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SMMC News & Events Blog
This blog highlights news, events, and informative articles on personal finance from University of Illinois System's Student Money Management Center. Feel free to navigate to different categories with the list of topics on the right or search for a specific topic next to the view all link below.

blog posts

  • Financial Feedback: Calculating Net Worth

    There are many measures we can use to track our personal finances. Typically, we talk about the subjective measures of financial well-being in the Student Money Management Center, because we're focused on helping our learners understand the nuance of financial decisions. However, traditional, objective financial measures, like net worth, can also be helpful in tracking our progress towards financial goals and gaining confidence.

  • Want to Start Investing? Read This First

    In this post, we cover financial foundations you need before investing—emergency savings, managing high-interest debt, and setting clear goals. Plus: how diversification and time horizons work, understanding the risk-return spectrum, and red flags to watch for.

  • Increasing ROI for a College Degree

    A college degree is a significant investment, often funded through a cornucopia of funding types. This article describes how to increase the overall return on investment in a college degree, including short- and long-term strategies. Since the majority of students borrow to pay for school, we pay particular attention to student loan management methods that can save students and alumni money.

  • Podcast: Before You Give or Take Financial Advice, Listen to This...

    It’s a new year, and with that comes a slew of advice on financial topics to tie into your resolutions. But before you listen to that influencer, click that link, or even take guidance from a family member, there are important factors to consider. In this episode, Making Cents of Money dives deep into the topic of using caution before giving or receiving financial advice.


  • What You Need to Know About Neobanks

    Learn what neobanks are, how deposit insurance really works with these services, and the key differences between them and traditional banks. Essential reading before you move your money to a digital-only platform.

  • Financial Education Research Opportunity

    Set Financial Goals, Learn Compound Interest, Contribute to Research

    Transform your financial goals into achievable plans while learning about compound interest through our research study combining goal-setting with visualizations.

  • Emergency Mode: Why You Need a Rainy Day Fund

    A quick guide on why a rainy day fund matters and how even a small savings buffer can reduce stress, prevent crisis decisions, and help you handle unexpected expenses with confidence.

  • Let It Go - The Sunk Cost Fallacy and Smarter Spending

    Discover why you keep throwing good money after bad decisions and learn the psychology-backed strategies to break free from the sunk cost trap that's costing you hundreds in subscriptions, investments, and everyday spending choices.

  • Money and Happiness

    Webinar Recording: Money & Happiness

    Can money buy happiness? Watch our webinar recording from May 1 to explore the relationship between money and happiness. 

  • A man in a chair in front of some trees with white text that states Roth vs Traditional Retirement Plans: What’s the difference?

    Roth vs Traditional Retirement Plans: What’s the Difference?

    When it comes to retirement-focused investing, understanding the tax treatment and rules of different accounts is essential for long-term financial planning. In the U.S., these typically fall into two main categories: Traditional and Roth accounts.

  • National Financial Capability Month podcast

    Podcast: National Financial Capability Month

    In episode 107 of Making Cents of Money, Kimber and Andrea talk about National Financial Capability Month which runs the entirety of April every year.

  • Neurodiversity and Financial Strategies

    Podcast: Neurodiversity and Financial Strategies

    In episode 106 of Making Cents of Money, Andrea and Kimber discuss the nuances of neurodiversity as it relates to navigating money management.

  • Podcast: Stages of Financial Behavior Change

    In episode 105 of Making Cents of Money, Emily Harmon, Illinois Extension Family Life Educator, joins Kimber & Andrea to delve into the Transtheoretical Model which can help explain why behavior change relating to finances can be challenging.

  • Webinar Recording: Investing 102 - Risks & Rewards

    Take your investing knowledge to the next level! Watch Investing 102 to learn advanced concepts and key tips for successful investing.

  • Money and Relationships

    Podcast: Money and Relationships

    In episode 104 of Making Cents of Money, Andrea & Kimber discuss considerations for navigating financial management when it comes to relationships, be them romantic, familial, or with friends and roommates.

  • Webinar Recording: Investing 101 - Wealth Building Basics

    Want to start investing? Watch Investing 101: Wealth Building Basics to learn basic investing terms and concepts to confidently begin your investment journey.

  • How the Rule of 72 Can Help You Build Wealth--Or Sink Deeper Into Debt

    How the Rule of 72 Can Help You Build Wealth—Or Sink Deeper Into Debt

    Whether you are saving for a goal or dealing with debt, the Rule of 72 offers a simple, yet effective way to estimate the time it takes for money to grow or for debt to balloon due to compound interest. 

  • Picture of an old rusty lockbox

    Podcast: Unclaimed Property in Illinois

    In episode 102 of Making Cents of Money, Treasurer Michael Frerichs joined as a guest to discuss the state of Illinois' process for getting unclaimed property back to the owners.

  • A notebook on someone's lap with the word "Goals" written on the first page

    Podcast: New Year, New Financial Resolutions

    In episode 101 of Making Cents of Money, join Kimber and Andrea for pointers on pursuing your financial resolutions in the new year.

  • Podcast: The [Episode] with All the Co-Hosts

    In episode 100 of Making Cents of Money, all the co-hosts (past and present) reunite to celebrate the release of the 100th podcast episode.

  • Financial Socialization

    Podcast: Financial Socialization

    In episode 99 of Making Cents of Money, Andrea and Kimber discuss financial socialization, how it develops, who contributes to it, and what it means for our relationship with money.

  • Costs of Car Ownership

    Podcast: Costs of Car Ownership

    In episode 98 of Making Cents of Money, Kimber and Andrea talk about the costs of car ownership and what to consider when deciding on if a vehicle is a need or a want for you. 

  • Budgeting for a Week white text on photo of printed graphs and charts with a calculator

    Budgeting for a Week: A Realistic Approach

    Budgeting empowers you to work toward reasonable financial goals, keeping you from overspending and accruing debt. Explore steps you can take this week to start building a budgeting habit.

  • Building, Protecting, and Leaving Your Nest Egg

    Webinar Recording: Building, Protecting, & Leaving Your Nest Egg

    Plan your legacy with confidence. Watch Building, Protecting, & Leaving Your Nest Egg to learn essential concepts of asset management across the life span. Build, protect, and leave your nest egg for future generations.

  • Budget Hacks

    Webinar Recording: Budget Hacks

    Ready to save more and spend smarter? Discover practical tips and tricks to make your money go further and achieve your financial goals by watching Budget Hacks on YouTube.

  • Podcast episode 91: Retirement Savings in Illinois

    Podcast: Retirement Savings in Illinois

    In episode 91 of Making Cents of Money, Retirement Savings in Illinois, Christine Cheng from the Illinois Treasurer's office discusses how Illinois is addressing barriers to planning for retirement and helping small businesses provide retirement benefits to their employees.

  • Rabbit in a hat with white text stating "Demystifying the financial aid process"

    Webinar Recording: Demystifying the Financial Aid Process

    Unlock the secrets of financial aid. Learn how to maximize your financial aid package and ease the burden of tuition. Join us to navigate the complex world of financial aid with confidence. 

  • Facilitator Guide - How to Throw a Webinar Watch Party

    We aren't able to accommodate workshops by request, but we have dozens of webinar recordings on YouTube and plan new, live webinars each academic year on different financial topics. You can empower your peers or students with increased financial knowledge by throwing a webinar watch party.

  • Mutual Funds vs Exchange Traded Funds

    Curious about automatically diversified investment options? Learn the key differences between Mutual Funds and ETFs, and find out which might be the best fit for your situation and financial goals.

  • Lines of Injustice: What is Redlining?

    Podcast: Lines of Injustice: What is Redlining?

    In episode 83 of Making Cents of Money, Lines of Injustice: What is Redlining?, DFPR Secretary Mario Treto, Jr. discusses the topic of redlining and how it leads to disparities for generations. 

  • Money, Stress, and Bad Habits

    Webinar Recording: Money, Stress, & Bad Habits

    Understand the connection between money, stress, and bad habits. Learn strategies to manage stress, break free from detrimental financial behaviors, and cultivate a healthier relationship with money.

  • Financial Education Resources for Illinois Residents

    Podcast: Free Financial Education Resources for Illinois Residents

    In episode 82 of Making Cents of Money, Free Financial Education Resources for Illinois Residents, Maggie Owen from the Illinois State Treasurer's Office joins us to discuss all the financial education programs Illinois has for residents. 

  • April 30th Student Loan Deadline

    Podcast: April 30th Student Loan Deadline

    In episode 81 of Making Cents of Money, April 30th Student Loan Deadline, we discuss a critical deadline for FFEL, Perkins, or Health Education Assistance Loans (HEAL) borrowers on income-driven repayment (IDR) plans. 

  • Student Loan Management

    Webinar Recording: Student Loan Management

    Learn how to navigate your student loan journey. Understand crucial terms, tips, and tools for managing your education debt.

  • Building Wealth After Graduation

    Podcast: Building Wealth After Graduation

    In episode 80 of Making Cents of Money, Building Wealth After Graduation, Donovan Sanchez returns to talk about how to navigate juggling multiple goals during the transition to life after college.

  • What happens when a bank fails? in white text over picture of piggy bank sinking in water

    Podcast: What Happens When a Bank Fails?

    In episode 79 of Making Cents of Money, What Happens When a Bank Fails?, Chicago City Comptroller and former Illinois Director of Banking, Chasse Rehwinkel joins us to discuss recent incidents of bank failure and how these differed from others in history.

  • Save Money on Food

    Webinar Recording: Save Money on Food

    Hungry for savings? Uncover tricks for affordable dining. Say goodbye to overspending and hello to tasty savings. 

  • Is Crypto the Wild West? with a sunset and silhouettes of saguaro cacti.

    Podcast: Is Crypto the Wild West?

    In episode 78 of Making Cents of Money, Is Crypto the Wild West?, David DeCarlo and Jake Hamilton join us to discuss what regulation does and does not exist for consumers regarding crypto.

  • Episode 77 - Tax Talk with two people speaking to each other over some paperwork.

    Podcast: Tax Talk

    In episode 77 of Making Cents of Money, Tax Talk, Andrea and Nikki talk tax... forms, terms, and more as the April 15 federal tax deadline approaches.

  • Steps to Investing: What to Know Now

    Webinar Recording: Steps to Investing - What to Know Now

    Ready to start investing? Learn investing basics and explore new trends in securities. 

  • Podcast: What is Crypto Anyway?

    In episode 76 of Making Cents of Money, What is Crypto Anyway?, Jake Hamilton, a previous podcast co-host, comes back to provide an overview of how crypto works and what the future looks like for this financial technology.

  • Podcast: Setting & Prioritizing Financial Goals

    In episode 75 of Making Cents of Money, Setting & Prioritizing Financial Goals, Nikki and Andrea discussed several strategies for setting, prioritizing, and re-prioritizing financial goals... just in time for the new year! 

  • Image with line chart and graph behind white text that reads World Investor Week

    Podcast: World Investor Week

    In episode 71 of Making Cents of Money, World Investor Week, Andrea interviews Alan Sorcher and Anne McKinley from the US Securities & Exchange Commission in honor of World Investor Week on ways investors can learn about securities throughout the year.

  • Magnifying glass over newspaper focusing on Interest Rates with white text that reads "The Impact of Compound Interest"

    Podcast: The Impact of Compound Interest

    In episode 70 of Making Cents of Money, The Impact of Compound Interest, Andrea and Nikki explore the complicated relationship we can have with compound interest when it comes to accomplishing financial goals.

  • Decreasing Borrowing While in School

    Student loans can be a valuable tool for increasing access to higher education, but it does come with a cost. Learn how to limit those costs while in school so you decrease future costs of compounding interest.

  • Funding a College Education

    Funding your education can be a daunting task, but there are many tools to help students and their families cover the cost of a college education.

  • Podcast: Financial Planner vs AI

    In episode 65 of Making Cents of Money, Financial Planner vs AI, we discuss the pros and cons of using Artificial Intelligence language model, ChatGPT, to answer financial planning questions with the help of Donovan Sanchez, CFP®.

  • Screenshot of google map for financial institutions created by SMMC with white text: Financial Institutions Map

    Banking Locations Near Each University

    Looking for a financial institution on campus? Explore our Google Map for locations on or close to each campus in the University of Illinois System.

  • Saving Up for a Side Hustle

    To complement our Side Hustles & Small Businesses webinar from last fall, we wanted to share some tips on saving up for starting a small business.

  • Image of earth from space with "How Your Spending Can Change the World" in white text

    How Your Spending Can Change the World - Get Savvy Webinar Recording

    Explore how your spending can change the world by watching this webinar recording from March 29, 2023.