Tagged With "Debt Repayment Strategy"

A financial check-up is as important as an annual physical with a doctor. Like a medical exam, a review of someone’s personal finances can identify steps to improve “financial fitness” and screen for potential problems.

Families often have leftover holiday debt hanging over their heads like a big dark cloud. What can you do to help these clients? Below are 5 time-tested debt repayment steps to consider using.

As the 2022 tax season approaches, there are several important updates of which service providers should be aware. A few important changes are outlined here. Advance Child Tax Credit Payments. Families who received advance child tax credit payments will need to compare the monthly payments they received with the amount they are eligible to claim on their 2021 tax return to determine if they may be able to claim additional credit or if they will need to repay some credit. Eligible families...

Finding the balance between paying off debt and saving more money can be overwhelming. While it may be tempting to focus on one or the other, it may be possible to both save money and pay off debt at the same time with the right plan. Paying Off Debt The first step to paying off debt is knowing what is owed. Clients should make a list of their debts including the lender’s name, the total amount owed, the monthly payment, and the interest rate. Before attempting to save any income, they...

University of Illinois Extension is providing a series of six free online workshops to help families learn about personal finances as well as strategies for talking about money. The workshops are held each Thursday evening beginning May 5. The one-hour sessions start at 6:30 p.m. Registration is required at go.illinois.edu/TalkMoney to receive Zoom connecting information. If a reasonable accommodation is needed to participate, contact Camaya Wallace Bechard , Extension consumer economics...

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Automated message: Thanks for sharing this event! If you can, please remember to update this listing after your event with a link to the recording. You can do that by coming back to your event here in Connect Extension, clicking "Manage Event" and then "Edit Event." From there, I suggest adding the words "Recording Available Here" to the top of your event and linking out to the recording. Example: Recording Available Here Thanks for helping us make this an awesome archive of resources for...

https://umd.zoom.us/meeting/re...HZTl4EDLSU15hBZ6Q5YS

In December, many Extension educators field questions about holiday shopping and subsequent debt repayment. Check out these tips to share with clients.

Since launching in November 2022, ChatGPT has become the fastest technology tool to reach 100 million users…ever. Some are calling it “the next transformational platform.” Extension Educators may field questions about ChatGPT or consider its use in their work. Below are five key things to know about this ground-breaking artificial intelligence (AI) tool: ChatGPT Description - ChatGPT is “a very smart text-based robot” that can answer questions and have conversations with users. GPT stands...

Below are five smart uses for tax refunds for Extension professionals: Debt Repayment- There is probably no better “investment” than repaying consumer debt (e.g., outstanding credit card bills). Paying off an 18% credit card is equivalent to earning a 20.5% return for taxpayers in the 12% tax bracket

Stay current with trending financial topics in order to effectively serve clients. Here is a brief description of five trending financial topics related to current events, economics, legislation, and consumer behavior. Implications for military families are described.

Transitioning into 2024 marked a new year. Many of us saw the new year as an opportunity to start fresh, but financial hardships and losses can have a lasting impact on our mental health. This type of impact leads to unforeseen trauma. Often, we make resolutions to hit the ground running in the new year, but old habits die hard, mainly when these habits are deeply rooted in our psyche. Let us be realistic: We all plan to go to the gym on January first; we even go shopping over the holiday...

Learn about the return to student loan repayment, the new SAVE plan, historical loan balances and upcoming changes that impact borrowers.