Family and Consumer Sciences

Live Smart Ohio

Ohio State University Extension

saving

Gain Confidence in Your Financial Future

Saving for retirement is an important step for us all to take toward financial stability in old age, and yet many Americans are not doing enough to prepare.  According to a 2016 Retirement Confidence Survey conducted by the Employee Benefit Research Institute (EBRI), only 21% of employees poled said they were very comfortable with the amount […]

WRITTEN BY: Amanda Woods, M.Ed. Healthy Finances Program Specialist, Family and Consumer Sciences, Ohio State University Extension

REVIEWED BY: Lauren Jones, PhD Assistant Professor Department of Human Sciences. Melanie S. Hart, M.S. Family and Consumer Sciences Educator, Ohio State University Extension & Shawna Hite, Healthy People Program Specialist, OSU Extension Family & Consumer Sciences

PHOTO CREDITS:

  • pixabay.com

SOURCES:

  • America Saves - AmericaSaves.org
  • Employee Benefit Research Institute (EBRI), 2016, https://www.ebri.org/pdf/pr1157.rcs-16.22mar16.pdf

The Benefits of Saving During Tax Time! (Part Two)

As mentioned in part one of this series, using your tax refund wisely by saving at least a portion can make a truly positive impact on your financial life!  After understanding the benefits of saving during tax time, it is important to also review the various mechanisms that will help you to do so.  If […]

WRITTEN BY: Amanda Woods, M.Ed. Healthy Finances Program Specialist, Family and Consumer Sciences, Ohio State University Extension

REVIEWED BY: Lauren Jones, PhD Assistant Professor Department of Human Sciences

The Benefits of Saving During Tax Time! (Part One)

It’s tax time again, and for those of us that receive a little windfall income in the form of either a tax refund or Earned Income Tax Credit (EITC), this can be an exciting time to focus on saving.  In fact, of those Americans who will file a tax return this year, about 75 percent […]

WRITTEN BY: Amanda Woods, M.Ed. Healthy Finances Program Specialist, Family and Consumer Sciences, Ohio State University Extension

REVIEWED BY: Lauren Jones, PhD Assistant Professor Department of Human Sciences

Spending, Saving, Giving . . . and More

A friend of mine is blessed with two elementary-aged daughters. He and his wife provide them each a $7.00 weekly allowance with the following parameters: $2.00 is okay to spend, $4.00 should be saved, and $1.00 is to be giving away to a charity. These fortunate children are learning a basic principle for achieving financial […]

What is Up (or Down) with Gas Prices?

The last time gas prices were this low, the United States and most other developed countries were in the midst of the global financial crisis in 2008, one of the worst economic crises of the last century (BEA). Several economic forces acting in concert reduced demand for gasoline. The national unemployment rate was steadily marching […]

WRITTEN BY: Michael R. Betz, PhD

REVIEWED BY: Jim Bates, PhD

SOURCES:

  • [1] BEA National Income and Product Accounts Tables https://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&904=1930&903=1&906=a&905=2014&910=x&911=0
  • [2] BLS Labor Force Statistics from the Current Population Survey
  • http://data.bls.gov/timeseries/LNS14000000
  • [3] U.S. Census Bureau Historical Poverty Tables (Table 9)
  • http://www.census.gov/hhes/www/poverty/data/historical/people.html
  • [4] Federal Housing Finance Agency House Price Index Datasets
  • http://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qpo
  • [5] BEA National Income and Product Accounts Tables https://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&904=2010&903=1&906=a&905=2014&910=x&911=0
  • [6] BLS Labor Force Statistics from the Current Population Survey
  • http://data.bls.gov/timeseries/LNS14000000
  • [7] Federal Reserve Bank of St. Louis
  • http://research.stlouisfed.org/fred2/series/UMCSENT/

Are Child Savings Accounts the Magic Bullet?

Have you heard that having a savings account in your child’s name will increase their chances of attending college, graduating from college, having fewer student loans, and even improving reading and math scores? According to Terri Friedline’s research (The Independent Effects of Savings Accounts in Children’s Names on their Savings Outcomes in Young Adulthood(PDF)Links to a […]

REVIEWED BY: Nancy Stehulak, Family & Consumer Sciences Educator in Henry County, Ohio State University Extension

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