Family and Consumer Sciences

Live Smart Ohio

Ohio State University Extension

Money

Your Financial Life~Claim Your Unclaimed Money

Looking for a financial windfall that is legitimate? There is a great possibility that personal property such as money with your name on it is just waiting for you to claim! Annually states return more than $3,000,000,000 in unclaimed property to one in every 10 persons. Lost and forgotten property is considered abandoned or unclaimed. […]

WRITTEN BY: Candace J. Heer, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Morrow County

REVIEWED BY: Courtney Woelfl, Program Specialist, Family and Consumer Sciences, Ohio State University Extension

PHOTO CREDITS:

  • https://pixabay.com/
  • https://www.missingmoney.com/en/Property/Search

SOURCES:

  • Unclaimed Money from the Government; https://www.usa.gov/unclaimed-money
  • National Association of Unclaimed Property Administrators; https://unclaimed.org/
  • The Unclaimed Property Professionals Organization (UPPO), Gift Cards/Stored Value Cards; https://www.uppo.org/blogpost/925381/Unclaimed-Property-Focus?tag=Gift+Cards#:~:text=Dormant%20unredeemed%20gift%20cards%20and,that%20address's%20state%20will%20apply

REFERENCES:

  • National Conference of State Legislatures, Abandoned or Unclaimed Property and Escheatment Statutes; https://www.ncsl.org/research/financial-services-and-commerce/abandoned-or-unclaimed-property-statutes.aspx
  • The Office of the Ohio Attorney General; https://www.ohioattorneygeneral.gov/Home
  • Federal Trade Commission: Consumer Information; https://www.consumer.ftc.gov/features/scam-alerts

Financial Consumers

Do you remember studying the food chain long ago? Plants capture energy from the sun to produce their own food, and are therefore called “producers.” The animals that eat those plants, or other animals, are labeled  “consumers.” When we think of humans as consumers, we may immediately think about our consumption of food and drink. […]

WRITTEN BY: Emily Marrison, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Coshocton County

REVIEWED BY: Courtney Woelfl, Program Specialist, Healthy Finances, Family and Consumer Sciences, Ohio State University Extension

PHOTO CREDITS:

  • https://unsplash.com/photos/bmj1Vl77ZWM
  • https://unsplash.com/photos/NpTbVOkkom8

SOURCES:

  • Egan, J. What’s the most important factor of your credit score? Experian. August 29, 2021. https://www.experian.com/blogs/ask-experian/what-factor-has-the-biggest-impact-on-credit-score/
  • What is a debt-to-income ratio? Why is the 43% debt-to-income ratio important? Consumer Financial Protection Bureau. November 15, 2019. https://www.consumerfinance.gov/ask-cfpb/what-is-a-debt-to-income-ratio-why-is-the-43-debt-to-income-ratio-important-en-1791/#:~:text=Your%20debt%2Dto%2Dincome%20ratio,money%20you%20plan%20to%20borrow

REFERENCES:

  • Mortgages key terms. Consumer Financial Protection Bureau. Retrieved October 18, 2021. https://www.consumerfinance.gov/consumer-tools/mortgages/answers/key-terms/?_gl=1*17g9u5n*_ga*MTg0NTk3MTQyNy4xNjMwNDMwODA4*_ga_DBYJL30CHS*MTYzNDU4NzgxMi40LjEuMTYzNDU4ODI0OS4w

Don’t Delay, Start Saving TODAY!

Maybe you missed the boat in starting to save for retirement earlier in life. If so, you are not alone. One in three Baby Boomers (33%), the generation closest to retirement age, only have between $0-$25,000 in retirement savings, while 21% of Americans have no retirement savings at all. The average American spends roughly 20 […]

WRITTEN BY: Dr. Roseanne E. Scammahorn, Family and Consumer Sciences Educator, OSU Extension Darke County

REVIEWED BY: Melissa Rupp, Family and Consumer Sciences Educator, OSU Extension Fulton County

What is the New Child Tax Credit?

Did you receive a letter this week from the IRS? The letter indicated that your family may be eligible for the new and improved Child Tax Credit. In March, President Biden signed the “American Rescue Plan” (ARP) into law. This bill included a change to the Child Tax Credit, which has been around since the […]

WRITTEN BY: Lauren Jones, PhD, Assistant Professor, Department of Human Sciences and Emily Marrison, OSU Extension Family & Consumer Sciences Educator, Coshocton County

REVIEWED BY: Roseanne Scammahorn, PhD, OSU Extension Family & Consumer Sciences Educator, Darke County

PHOTO CREDITS:

  • https://pixabay.com/photos/clock-money-growth-grow-time-2696234/

SOURCES:

  • Advance Child Tax Credit Payments in 2021. (2021, May 28). Internal Revenue Service. Retrieved June 8, 2021, from https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
  • Hooper, S.E. (2020). Start an emergency fund before disaster strikes. University of Minnesota Extension. https://extension.umn.edu/how-prepare/start-emergency-fund-disaster-strikes
  • Marrison, E.G. (2020, March 23). When your financial world is turned upside down. Ohio State University Extension Live Healthy Live Well Blog. https://livehealthyosu.com/2020/03/23/when-your-financial-world-is-turned-upside-down/

REFERENCES:

  • Consumer Financial Protection Bureau https://www.consumerfinance.gov/

Getting the right auto loan for you

Whether this is your first vehicle purchase or your 10th, when shopping for an auto loan there are some basics you need to know. Know your budget. Plan for what you can afford, not only in terms of the potential loan payment, but also insurance, vehicle registration, and maintenance. Knowing what you can afford before […]

WRITTEN BY: Dr. Roseanne Scammahorn, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Darke County, Scammahorn.5@osu.edu

REVIEWED BY: Courtney Woelfl, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Cuyahoga County woelfl.1@osu.edu

SOURCES:

  • Consumer Financial Protection Bureau. (2016). What is the difference between dealer-arranged and bank financing? https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-dealer-arranged-and-bank-financing-en-759/
  • Consumer Financial Protection Bureau. (2016). How do I compare auto loan offers? What should I look at besides the monthly payment? https://www.consumerfinance.gov/ask-cfpb/how-do-i-compare-auto-loan-offers-what-should-i-look-at-besides-the-monthly-payment-en-753/
  • Federal Trade Commission. (2012). Co-signing a Loan. https://www.consumer.ftc.gov/articles/0215-co-signing-loan

Understanding Your Financial Aid Offer

When paying for college, make sure you understand your financial aid offer.  This letter spells out the details of your financial aid package and what you will be expected to pay out-of-pocket. First, how do you get a financial aid offer letter? To get a financial award letter from your selected college(s), you must first […]

WRITTEN BY: Dr. Roseanne Scammahorn, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Darke County, Scammahorn.5@osu.edu

REVIEWED BY: Melissa J. Rupp, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Fulton County, rupp.26@osu.edu

REFERENCES:

  • Consumer Financial Protection Bureau, (2021). Your financial path to graduation. https://www.consumerfinance.gov/paying-for-college/your-financial-path-to-graduation/?houx=826&fdx=340&clhx=87&trnx=324&hltx=121&entx=94&retx=22&taxx=-6&othx=385
  • Federal Student Aid. (2021). Apply for Financial Aid. https://finaid.org/fafsa/awardletters/
  • Federal Student Aid. (2021). You are America’s Smartest Investment. https://studentaid.gov/
  • Finaid (2021). Award Letters. https://finaid.org/fafsa/awardletters/

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