Women, how prepared do you feel in making wise financial decisions?  According to the 2012-2013 Prudential Research Study on financial experience and behaviors among women, only 22% of women felt “very well prepared” to make wise financial decisions (compared to 37% of men).

Fortunately, you don’t have to be one of these women.  Virginia Cooperative Extension, in partnership with Arlington Public Libraries, will be holding a five-week course called Money Talk: A Financial Course for Women, at Arlington Central Library, starting Wednesday, July 10.  This course will show you how to plan now for long-term financial security.  Lessons cover the following topics:

July 10: Financial Basics
July 17: Are You Covered? Insurance Basics
July 23: Investing Basics
July 31: Investing for Retirement
August 7: Planning for Future Life Events

One past participant raved “It was a great course! I learned so much that I would never have otherwise. It’s a course that I feel like should be a part of everyone’s required education.”  Since 2006, Money Talk participants have saved over a combined $300,000 for their future.

The course is free, but the optional accompanying textbook is $25.

So are you ready to arm yourself for your financial future?  Complete the registration form here: http://offices.ext.vt.edu/arlington/news/money-talks-info/money-talk-2013-flyer.pdf  and send to Jennifer Abel at jabel@vt.edu, or call 703-228-6417 for more information.

http://offices.ext.vt.edu/arlington/news/money-talk-2013.html

Do you have CHAOS (Can’t Have Anyone Over Syndrome) in your home? VCE Agent Jennifer Abel visited Alexandria’s West End Wellness Center today to share with 40 participants how to reduce clutter in their lives.

Clutter can lead to mental anguish, physical hazards (potential for fires, tripping, etc.), and even health issues like allergies or headaches, according to the American Board of Behavioral Psychology. An issue of Mother Jones found that we spend 55 minutes a day looking for things we know we own but can’t find. We can’t even fit all of our belongings in our home; the demand for self-storage has skyrocketed in the last decade. Financial strain is also common, not just because you’re paying for extra storage, but because you incur late charges when you can’t find that bill that’s overdue, or you’re eating out more because it’s just easier than cleaning the kitchen.

So what should you do? Jennifer shared some tips we can all use at home:

1. Get real – Don’t assume you can clear up your clutter in one day. Take manageable steps by tackling one room at a time. Gather five containers: one for trash, one for recyclables, one for donations, one for items to sell, and a laundry basket for things you plan to keep that need to be returned to their proper homes. Then set a timer, and work solely on decluttering and filling these containers until that timer goes off.

2. Ask questions – When you pick up an item, ask yourself a few questions:

• How long has it been since I used this?
• Do I like it?
• Does it work properly?  Is it broken?
• Do I have more of this kind of thing?  How many do I need?
• If I keep this, what will I get rid of to make room for it?
• (For paper clutter, in particular) Can I locate this information somewhere else (probably on the internet) if I need it?

3. Get FAT – No, we’re not suggesting you pack on the pounds.  To reduce paper clutter, professional organizer Barbara Hemphill suggests using the F-A-T system, where you pick up a piece of paper and decide immediately whether you will File it, Act on it, or Toss it.

4. Reduce what you bring in to your home – The most efficient way to reduce clutter is to not even bring it in your house.  Here are a few ways to do this:

• Reduce the number of financial statements by using only one or two credit cards and consolidate multiple financial accounts to a single financial institution.
• Call 888-5OPTOUT (567-8688) to stop receiving pre-approved credit card offers.
• You can go to http://www.catalogchoice.org/ to get off specific catalog lists.
• Whenever you sign up for anything where you are providing your address, phone number, or email address (how can you resist a drawing for a free car?!?), look for boxes that let you “opt out” of receiving mailings from that company or from others.
• Contact the Direct Marketing Association’s Mail Preference Service to remove your name from mailing lists: https://www.dmachoice.org/.

Finally, celebrate success. The best way to keep your good habits going is to acknowledge and enjoy your progress. (You’ll have plenty of time for this when you’re no longer sifting through enormous piles of clutter!) If you would like to arrange a Controlling Clutter class for a group in your area (in Arlington or Alexandria), please contact Jennifer Abel at jabel@vt.edu or 703-228-6417.

Do you have any good tips to address clutter in your life? Please share your ideas!

By Megan Kuhn, Master Financial Education Volunteer

When I decided to buy my first home*, I discovered what is now my favorite savings technique.

My goal was to increase the funds for my down payment. Every time I went shopping, I would ask myself, “Would I rather buy this $85 handbag, or would I rather put more money toward my housing fund?” If I didn’t purchase the $85 handbag, I would move $85 from my checking account to my savings account. I labeled the transaction something like “victory for the house.” I did this for big and small items, even the iced coffees I resisted.

Spending money is more than splurging on a handbag or snapping up a clearance deal. It is about opportunity cost. If I buy the $85 handbag or the $3.50 iced coffee, I miss the opportunity to save (or spend) that money for something else.

*Something else I found is the fabulous first-time residence buying class that Arlington Public Schools offers through its Adult Education Program. The one-time class meets for a couple hours, and is well worth the registration fee. After the class, I felt prepared to tackle the home buying process.

On April 27 a group of 16 new Master Financial Education Volunteers completed their training and will join the more than 200 other financial volunteers currently working to provide financial counseling to individuals, teach money management classes, and help with youth financial simulations. The new volunteers are Femeia Adamson, Teresa Germann, Tyrone Grandberry, Angell Green, Jennifer Lanouette, Janet MacLaughlin, Erin Pounders, Esperanza Powers, Cyndi (Cyn) Rowan, Geri Schweider, Carol Stalun, Jack Stevens, Sandra Terronez, Johana Vargas, Brittany Woodard, and James Yap. They come with rich and varied backgrounds and a great deal of enthusiasm for helping people to become wise and successful managers of their money. If you see them out in the community please say hello and welcome them to their roles as our newest Extension volunteers. The next training for financial volunteers will be October 19 and 26, so if you are interested in signing up please contact Jennifer at jabel@vt.edu.

Wendy Peichel, the Financial Education Program Associate in the Arlington office, recently completed all of the requirements to become an Accredited Financial Counselor. This professional designation is given by the Association for Financial Counseling and Planning Education and requires a rigorous program of study, along with 1,000 professional service hours and recommendations from peers. The AFC credential adds to the credibility of the hard work that Wendy performs for Extension’s financial education programs. Wendy joins Jennifer Abel in holding this designation. Jennifer became an Accredited Financial Counselor in 2006. Congratulations to Wendy for this great achievement!