Making Cents of Money Making Cents of Money

Show Notes

Money Minded Curriculum: https://www.illinoistreasurer.gov/Financial_Education/Money_Minded_Illinois

Financial Literacy Resources:
https://www.illinoistreasurer.gov/Financial_Education/Financial_Literacy_Resources

IL Financial Wellness Hub
https://www.illinoistreasurer.gov/Financial_Education/IL_Financial_Wellness_Hub

There’s an important deadline at the end of this month for student loans! We break down the steps being taken by the Biden Administration for borrowers that may result in loan discharge sooner than anticipated in our latest episode of Making Cents of Money.


Show Notes:

U.S. Department of Education Press Release: https://www.ed.gov/news/press-releases/biden-harris-administration-announces-additional-49-billion-approved-student-debt-relief

Biden Extends Key Student Loan Forgiveness Deadline: Why It Matters:
https://www.forbes.com/sites/adamminsky/2023/12/18/biden-extends-key-student-loan-forgiveness-deadline-why-it-matters/?sh=7386b27a6dbf

Payment Count Adjustments Toward Income-Driven Repayment and Public Service Loan
Forgivness Programs: https://studentaid.gov/announcements-events/idr-account-adjustment

Consumer Advisory: Opportunity to cancel student loan debt ends soon:
https://www.consumerfinance.gov/about-us/newsroom/consumer-advisory-opportunity-to-cancel-student-loan-debt-ends-soon/

Direct Consolidation Loan Application: https://studentaid.gov/loan-consolidation/

Graduation, first jobs, and financial transitions, oh my!

In our latest episode of Making Cents of Money, we’re joined again by the University of Illinois Urbana-Champaign’s Donovan Sanchez to break down first steps for that first full-time job after graduation!


Show Notes:
Previous Episodes with Donovan Sanchez
• Ep. 33 – Establishing a Vision for Your Life: https://blogs.uofi.uillinois.edu/view/7550/2108012941
• Ep. 55 – Wealth Building as a Balancing Act: https://blogs.uofi.uillinois.edu/view/7550/1517205319
Budgeting & Financial Planning
• Ep. 20 – Budgeting: https://blogs.uofi.uillinois.edu/view/7550/804394514
• Ep. 25 – Choosing a Financial Professional: https://blogs.uofi.uillinois.edu/view/7550/518681996
• Ep. 75 – Setting & Prioritizing Financial Goals: https://blogs.uofi.uillinois.edu/view/7550/1854370435
• Get Savvy – Home Buying vs Renting: https://youtu.be/x6oggcypRkE
Managing Student Loans
• Get Savvy: Student Loan Updates webinar series: https://go.uillinois.edu/repay
• Federal Student Aid Repaying Student Loans 101: https://studentaid.gov/manage-loans/repayment/repaying-101
• Federal Student Aid Loan Simulator: https://studentaid.gov/loan-simulator/
• Public Service Loan Forgiveness: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service

Investing, Retirement, & Job Benefits
• Ep. 12: Preparing for Retirement: https://blogs.uofi.uillinois.edu/view/7550/1801541619
• Ep. 57 – Investing to Reach Financial Goals: https://blogs.uofi.uillinois.edu/view/7550/1002945600
• Ep. 69 – Understanding Your Paycheck: https://blogs.uofi.uillinois.edu/view/7550/1213480115
• Get Savvy – Investing Webinar Recording Playlist: https://www.youtube.com/watch?v=OuslkX86bGI&list=PLc0xo-6von5TmTidS-LlEN1ygiG6WzmQF
• Get Savvy – What's Your Job Worth?: https://youtu.be/kjxKgtjWBJE

Establishing & Managing Credit
• “How do I get and keep a good credit score?” (CFPB, 2020): https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-and-keep-a-good-credit-score-en-318/
• Ep. 5 – Understanding Credit: https://blogs.uofi.uillinois.edu/view/7550/270248943
• Ep. 42 – Credit Access: https://blogs.uofi.uillinois.edu/view/7550/203994282
• Ep. 43 – Choosing a Credit Card: https://blogs.uofi.uillinois.edu/view/7550/295268937
• Ep. 51 – Credit Scores: https://blogs.uofi.uillinois.edu/view/7550/343469214
• Ep. 67 – What's a Credit Report Anyway?: https://blogs.uofi.uillinois.edu/view/7550/171138189
• Get Savvy – Build Credit to Your Advantage: https://youtu.be/FZGqbTavfsY

Financial Stress & Mindfulness
• Ep. 26 – Emergency Funds: https://blogs.uofi.uillinois.edu/view/7550/1471084251
• Ep. 31 – Financial Security and Stress: https://blogs.uofi.uillinois.edu/view/7550/1806905857
• Get Savvy – How Your Spending Can Change the World: https://youtu.be/2qcb3LKegUk

Last year featured some of the largest bank failures in U.S. history. In this episode of Making Cents of Money, Chicago City Comptroller (and former Illinois Director of Banking) Chasse Rehwinkel joins us to break down what went wrong, how regulators respond, and why most consumers should not be worried about ever losing the money in their bank accounts.

Show Notes:

FDIC & California Regulator Reports
• FDIC Releases Report Detailing Supervision of the Former First Republic Bank, San Francisco, California: https://www.fdic.gov/news/press-releases/2023/pr23073.html
• Review of DFPI's Oversight and Regulation of Silicon Valley Bank: https://dfpi.ca.gov/wp-content/uploads/sites/337/2023/05/Review-of-DFPIs-Oversight-and-Regulation-of-Silicon-Valley-Bank.pdf
Financial Institution Insurance:
• FDIC: https://www.fdic.gov/
• NCUA: https://ncua.gov/
Recorded Webinar:
• Your Financial Tool Chest: https://youtu.be/XdUgsotxCqE?feature=shared (part of the Get Savvy: Grow Your Green Stuff Series)
Books:
• Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis — and Themselves by Andrew Ross Sorkin (Book and Movie)
• The Continental affair: The rise and fall of the Continental Illinois Bank by James P. McCollom (Book)

Previous Podcasts with Chasse:

• Episode 2: Banked or Unbanked - Choosing Financial Services for You https://soundcloud.com/idfpr/making-cents-of-money-episode-2?si=81bc1ead8b4b425db9b2c6bfd9b7f4e0&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing
• Episode 14: Short-selling https://soundcloud.com/idfpr/episode-14-short-selling?si=fd95e90d0de64fb2a1743ec92a8c7cd3&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing
• Episode 47: Community Reinvestment Act https://soundcloud.com/idfpr/episode-47-the-community-reinvestment-act?si=0b0b179278a74e0982f396809780aa1c&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing

Cryptocurrency is still new, and with new frontiers come new challenges. David DeCarlo and Jake Hamilton from IDFPR’s Office of Innovation join us on our latest episode of Making Cents of Money to discuss gaps in regulation and what can be done to help protect consumers.


Show Notes:

• CFPB Publishes New Bulletin Analyzing Rise in Crypto-Asset Complaints: https://www.consumerfinance.gov/about-us/newsroom/cfpb-publishes-new-bulletin-analyzing-rise-in-crypto-asset-complaints/
• How Chicago Fell for Crypto: https://chicagoreader.com/news-politics/how-chicago-fell-for-crypto/

• Pew Research Center: https://www.pewresearch.org/short-reads/2023/04/10/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/

• Debunking the narratives about cryptocurrency and financial inclusion: https://www.brookings.edu/articles/debunking-the-narratives-about-cryptocurrency-and-financial-inclusion/

• Ariel-Schwab Black Investor Study: https://www.schwabmoneywise.com/tools-resources/ariel-schwab-survey-2022
• www.reportfraud.FTC.gov
• www.IlAttorneyGeneral.gov
• www.IDFPR.illinois.gov
• www.investor.gov
• www.theblock.co
• www.coindesk.com
• www.coinmarketcap.com
• Sign up for Bloomberg Cypto Newsletter: https://www.bloomberg.com/account/newsletters/crypto
• Track IDFPR Digital Asset Bills: Go to www.ilga.gov and search for SB 3666, SB 3670, and SB3675

It’s tax season! We break down the common forms you’ll need to complete, where you find help if you need it, and when you can expect that refund (if you qualify!) on our latest episode of Making Cents of Money!


Show Notes:

IRS (federal) online account: https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers

IRS Identity Protection PIN: https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin

Illinois Tax site: http://mytax.illinois.gov and 1-800-732-8866
IRS Free File: https://apps.irs.gov/app/freeFile/

Volunteer Income Tax Assistance & Tax Counseling for the Elderly: https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers

United Way My Free Taxes: https://myfreetaxes.com/

Ladder Up’s Tax Assistance Program: https://www.goladderup.org/our-services/tax-assistance/

IRS Refund Tracker: https://www.irs.gov/wheres-my-refund

Making Cents of Money Episode 25: Choosing a Financial Professional https://open.spotify.com/episode/1h1EYlZVYNku6embWmDaKB?si=a4d74bb7ae82447a&nd=1&dlsi=3db07992d5994fd2

Making Cents of Money Episode 10: Taxes! https://open.spotify.com/episode/5HYt5s47HzrYUMcJ4QoyCK?si=565ac23204f74a5f&nd=1&dlsi=422f666b5c54430c

Get Savvy Illinois Webinar: Tackling Taxes https://www.youtube.com/watch?si=DSbtHl1gkSRIojmG&v=teZIDH8TL8A&feature=youtu.be

Get Savvy Illinois Webinar: Choosing a Financial Professional https://www.youtube.com/watch?si=im_GUn3w4ZlWXjlw&v=PrhWdm-ALX4&feature=youtu.be

Option for bank accounts: Bank On Illinois https://illinoiscomptroller.gov/constituent-services/public-services-community-programs/bankon-illinois