Family and Consumer Sciences

Live Smart Ohio

Ohio State University Extension

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

Rainy Days and Emergencies Don’t Have to Get You Down!

Money management experts recommend an emergency account for that unexpected expense or worse, a job loss. How much do you need? Again the experts would say 3-6 months’ worth of expenses to give you a cushion until you find another source of income.  Years ago I established a fund that changed my financial situation and I […]

WRITTEN BY: Terri Worthington, FCS Educator, Geauga County

REVIEWED BY: Melanie Hart, FCS Educator, Greene County

PHOTO CREDITS:

  • Pixabay

SOURCES:

  • https://americasaves.org/for-savers/set-a-goal-what-to-save-for/save-for-emergencies

REFERENCES:

  • Mary Hunt, Debt-Proof Living: How to Get out of Debt & Stay that Way (2014)

Subscriptions: Convenience, at what Cost?

For decades, consumers have subscribed to magazines and periodicals, and each month are presented with fresh reading material. Fast-forward to more recent times, and subscriptions to “[item] of-the-month” clubs become popular gifts. Still today, more and more products that we consume or use regularly are becoming available to us via subscription services. According to the […]

WRITTEN BY: Joanna Rini, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, rini.41@osu.edu

REVIEWED BY: Candace J. Heer, Family and Consumer Sciences Educator, Ohio State University Extension, Morrow County, heer.7@osu.edu

PHOTO CREDITS:

  • https://www.uspsoig.gov/

SOURCES:

  • http://www.pewresearch.org/fact-tank/2016/01/29/us-smartphone-use/

REFERENCES:

  • http://livesmartohio.osu.edu/author/rini-41osu-edu/

Using a 529 Plan to Save for College

With annual tuition at U.S. public universities averaging nearly $9,500, saving money for a child’s college education may seem daunting.  But even small amounts saved regularly will help, and over time will add up.  One of the best tools for saving for college is a 529 Plan.  These federally established college investment accounts provide a […]

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

3 Ways to Automate your Finances

I write this as I glance at my to-do list, which I cannot recall the last time was blank. In our society, most adults are stretched thin with busy schedules, family responsibilities, work, maintaining a home, and trying to find some time for number one. Automation is one strategy that can help alleviate some of […]

WRITTEN BY: Joanna Rini, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, rini.41@osu.edu

REVIEWED BY: Katie LaPlant, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, laplant.8@osu.edu

SOURCES:

  • http://www.marketplace.org/topics/your-money/why-dont-more-consumers-use-automatic-bill-pay

REFERENCES:

  • https://today.duke.edu/2015/04/autopay

Millennials and Homeownership

“Homeownership has long been central to Americans’ ability to amass wealth”, according to the report on a study by researchers at the Joint Center for Housing Studies at Harvard. And… “Millennials are less likely to be homeowners than young adults in previous generations”, according to The Council of Economic Advisers in the Executive Office of […]

REVIEWED BY: Michelle Treber, Extension Educator, Family and Consumer Sciences, Ohio State University Extension

SOURCES:

  • https://www.whitehouse.gov/sites/default/files/docs/millennials_report.pdf
  • http://www.jchs.harvard.edu/news/homeownership-and-wealth-creation
  • http://www.americasaves.org/for-savers/set-a-goal-what-to-save-for/save-for-a-home/america-saves-promotes-home-ownership

REFERENCES:

  • http://www.nytimes.com/2014/11/30/opinion/sunday/homeownership-and-wealth-creation.html?_r=0

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