By Emily Steele
During the COVID-19 pandemic, budgets were stretched tight, and every dollar counted. That’s why Illinois Extension consumer economic educators make financial discussions easy to understand so you can explore your options and make informed decisions. Around the State and close to home, we offer reliable, unbiased research-based information through live workshops and webinars.
Money Mentors volunteers help community members achieve financial goals
Financial education and coaching can make a huge difference in people’s lives. Illinois Extension Money Mentors are trained volunteers who offer free unbiased resources and quality information to help others navigate financial challenges and reach their goals. Across the state, Money Mentors advise building savings, managing credit, and organizing finances. Program participants say they experience an increase in emergency and long-term savings and an overall decrease in debt.
Nine new volunteers became Money Mentors in Grundy, Kankakee, and Will Counties teaching budgeting, debt repayment, and money management.
In Champaign, Ford, Iroquois, and Vermilion Counties, 179 community members were matched with a Money Mentor in 2021. Their local program serves a diverse group of participants with a median income between $25,000 to $34,999, with incomes ranging below $15,000 to over $150,000 annually. Participants ranged from late teens into their 70s.
Financial literacy is a lifelong journey
Becoming a good money manager requires practice and conversations. Learning about healthy financial habits at a young age can set a child up for success.
In Will County, 4-H Educator Jamita Brown teamed up with family and consumer science staff to lead the Smart Cents program for underserved youth. By completing challenges, youth learned about budgeting, saving and investing, career choices, and more. Participants went home with financial literacy learning materials workbooks, a piggy bank, and flashcards from a Black-owned local business.
Conversations with adults help young people understand the importance and power of financial management. Extension staff in Champaign County provided more than 100 families with financial picture book reading guides at community events. More than 200 eighth graders attended a three-session online webinar series on financial education for young adults.
At the college level, 13 University of Illinois students completed a financial internship with Illinois Extension. The students met with their peers to answer money questions, wrote educational blog posts, updated educational resources, and led personal finance workshops. Some of the most popular topics in 2021 included financial technology, protecting against fraud, and comparing financial institutions.
Learn more about how Illinois Extension’s financial programs and educators can help you on your financial journey at extension.illinois.edu/finances.
Emily Steele is the media communications coordinator at the University of Illinois Extension.