Tag Archives: Finances

The Financial Side of College Graduation

In November, the Higher Education Student Assistance Authority presented a program on how to pay for college.  As graduation dates creep ever closer, HESAA is back to talk about what to expect financially after graduation.  The feelings of joy and accomplishment after graduation can quickly fade as the real world of financial obligations start to set in.  Samantha Benson, Training Administrator for HESAA, will cover topics such as credit scores, student loan repayment programs, aggregate loan limits, and the cost of law and medical school.  Please join us for this critical informational session to help ensure that your children are set up for success after college.

 

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Business Registration & Reporting Business Income

As we continue to celebrate Money Smart Week, the New Jersey Department of Taxation, through their Taxation University, will be presenting their Business Registration and Reporting Business Income program at the NJSL.
This course will teach you about:

  • Different business structures
  • Registering a business in New Jersey
  • Legal entity vs. individual structured business registration
  • How to report your New Jersey business income

 

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An Investment in Knowledge Pays the Best Interest

Please join us for the second of three programs in celebration of MoneySmart Week.  “An Investment in Knowledge Pays the Best Interest,” presented by the NJ Bureau of Securities, will help you as you navigate the maze that is investing.  This presentation will provide information on the work of the state securities regulator, the Bureau, discuss the red flags of investment fraud and ways that investors can protect themselves from becoming fraud victims.

 

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Psychology of Spending

Please join us as we kick off Money Smart Week, a week dedicated to expanding financial literacy through a wide variety of educational and informational programming across the country.  Our first program of the week comes from the Credit Union of New Jersey.  We all spend money on a variety of things, but there may be more to our spending patterns that we know.  Questions the CUNJ will answer include:

  • What impacts your spending choices?
  • Why we buy what we buy?
  • How advertising affects what we buy?

 

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First-Time Homebuyer Information Session

Are you looking to move out of a rental property and finally own your first home, but don’t know where to start or how to pay for it?  We know that saving for a home purchase can be difficult.  Accumulating the funds for a down payment and closing costs can be a common barrier for potential homeowners.  Please join us as the NJ Housing and Mortgage Finance Agency will discuss different options available for first-time homebuyers, including their Smart Start program.

 

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Money Smart for Older Adults Program Recap

warning signs for scams

Thank you to all of those who joined us for Money Smart for Older Adults.  Financial exploitation is a widespread problem that can affect us all, especially the elderly and retired individuals.  Whether it be investment scams, charity shams, IRS frauds, or at the hands of a trusted family member or caregiver, billions of dollars are lost every year to exploitation.

One of the best ways to protect yourself from financial exploitation is to ensure that only people and institutions you trust have access to your financial and personal information, as well as your finances and assets.  If you are contacted online or on the phone from anyone claiming to be from a financial institution, a lottery or sweepstakes, the IRS, or a debt collection agency, never give out your personal or financial information, nor send any money, without first verifying the legitimacy of the institution or organization, the caller, and the nature of the call or email.  An easy way to determine if you are being scammed is to ask a lot of questions; scammers will have a hard time answering your questions or even refuse to answer them, which any legitimate organization or institution would be happy to do.

To review everything that was covered in Money Smart for Older Adults, including organizations, websites, and phone numbers to contact in the event of any attempt at financial exploitation, please download the Money Smart for Older Adults Resource Guide.

Money Smart for Older Adults

Elder financial abuse is a common and costly problem.  Conservative estimates suggest that elder financial abuse results in at least $2.9 billion a year.*  Elder financial exploitation can result in the loss of the ability to live independently.  It can also result in a decline in health, broken trust, and fractured families.  Money Smart for Older Adults is designed to provide you with information and tips to help prevent common frauds, scams and other types of elder financial exploitation.

*MetLife Mature Market Institute. (June 2011).  The MetLife Study of Elder Financial Abuse: Crimes of Occasion, Desperation, and Predation Against America’s Elders.  Retrieved from https://www.metlife.com/assets/cao/mmi/publications/studies/2011/mmi-elder-financial-abuse.pdf.

 

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Webinar – Protecting Against Investment Scams

Investment scams have been around for decades and with the growth of online trading and investing, the number of investment scams has continued to rise.  The Government Publishing Office, in conjunction with the U.S. Securities and Exchange Commission is offering a free webinar Protecting Against Investment Scams.  This webinar will cover how investors can identify and avoid investment scams, including resources available from the U.S. Securities and Exchange Commission.

Note – This is an online webinar and is not affiliated with the New Jersey State Library

Register Here!

Financial Aid Information Session Program Recap

Thank you to Andre Maglione from the Higher Education Student Assistance Authority for an extremely informative presentation on preparing for the financial aspects of higher education.   Paying for college can be overwhelming, especially for parents who are unfamiliar with the process.  Being organized and proactive are keys to ensuring that you do not miss any available financial assistance available.  Completing the CSS Profile and FASFA early and accurately can dramatically alter the cost to you and your child, ensuring you get the maximum need-based aid available.  Andre also covered the details of subsidized and unsubsidized Federal Stafford Loans, different federal and NJ State grants, and a variety of loans specifically for parents.  For more helpful information, please visit the links below or contact Andre Maglione via email, amaglione@hesaa.org, or phone, 609-588-3300 x1400.

Higher Education Student Assistance Authority (HESAA) – www.hesaa.org

Free Application for Federal Student Aid (FAFSA) – https://fafsa.ed.gov/

College Scholarship Service (CSS) Profile – https://cssprofile.collegeboard.org/

New Jersey Grants and Scholarships – www.njgrants.org

UNIGO Scholarship Search – https://www.unigo.com/scholarships

Financial Aid Information Session

November is National Scholarship Awareness Month and as college applications come due, the burdens of college financing can be overwhelming.  Paying for college can be a complex and confusing process, from finding scholarships, to applying for financial aid, to determining which student loans are the best fit.   Andre Maglione, Acting Director of Student Aid Services from The Higher Education Student Assistance Authority, will help to clear the confusion through their Financial Aid Information Session.  This session will provide useful information on all of the Federal and State grants, scholarships and loan programs available through the FAFSA (Free Application for Federal Student Aid).  Key information and requirements on filing the FAFSA are covered.  In addition,  college cost of attendance, the expected family contribution and their combined role in determining aid will also be covered.

 

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10 Basic Financial Steps for Special Needs Caregivers

The day to day responsibilities of a caregiver can be stressful enough, let alone having to manage someone else’s financial situation.  To help caregivers improve their financial literacy and confidence in managing other people’s finances, the Credit Union of New Jersey has created a 3 part seminar series surrounding financial responsibilities of special needs caregivers.  The first part, 10 Basic Financial Steps for Special Needs Caregivers, will discuss 10 basic steps to help caregivers get started in preparing for the financial future of their dependent with special needs.  As a caregiver of a dependent with special needs the single most important issue on your mind, regardless of the age of the dependent, is what will happen to my dependent after I’m gone.  There are some needs that will always be present and they must be carefully considered and planned for appropriately.  This workshop addresses such critical issues as applying for government benefits for Social Security and Medicaid, creating a Special Needs Trust, the importance of a Will and considering a Letter of Intent.  Taking these 10 basic steps now can help ensure the type of care and quality of life for a loved one’s well-being today and tomorrow.

 

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Women and Money Seminar Recap

Thank you to Odessa Santiago and Jaime Gangone from the Credit Union of New Jersey and all of those who attended the “Women and Money: Are You Covered?” seminar this past Monday.  The program covered tips and resources for women to maintain financial security in the face of a variety of situations and life-changing events.  From building and managing personal credit to safeguarding your identity and finances from identity left, there are many things to think about and prepare for as a woman in the 21st century.

Please visit the Credit Union of New Jersey’s website, www.cunj.org, for a variety of services and programs aimed to help everyone become financially independent and safe.

Here are some other online resources for women regarding financial management:

http://www.wife.org/ – WIFE, the Women’s Institute for Financial Education, provides a variety of resources and programs aimed at strengthening a woman’s financial independence.  Whether you are looking to build up credit, need financial planning advice for the future, or intimidated by the divorce process, WIFE has the resources and contacts you need to succeed.

http://www.wiserwomen.org/index.php?id=38 – The National Resource Center on  Women and Retirement Planning, a special project of WISER (Women’s Institute for a Secure Retirement), focuses on providing women all the necessary resources, tools, and strategies needed surrounding retirement.

Please check our Events calendar for future programs!