In seeking to improve your financial knowledge, don’t forget about the University of Illinois Library’s resources. Subject experts and print and e-resources can aid your understanding and help you make more informed decisions when it comes to your personal finances.
The Library has many ebooks and books in print that can provide guidance on borrowing, earning, protecting, saving & investing, and spending. Watch for more “Spotlight on Library Resources” posts, in which we’ll feature a particular e-resource that falls into one of these categories.
There are several companies that say they provide free credit report services. However, very few actually do, or there’s always a catch–aka a fee–attached to it. Fortunately, AnnualCreditReport.com is the only website that allows you to access your credit reports from all three credit reporting bureaus for free once a year.
Checking your credit report is a great way to review your credit history and ensure that your identity hasn’t been compromised. Go to AnnualCreditReport.com to get a free copy of your credit report now!
One of the hardest parts of being on the job market is negotiating for yourself once you have an offer. The expectation is to feel grateful no matter what compensation you are offered, but the truth of the circumstances is that this feeling only helps the employer. While negotiating can be terrifying for some people, the importance in negotiating effectively rests in what is to be gained, or lost. There is a lot at stake!
Employers expect negotiation as part of the hiring process. Your ability to communicate thoughtfully and collaboratively in the negotiation demonstrates that you will be able to take this approach with your colleagues and clients. Negotiating can also be seen as a respectable and admirable quality when done correctly.
The primary point for most people is the value of their monetary compensation. Salary negotiation has both immediate and long-term benefits. Consider that a two to four percent increase in your initial salary can translate to over one million dollars of earnings over your lifetime. That amount could send your child to Harvard four times over. While the amount may not seem like much at first, remember that subsequent raises will be based off your current salary, and if you decide to leave your job, you can gain leverage on your next salary as well.
While salary is important, you must also consider the entire package within the offer. Does it give you financial support for continuing education, insurance, paid time off, gym memberships, childcare, travel stipends, moving expenses, and help locating housing? These additional benefits can dramatically increase the value of your job offer, and must be assessed correctly when estimating your total compensation. Just remember this: You have more leverage at the time of the offer than at any other point in the job search. Take this opportunity to ask for the things that will make you a productive, satisfied employee. If you don’t, you may really lose out in the end.
Every semester the USFSCO Student Money Management Center and University of Illinois Extension holds a series of webinars covering various money-related topics. If you missed our webinars, don’t worry! We’ve recorded them all so you can view them any time! Our 2013/2014 series, “Get $avvy – Grow Your Green $tuff” tackled everything from credit and debt to making the most of job benefits.
Each topic is aimed to inform, educate and empower! Take a look at our recorded webinars today.
Personal finance is a more complicated topic than many realize. A recent study noted that most people in the world cannot answer three simple personal finance questions correctly. It also has become necessary to educate ourselves on personal finance on a continual basis due to the new tools and technology introduced in financial markets every day.
Fortunately, the University of Illinois has partnered with iGrad to provide a resource for you to expand your knowledge of financial topics. iGrad is an online financial literacy platform with a nine-module financial literacy course covering the following topics:
In addition to having a robust financial literacy course, iGrad contains hundreds of articles, infographics, resources, tools and videos to help you make a variety of financial decisions. Use your Illinois NetID and Enterprise password to get started.