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Vincenza Vicari-Bentley, AFC Empowering Financial Wellness Program Coordinator  First let’s talk about what disability insurance is and why you need it. During our working years the ability to earn an income is important and necessary for survival. But what happens if you lose your ability to work, even temporarily? The Social Security Administration estimates that one in four 20-year-olds will experience a disability for 90 days or more before they reach age 67 and during their working years. You are also three and a half times more likely to be injured and need disability coverage than you are to die and need life insurance. While these are sobering statistics, we can consider a disability insurance policy to protect our assets.
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Vincenza Vicari-Bentley, AFC Empowering Financial Wellness Program Coordinator  If you’ve been following along for bit, you know about the 2022 Finance Calendar available as a free download on our site. This resource breaks down important financial tasks with simple things to do each month to improve financial wellness. (Download Here!) One of March’s tasks is to create (or update) a power of attorney. Click to read more about this important estate planning task.
KristiLyn Wilkinson, M.S., AFC Candidate   You might be familiar with this phrase if you have read Marie Kondo’s The Life-Changing Magic of Tidying Up. I’m here to tell you that revolving savings accounts are pretty life-changing as well! A revolving savings account is the magic that keeps irregular expenses from derailing your budget.
One of the main obstacles to budgeting that I hear from people is that they have expenses that don’t happen every month, that are larger in nature, and throw off their planning. For most people, we tend to live our financial lives month-to-month. Your rent or mortgage is due once a month, your car payment is due once a month, you pay for Netflix and piano lessons once a month, etc. You get the picture. But every month it seems like there are some expenses like a birthday, Christmas, annual insurance bill, college tuition, etc. that come creeping in. AMANDA H. CHRISTENSEN, AFC, USU EXTENSION ASSOCIATE PROFESSOR, UMM EDITOR  Clearly, it’s important that all adults have a rudimentary understanding of money management. You don’t have to dig too deep to see the critical issues that make this all the more important for women. Research shows specific issues that make it CRITICAL for women to understand the basics of personal finance are threefold: they live longer, are more likely to stop working mid-career, and they earn less. Let’s break down the “So What?”
GUEST CONTRIBUTOR: TASHA KILLIAN, USU EXTENSION ASSISTANT PROFESSOR  Choosing to pursue higher education can be a tough decision. It can be an even harder decision when you look at all the costs. In light of National Higher Education Day, high school graduations, and college freshmen getting ready for their first semester, I thought I would share with you a few tips that got me through some of my higher education days, when money gets a little tight. If you, one of your children, a niece, nephew, or someone else you know is going to be starting their higher education experience in the next little bit, be sure to pass these tips on to them.
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