Frequently Asked Questions
Saving
- How can one save on college expenses?
- When do I need to save for retirement?
- As a recent graduate, how do I determine how much of my income to allocate to emergency savings?
- Why should I build an emergency fund?
- What are some ways to reduce spending in college?
- How do I lower my weekly food costs?
- How and where do I start saving money?
- What is the difference between saving and investing?
- How can I save money on utilities and daily purchases?
- As a student, can I save money through tax breaks?
- How can I save and budget money while maintaining a love life in college?
- Why get a savings account?
- How can I prepare financially for transitions while in school?
- How can I successfully achieve my goals?
Investing
- What is the Time Value of Money (TVM) and how does it impact my investment?
- When should I start investing?
- How do I start investing?
- What’s the difference between stocks and mutual funds?
- How does the time value of money help young investors?
- What is a discount broker?
Long-Term Investing
- How and when do I start saving for retirement?
- What is a 401(K) or a Roth IRA?
- Early In My Career: Is it necessary to understand the difference between a Traditional and a Roth IRA?
Resources on Campus
- Saving and Investing Terms: The University of Illinois Extension provides a glossary of frequently used financial terms.
- Steps Toward Investing (SMMC Recorded Webinar): Learn more about investment options and strategies as well as the benefits of investing early in this webinar.
- University of Illinois Saves: Pledge to save and participate in this campus-wide competition.
- More for Your Money: Saving Money: Use these resources from the University of Illinois Extension to learn practical habits for saving money.
- Getting Through Tough Financial Times: In conjunction with this resource from the University of Illinois Extension, read this post for information on setting aside money in an emergency fund.
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Personal Investing: the Missing Manual by Bonnie Biafore; Carol Fabbri; Amy E. Buttell: Highlighted by the University Library, this electronic resources offers guidance on preparing to invest and managing investments.
- Making the Most of Job Benefits (SMMC Recorded Webinar): Topics discussed in this webinar include salary negotiation, pension plans, and other employee benefits.
- Schedule an appointment with a Financial Wellness Peer Educator:
Peer Educators can help with: managing spending, organizing finances, increasing savings, goal setting/planning, credit/debit card questions, credit reports, student loans, and more.
Resources in the Community
- Champaign County Saves: Join your neighbors and community and set a financial goal as part of the America Saves Campaign.
- Roadmap to Saving and Investing – U.S. Securities and Exchange Commission: Navigate the saving and investing process with these steps.
- GradSense – Add It Up: How does compound interest work for you? Are you saving as much as you could be? Use these tools from GradSense to find out.