Financial Wellness

Helping you manage your money, for school and for life!

June 27, 2013
by Carissa
0 comments

Financial gains under DOMA

Wednesday’s ruling to overturn DOMA will mean major financial changes are on the horizon for same-sex married couples who reside in states that recognize gay marriage. Besides the big change to tax filing status going forward, same sex couples are now also permitted to file an amended return for the past three years to take advantage of the status retroactively. Additionally, death benefits, gift tax exemption, and health insurance (including the Affordable Care Act) will now be inclusive of all married couples.

Some issues to consider include whether or not filing jointly will benefit a couple, and if a married status will help or hurt couples under the Affordable Care Act. While there will undoubtedly be more details in the coming months, here are a few good articles that summarize the preliminary DOMA financial implications from CNBC, Daily Finance, and Huffington Post.

June 21, 2013
by Carissa
0 comments

How to (and why you should!) dispute credit report inaccuracies

At the risk of sounding like a broken record, let me stress once again how important it is to CHECK YOUR CREDIT REPORT REGULARLY! Your credit report/score can be used to determine what interest rate you receive for loans or credit cards, whether or not you’re approved for an apartment or mortgage loan, and many employers are now screening credit reports to help them make hiring decisions. Clearly, mistakes on those reports can end up costing you more than you know!

CNN Money has some tips on how to start policing your reports, and what to do once you find those pesky errors. Also, you can visit the Ohio Attorney General’s website for tips on how to find a reputable credit counseling agency. For more informationon on checking your credit report, head on over to the Credit 101 section of our blog.

If you have any credit repair stories or tips, please leave us a comment and tell us about it!

June 14, 2013
by Carissa
0 comments

Test Your Financial Literacy

 In a June 4th article, the Columbus Dispatch reported that Ohio is the fourth worst in the U.S. when it comes to financial literacy.  The results were based on a financial literacy quiz, conducted as part of the FINRA Investor Education Foundation’s National Financial Capability Study.  To read more about the sad state of affairs here in Ohio, click here for the article.

If you’d like to take the financial literacy quiz and see how you measure up, just click here.  Leave us a comment and let us know how you scored!

 

June 10, 2013
by Carissa
0 comments

Fathers, are you teaching your kids about money?

In honor of Father’s Day this weekend, the National Foundation for Credit Counseling (NFCC) asks fathers everywhere to add one more item to the list of things to teach your children:  money smarts.  According to the news release, a majority of Americans say they learned about finances at home; yet almost the same number of people graded themselves with a C, D, or F in terms of their financial knowledge.  With the current state of the economy, that lack of knowledge can be disastrous for adults, and downright debilitating for our future generations if nothing changes.

Dads, if you would like to educate yourself so that you can help educate your children, the NFCC provides free or low cost counseling on a variety of financial topics.  For more information and to find a counselor in your area, read the news release or visit http://debtadvice.org/.

June 3, 2013
by Carissa
0 comments

Franklin University Scholarship Opportunities

The Office of Alumni Relations is pleased to announce 3 scholarships that are being offered to all students. If you meet the minimum requirements, all are invited to apply!

Alumni Military Scholarship

  • Current US military service member, military spouses and dependents, veterans
  • Must enroll in 2 trimesters in same academic year
  • Minimum GPA of 2.5 for undergraduate and minimum GPA of 3.3 for graduate
  • Application Deadline: September 5, 2013
  • Access the application for more information

Nationwide Insurance Corporate Connections Scholarship

  • Graduate or undergraduate student with a minimum GPA of 2.5
  • Must be enrolled in Fall 2013 and Winter 2014 terms
  • Awards start at $600
  • Application Deadline: September 5, 2013
  • Access the application for more information

1902 Leadership Circle Scholarship

  • Must complete a minimum of 12 credit hours per term unless the program is scheduled otherwise
  • Minimum GPA of 3.0
  • Recommended by a Franklin University faculty member
  • Awards start at $4,000
  • Application Deadline: September 5, 2013
  • Access the application for more information

For additional scholarship opportunities, please visit Franklin’s Financial Aid website.