UW-Madison Center for Financial Security

02/24/2022

Take this week to get a clear view of your finances, set your financial goals, and make a plan that will set you on the path toward building financial resilience.

AMERICA SAVES WEEK IS FEBRUARY 21 - 25, 2022America Saves Week 2022 has one single focus: Building Financial Resilience.Since 2007 America Saves Week has bee...

02/23/2022

It’s America Saves Week! America Saves Week kicks off by focusing on the easiest and most effective way to save— to SAVE AUTOMATICALLY.

How do you save automatically? The best ways to save automatically are to split your direct deposit, have your financial institution automatically transfer a predetermined amount to your savings account, or enroll in employer sponsored retirement plan. By saving automatically you’ll adopt a “set it and forget it” approach that increases your success. And remember, saving is a HABIT, not a destination.

The easiest and most effective way to save is automatically. Think about it, this saving automatically is the exact same way that millions of employees save through 401(k) and other retirement programs at work. So, taking that same concept— that you can “set it and forget it” and adjust to mon...

02/17/2022

The documentary lands on something the experts can agree on: annuities are good.

Learn more: https://squaredawayblog.bc.edu/squared-away/documentary-navigating-a-401k-world/

Introducing, from contributing producer Joshua Schlinsky, The Baby Boomer Dilemma documentary trailer.-Want to know more about Joshua Schlinsky and his thoug...

02/16/2022

Each year, taxpayers’ personal information is compromised through phishing scams or by dishonest tax preparers. Follow these tips to help protect your personal information and your hard earned money.

Don't get scammed by IRS impersonators or by making a poor choice on tax preparers. Find tips to help protect your hard earned money.

02/15/2022

This retirement calculator allows users to add their age, marital status, monthly income and try out different options for retirement (working PT for 3 more years, claiming SSA at 70, etc), and displays how much you should save, when you can retire and more.

The NewRetirement Planner has been named a best retirement calculator by the American Association of Individual Investors (AAII), Forbes Magazine, The Center for Retirement Research at Boston College, MoneyBoss, CanIRetireyet and many more.

02/14/2022

Next week is America Saves Week (February 21-25) and UW is promoting financial well-being with free webinars, credit checks, and other resources that support financial stability.

Monday, February 21, 2022 | Save Automatically
Tuesday, February 22, 2022 | Save for the Unexpected
Wednesday, February 23, 2022 | Save to Retire
Thursday, February 24, 2022 | Save by Reducing Debt
Friday, February 25, 2022 | Save as a Family

America Saves Week Monday, February 21 through Friday, February 25, 2022 The UW System is committed to promoting financial wellness by helping you plan and achieve your savings goals. The [...]

02/10/2022

The Consumer Financial Protection Bureau (CFPB) will host a series of webinars next month for professionals and volunteers who regularly work with low-income clients and want guidance on how to help them with their finances.

The webinars, scheduled for March, are open to everyone, including social service case workers, legal aid providers, housing counselors, tax preparers, non-profit volunteers, financial advisers, and local government officials.

The Consumer Financial Protection Bureau (CFPB) will host a series of webinars next month for professionals and volunteers who regularly work with low-income clients and want guidance on how to help them with their finances.

02/08/2022

Financial coaching is an emerging strategy to help people enhance financial capability and well-being. However, few studies of coaching practices have been completed. Collins, Lienhardt and Olive’s research paper showcases the type of impact coaches have on their clients in the field today, and shows what financial coaching practices look like in the US today.

https://connect.springerpub.com/content/sgrjfcp/32/3/479

02/04/2022

A study that provided poor mothers with cash stipends for the first year of their children’s lives appears to have changed the babies’ brain activity in ways associated with stronger cognitive development, a finding with potential implications for safety net policy. Evidence that a single year of subsidies could alter something as profound as brain functioning highlights the role that money may play in child development.

The research could have policy implications as President Biden pushes to revive his proposal to expand the child tax credit.

02/03/2022

Work is a central component of identity for people in our society, providing income, a sense of purpose and self-worth. However, for many people with disabilities, there are barriers to finding meaningful employment. According to the U.S. Department of Labor, while 76% of those aged 16 to 64 without a disability were employed in 2020, but only 33% of those with a disability were employed.

Innovation: Faculty awarded $16.7 million grant for center supporting employment for people with disabilities June 30, 2021 Work is a central component of identity for people in our society. Work provides not only income, but a sense of purpose and self-worth. It often helps define who we are and is...

01/28/2022

“In December alone, 3.7 million children were lifted out of poverty in the United States,” said Halpern-Meekin. “So we know, as that money goes away, many of those children will go back under the poverty line.”

Tax season begins January 24th, and due to legislation failing to pass in Congress, the child tax credit is again going to change.