Money week gives basics to help you grow wealth
Benjamin Franklin said, "An investment in knowledge always pays the best interest."
Money Smart Week is investing in your financial knowledge.
The week is a widespread public awareness program that spreads financial information. From April 18 to 25, an estimated 450 free classes, meetings, activities and online sessions will focus on educating the masses on money matters throughout Chicago and its suburbs. The extensive list features distinguished presenters.
Ready to buy a house, finance a college education or tour the Chicago Board Options Exchange? Sessions for all three are included.
The complete list is neatly packaged in a color-coded booklet with Ben Franklin on the cover winking his approval. The money-green guide contains 100 pages of possibilities. The schedule also is online at moneysmartweek.org.
The public is invited to the kickoff event at 2 p.m. today in the Krasa Center at Benedictine University, 5700 College Road, Lisle. The keynote speaker is financial journalist Jean Chatzky who will speak on "Financial Responsibility in Today's Economy."
The best-selling author, "Today" show contributor and popular radio talk show host offers four basics everyone should know about their finances:
To succeed financially you need to: 1. Earn a decent living. Know how money is earned and how taxes are deducted. 2. Spend less than you make. Know how spending money that you have, which is cash, is different from spending borrowed money, which is using credit cards. 3. Save and invest the money you do not spend so it can work for you. Know how your money can earn you more money in savings accounts, bonds and stocks. 4. Protect the financial life you are building so a disaster can't take it all away from you. Know why we insure our belongings, cars, houses, lives and health.
With the basics established, Money Smart Week subjects range from credit quandaries to wise money management for all ages and all incomes.
The education week began in 2002 at the Federal Reserve Bank of Chicago with a few dozen programs and the support of 40 organizations to promote monetary literacy.
With each successful year, the idea grew. The DuPage Community Foundation gathered a group of not-for-profit organizations and financial institutions within the county last year to discuss local financial literacy issues. DuPage County will participate in Money Smart Week for the first time this year. Nearly 50 DuPage organizations offer 38 programs.
"The members of all the participating organizations agreed to share resources and ideas to achieve greater public awareness about financial literacy," said Christine Lewis, chief professional officer of United Way of the DuPage Area. "It wasn't planned this way, but it turns out that Money Smart Week is occurring when many of us are feeling the pinch of the economic downturn."
Naperville Public Library has three programs scheduled. "Layoff Survival Guide" addresses health care, financial basics and job search strategies for the unemployed and those anticipating layoffs from 12 to 2 p.m. Tuesday, April 21, at Nichols Library, 200 W. Jefferson Ave. The University of Illinois Extension presents "Making Your Money Last in Retirement" from 9:30 to 11 a.m. Wednesday, April 22, at the same location.
Susan Beacham, a financial literacy expert, talks to parents about raising financial knowledgeable tots and teens at 7 p.m. Thursday, April 23, at the 95th Street Library, 3015 Cedar Glade Drive, Naperville. The author developed the Money Savvy Pig that teaches children to manage their money. Free tickets are available at the adult service desks of all three Naperville libraries.
Your Money Bus will park from 11 a.m. to 5 p.m. Thursday, April 23, in the north parking lot of the College of DuPage in Glen Ellyn. The moving classroom is staffed with volunteers with both informative handouts and advice. Details are at yourmoneybus.com.
A vital topic is on the agenda at 6:30 p.m. today at Family Counseling Service, 70 S. River St., Aurora, entitled "Foreclosure Prevention, Credit Matters and Homeseeker Seminar."
"Saving and Investing in Turbulent Times" will be discussed at noon Tuesday, April 21, at the University of Illinois Extension, 1100 Warrenville Road, Suite 170, Naperville, as well as at its locations in St. Charles and Yorkville.
Two movies regarding credit card use will be shown at 6 to 8:30 p.m. today and Tuesday, April 21, at Benedictine University in Lisle. There is even a program that will train teachers, churches, agencies and home-schooling parents on a financial education curriculum for young people. Check the programming guide for details.
"Choosing a Financial Planner" is the topic at 6:30 p.m. Thursday, April 23, at National-Louis University, 850 Warrenville Road, Lisle.
The Be Money-Smart Booth at the Clinic at Trinity Lutheran Church, 1101 Kimberly Way, Lisle, will have English and Spanish speaking activities from 10 a.m. to 2 p.m. Saturday, April 25, to help youth discover the benefits of savings.
Money Smart Week will demonstrate that money management skills and financial wherewithal increase through education. From maintaining a family budget to learning the rules for taking distributions from tax-deferred retirement plans, the calendar of events has something for everyone. Learning is key.
Ben Franklin might smile knowing Money Smart Week is investing time and resources in spreading so much knowledge.
• Joan Broz writes about Lisle. E-mail her at jgbroz@yahoo.com.