Managing your personal finances can often seem like the most daunting of tasks. Even after putting in lots of time and effort, there may still be things you don’t quite understand, especially when new financial circumstances arise due to age, marital status, kids going to college, etc. Money Smart Week, created by the Federal Reserve Bank of Chicago in 2002, was designed to help people better manage their personal finances through the collaboration of various organizations, who host a variety of financial programs.
We have three great programs to offer at the Library during Money Smart Week this year, and we’re excited to bring them to all of you! There will be a session for parents and teens on preparing for the rising cost of college, a special session for women on taking charge of their finances, and a session on claiming Social Security benefits. Details are below. Please register in advance.
How to Prepare for the Rising Cost of College
Thursday, April 28, 7:00 – 8:30 p.m.
Each year, the cost of college tuition rises higher than the annual inflation rate. With these steep increases, how can college-bound students afford tuition? Thomas J. Jaworski, M.A., of Quest College Consulting will share his expertise on how to break down the cost of college, understand the financial aid/scholarship aspect, and provide tips on how to maximize your dollar for college. This is an interactive presentation, so bring your smart device (phone or tablet).
Women & Money: Twelve Months to Take Charge of Your Finances
Saturday, April 30, 10:00 – 11:30 a.m.
This program, which was specially designed this year for Money Smart Week, will help you get your financial house in order by focusing on one part of your financial life each month. Personal finance educator Karen Chan, CFP, will introduce you to her Money Calendar. Following the calendar, you’ll do just a few tasks each month. Before you know it, you’ll learn where your money goes, evaluate your debt, estimate your income in retirement, know where to get help when you need it, and more. Bring a friend so that you can team up and support each other through the year-long process.
Strategies for Claiming Social Security Benefits
Saturday, April 30, 1:30 – 3:00 p.m.
Starting your Social Security benefits may be as simple as filling out a form, but there are many choices to make. Karen Chan, CFP, will explain the claiming options you have and how much money is at stake. She’ll also touch on the new rules enacted by the budget bill of October 2015, which restricts the filing options available to many people.