Join us on Thursday, October 14 at 7 pm for a special Money Smart Meetup on the topic of Dividend Stocks. Evaughn Ferrero from Wintrust Investments will discuss what dividend stocks are and how they can fit in your portfolio.
This is an in-person program; please join us in the Large Meeting Room at the library. Register in advance here.
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If you're feeling overwhelmed by the amount of debt you're lugging around, or if you just want to be done with it once and for all, you need a debt snowball calculator.
No, it's not an actual calculator that you hold in your hand. It's an online tool that is free and easy to use. You just have to know that it exists and where to find one. If you Google "debt snowball calculator," you'll find many companies offering them online. Try looking for one that comes from a .org rather than a .com. Here's a good one I recommend. There's no need to login or create an account, and it doesn't save your information...it's just a helpful tool that will show you how fast you can pay off debt. How to do it:
Don't avoid your debt; make a plan to pay it off! Did you know... If you're not familiar with Dave Ramsey, a popular personal finance author, you should check out his website. It's full of helpful information in all areas of personal finance, including cutting costs. You can sign up to receive regular emails on a variety of topics, like this recent one on Cutting the Cable. We especially like #19 on his list!
You can lower your cable bill dramatically in an afternoon by calling your service provider (i.e. Comcast) and cancelling the cable portion of your service. If you still want to have access to the Internet, you'll need to keep paying for that portion of your service (i.e. about $70-$80 per month from Comcast). If you keep your Internet service, the article from Dave Ramsey outlines the current pricing of alternative subscription services (such as Disney+ and Peacock) you can pay for to find shows you like. These subscription costs, in addition to your Internet cost, will still be far less than what you were paying on your cable bill. However, if you add a bunch of subscriptions, you could end up right back where you were - price wise (though you'll likely have content you like better than your old cable options). The article also mentions HDTV antennas as a way to get local channels. You might think of antennas as an antiquated way to watch TV, but here in Elk Grove Village, the reception is quite good. For the cost of a $15-20 antenna, plugged into the back of an HDMI port on your TV, you can watch dozens of local channels, including ABC, NBC and CBS, without paying for Internet service. If you'd like more information about cutting your cable costs, stop by the Adult Reference Desk or email Nancy B. at [email protected]. How much is “stuff” costing you?
Our stuff – from cars and housewares to clothing to tech gadgets – costs a lot. Not just in terms of buying it but maintaining it and organizing it. As consumers, we're always adding more stuff and upgrading to the next best thing. And how much time do you spend looking for items amid your sea of stuff? Time is money, too! This month, we’re talking about saving money by living with less stuff, whatever that means to you. Buying less? Discarding whatever doesn’t “spark joy”? Or maybe you’re interested in the true minimalist lifestyle. How much money could you save - and what could you gain - by focusing less on stuff? We'll also briefly cover some of the ways to sell and discard the stuff you no longer need. This will be a discussion-based program, so bring your ideas to share! To register for the program, click here. Our final program in the series with Karen Chan will be on the topic of Estate Planning. Karen helps make sense of this complicated topic to help you feel more confident in making your plan.
You can watch a recording of the program here. In the third of our 4-part series with Certified Financial Planner Karen Chan. In this program, Karen provide she helps us think smarter about getting the most from our tax returns.
You can watch a recording of the program here. Financial education expert Karen Chan is back with us for February's program on Credit History, Credit Score and Identity Theft Protection. This is the second in a 4-part series with Karen.
You can watch a recording of the program here. Welcome to the New Year, a time when you might usually take a fresh look at your finances and make new money goals for the year. But in these difficult times, you might just be trying to keep your head above water...financially speaking.
Now more than ever, you need a plan to help you set a course and take control of what may seem like an out-of-control situation. On January 21, certified financial planner Karen Chan will help you do just that. She will share her method for "12 Months to Take Control of Your Finances." Join us for this virtual program on Zoom. Click here to register. This is the first in a 4-part series with Karen Chan. She will join us again in February, March and April for these topics:
If you've been unable to pay your mortgage due to the COVID-19 pandemic, and if you have received mortgage forbearance from your loan servicer, you may be worried about what will happen when that forbearance period is over. The Consumer Financial Protection Bureau (CFPB) just released this video, providing information on your options.
The CFPB is a good source of information for dealing with financial hardships during this time. Check out their website for more help. What if you could feel more "in control" of your money a year from now? Karen Chan, a certified financial planner and personal finance educator, will join us via Zoom on October 15 @ 7 pm to lay out a 12-month plan for getting your financial life organized. Watch the recording of this program here. Check out the resources on Karen's website at www.KarenChanFinancialEd.com. Karen was previously a consumer finance educator with the University of Illinois Extension and still writes for their Plan Well Retire Well blog. The U of I Extension site has many other money-related resources, including Getting Through Tough Financial Times. |
upcoming programs:To be announced.
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Meetup Facts: ABOUT USMoney Smart Meetup is sponsored by the Elk Grove Village Public Library. Archives
June 2023
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