Vincenza Vicari-Bentley, AFC
Empowering Financial Wellness Program Coordinator

​Debt can be an abstract topic for children to grasp but it doesn’t mean we should shy away from those money conversations. A few years back, my husband and I were laser focused on paying off our debt. At the time, our child was young, and I found myself struggling to help him understand, in an age appropriate way, why we couldn’t buy that toy or travel to Disneyworld. It hurt much less to scale back on my shopping trips and “extra” expenses than it hurt me to say “no” to some of our child’s wants. I found myself thinking maybe this was a “teachable moment” instead of feeling anxious (and making our child feel anxious) I wanted to frame our debt payoff journey in a way that he could wrap his little head around it without stressing him. 

Vincenza Vicari-Bentley, AFC
USU Extension Empowering Financial Wellness Program Coordinator

It’s a new year and with that comes new goals, fresh starts and perspectives.  In 2020 Americans racked up $601 billion to run the total U.S. household debt to record-shattering $14.15 trillion. So here we are in 2021 (and maybe looking at post holiday spending?). Have you been thinking about if you’re carrying too much debt? When it comes to the question of how much debt is too much, there are as many answers as there are people. Basic answer: It all depends on what you can afford. How do you figure out what you can afford? It’s called a Debt-to-income ratio or DTI. Whether you make $500 a week or $500 an hour there is a standard formula lenders use to determine when debt can become a problem. 

Andrea Schmutz
USU Extension Assistant Professor

​Warning: I absolutely LOVE Dr. Seuss! I love how his books helped my kids learn to read. I love his made up names and animals that make me smile. I love the playful artwork and the vibrant colors. But do you want to know what I love most? I love the versatility of his stories that can be read simply for fun or to teach life lessons. I’ll bet you didn’t realize that some of Dr. Seuss’s stories can even help you on your path to financial wellness, did you?
 
If any of your new year’s resolutions have to do with managing your money better or dealing with debt, stick with me as we explore the wisdom Dr. Seuss imparted in a few of his well known stories.

2020 has been a stressful year. From pandemics to natural disasters, and seemingly everything in between, we have faced a level of uncertainty many of us have never seen before. This uncertainty has led to stress and worry in all aspects of life, including finances. If you fall into this category of finding your financial life more stressful in this crazy year, know that first you are not alone. According to a study performed by a group of researchers in Canada, parents have reported a higher level of stress with 22% of mothers saying their financial stress has increased regarding the next 6 months of their future (Carroll, et al., 2020). With all this stress happening, it can almost seem like a gloom and doom case scenario. However, there are things you can do to help manage this stress, especially when it comes to your finances.