness is continuously evolving. The focus on the relationship between money behaviors and mindfulness is intriguing to many financial professionals who work with different clientele or community members to help support their economic well-being. In this Family and Financial Feuds episode, I explore some mindful money practices with my colleagues Kathy...

I grew up in Jamaica, where one of the seasons is fondly referred to as the “rainy season,” which seemed like most of the year. Hurricanes, flash floods, earthquakes, and tropical storms are prevalent in the Caribbean. As a young child, I remember the adjustments my dad would make to our house. He would buy construction materials to batten down the windows and protect his workshop. I also can picture my mum securing essential documents such as our birth certificates, bank account information,...

What do you consider a major purchase? When do you think it is the right time to buy a big-ticket item? Responses to these questions may vary based on our interpretations. However, in difficult financial times, our approach may be different. While we are still making money decisions during this economic downturn, we also may be cautious and conscious about how we spend our dollars. A central goal of our podcast is to find ways to address feuds that arise. In our most recent episode of Family...

Tomorrow is the last day of our social media campaign, Financial Wellness Checkup! Over the past five weeks, we have covered several of your favorite personal finance topics, credit management, estate planning, back-to-school planning, and financial exploitation. We are closing out with a focus on ways to grow your savings. We understand that this is a hard topic during an economic downturn, and encourage you to consider some small ways you can still build or rebuild your savings. ...

Anyone can become a victim of fraud. Losing money or property through scams and frauds can have a lasting and devastating effect on your financial well-being (CFPB).  This week’s theme is financial exploitation, and throughout the week, we will be exploring multiple topics that focus on protecting personally identifiable information.    Protect your financial information online from identity thieves Do you shop, pay bills, buy tickets, or transfer money online? Effective...

Over the past few months, the economic climate has shifted dramatically with high unemployment rates and other levels of financial instability. The consumer economics team launches a new 5-week social media campaign, Financial Wellness Checkup. The goal of this social media campaign is to promote positive financial behaviors. It also aims to provide practical tips and resources for consumers as they work to manage their finances and improve their overall wellbeing. The campaign will be Live...

In this podcast episode, Camaya Wallace Bechard, Kathy Sweedler, and Sasha Grabenstetter discuss ways to identify financial stress. They also provided research on coping strategies and resources and shared information on to access federal, state, and community resources. To learn more, listen on Soundcloud.

Many of us like checking things off our lists, it gives us a sense of accomplishment, but sometimes lists can feel overwhelming during stressful times. Our latest podcast explores financial to-do lists, the paradox of choice, and finding ways to overcome the barriers we face to completing important financial tasks.  To hear this and other discussions on different personal financial topics, find us on SoundCloud.

In this episode of Family Financial Feuds, Kathy, Sasha, and Camaya share some of their favorite children’s books that explore essential money concepts. Listen on SoundCloud!

We all interpret and react differently to changes. In my extended family, some people have “what to do in a disaster plan,” and others prefer to take steps one day at a time. Whatever your approach to the new challenges that we are currently facing, the financial strains that may emerge could cause distress within us. We also know that money is a hard topic to discuss, therefore, finding ways to reduce anxiety about money conversations or accessing resources during this time is essential and...

In August 2019, I wrote about transferring money to loved ones safely domestically and internationally through banks and financial companies on my Fearless Financial Future blog. I received a reader’s request to write about some of the other ways consumers are repaying each other or transferring money using mobile devices. In this article, I explore the relationship...

The beginning of the year is typically a time for reflection and goal setting, and I started thinking more about what the concept of financial independence means to us.  This is one of my favorite topics because of what it means for financial well-being (the ability to meet all financial needs, today and over time; feel secure in the financial future; absorb a financial shock; and have the...