January 2002 Newsletter

Financial Planning for Women
January 2002 Newsletter
A monthly educational seminar designed to empower women, "Financial Planning for Women" is offered the second Wednesday of each month at 12:30-1:30 p.m. (USU Family Life building Rm 318) and 7-8:30 p.m. at the Family Life Center (493 N 700 E).
Facilitator: Dr. Jean Lown, lown@cc.usu.edu; 797-1569

Happy New Year!
It's time to fill out your worksheets in The Financial Checkup (TFC) to determine how you are doing and assess your financial progress and identify areas in need of help. Free copies of TFC are distributed to FPW attendees (while they last). It's the 37 page royal blue workbook developed by Alena Johnson, HENV Family Finance instructor. Dig out your workbook, start filling out the forms and be sure to come to FPW on March 13 for help in evaluating your financial situation.

Saturday, January 5. Vickie Robin, co-author of Your Money or Your Life (voluntary simplicity) will be a guest on Sound Money radio program (see details below)

January 9, 2002: Estate Planning
Check out module 10C from Planning for Financial Independence and a Secure Retirement:
http://www.ces.purdue.edu/retirement or go directly to: Planning your estate: A guide to help you work with your attorney: http://www.ces.ncsu.edu/depts/fcs/estates/
Also: the Nolo Press site http://www.nolo.com/ then click on "Wills and Estate Planning" on the home page. Our session will cover the basics of what you need to know in order to begin the estate planning process. No legal advice will be offered. Dr. Barbara Rowe, Extension Family Resource Management Specialist, will talk about personal property transfers.
February 13: Income tax update Learn about the provisions of the 2001 tax law that may affect you. Are you saving for retirement or college? Do you have children? Are you a low wage earner? Are you paying off student loans? Will you ever die? The 2001 tax law affects you! Find out how and what you need to do to take advantage of new provisions to enable you to keep more of what you earn.
March 13: The Financial Checkup We plan to use The Financial Checkup (the blue workbook given out at FPW over the past year) for some of the 2002 sessions. So get out your TFC, copy those forms and start filling them in. This session will be presented with the assistance of USU Family Finance students as a fund raiser for them to attend the annual conference of the Association for Financial Counseling and Planning Education in November. Suggested donation: $5. (We will not turn anyone away; a basket will be available for your donations.)
We will review Ch 1, Introduction, Ch 2 Net Worth Statement and Ch 3 Income & Expense Statement (what they are and what they are used for). In addition, we will break into small groups for working sessions and Q&A regarding financial ratios, savings, retirement, taxes (how to adjust your W-4 withholding), insurance, goals, and budgeting. The best preparation is to come with copies of your worksheets filled out. The student counselors will work with small groups to answer questions, explain financial terms and concepts.
April 10 Money Market Mutual Funds

Quote of the month:
"I want a simpler, slower, intentional lifestyle (emphasis on INTENTIONAL)." Lynne Hornyak, author of Wealth Healthy Women [TM], a free e-mail newsletter for women seeking greater financial freedom and well-being. To subscribe to this free e-mail newsletter please send an e-mail to Lynne@WealthHealthy.com. In the subject line put "Subscribe Newsletter".

Building and Keeping Good Credit
http://www.consumer-action.org/Library/English/Credit/CR-I-09_EN/CR-I-09_EN.html
This brochure addresses each of the following topics:
What is your credit history?
Good credit versus negative credit
What is a credit report?
Your rights
How do I get my credit report?
Why was my credit application denied?
What if my credit application is denied?
How can I establish good credit?
Unsecured credit cards
Optional credit card services
Where to complain

Women, Debt and Depression
A research study of clients of a credit counseling service revealed that women in debt are likely to be depressed.
http://www.myvesta.org/news/releases/releases/112901PRDepression.htm
The USU Family Life Center offers both financial counseling and marriage and family (and individual therapy. If you or someone you care about is suffering from debt or depression or both call the FLC for an appointment: 797-7224.

Simplify Your Life
Does your life feel out of control due to excessive busyness? Do you spend your precious time buying things you don't really want or need with money that you do not always have? Please consider joining a simplicity circle. You will just need $15 to purchase the manual, "A Discussion Course on Voluntary Simplicity." The course meets once a week for eight weeks and the time is determined based on the needs of the eight or more participants. The weekly readings are interesting and full of great ideas that have come from a wide variety of authors who have made simplifying a major part of their lives. The results are increased happiness, less stress and more money in the bank. Here are some of the positive comments from former participants. " I loved the ability to get together with like-minded people and share ideas." "This group provided me with motivation, encouragement and support in making life changes to help myself and the earth." "We are creating an awareness in the community that happiness does not have to come from owning many things." Start you new year on a positive note by creating a life that will help yourself, others and our precious world. If you have interest in joining a circle contact Marianne Christian 753-0682 <mardave1@msn.com>. Marianne taught the December FPW workshops on Simplicity Circles.
Note that Vickie Robin, co-author of Your Money or Your Life (available at the Logan Library) will be a guest on Sound Money Saturday, January 5.
Sound Money <www.soundmoney.org> is a call-in radio program (Sat. 9-10 am 89.5 or 91.5 FM) is hosted by Debra Baer and Chris Farrell and features weekly appearances by Minneapolis money manager Erica Whittlinger, president of Whittlinger Capital Management. Each program contains several interviews with special guests who address a wide variety of topics of interest to individual investors and consumers. Upcoming topics:
January 2002 programs:
Simplifying January 5, 2002
We go straight to the source, and check in with Vicki Robins, the "founder" of the simplicity movement.
Credit Card Debt January 12, 2002
After the holidays, we all likely have higher credit card balances....advice on how to stay out of credit card trouble.

The U.S.U. Family Life Center, 493 North 700 East in Logan offers free financial and housing counseling. If you want help getting out of debt or simply organizing your finances and developing a realistic budget (or know someone who can use this help), call 797-7224 for an appointment. The FLC offers first-time homebuyer workshops the last Saturday of each month.
Funding for Financial Planning for Women (copying cost, postage, book purchases, etc.) is made possible by a grant from the Foundation for Financial Planning. www.foundation-finplan.org/