How to Handle a Furlough: Develop a Plan

Barbara O’Neill, Ph.D., CFP®, AFC®

Extension Financial Management Specialist and Distinguished Professor Emeritus, Rutgers University

Sometimes, just as people are making progress to improve their finances one small step at a time, something happens to set them back. For some people in today’s difficult economic climate, that setback is a furlough.

Furloughs (also known as “temporary layoffs”) have been in the news a lot lately and are being used by both public and private sector employers. In some cases, furloughs …

Ten Steps to Seven Figures

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

oneill@aesop.rutgers.edu

April 2019

Ten Steps to Seven Figures

One of the most frequently cited purposes of investing is to build wealth for future financial goals such as a new car, a college education for children, and financial security in later life. Many people even have a specific dollar amount in mind such as having $1 million saved by the time that they stop working. 

 

Below are ten recommendations to …

Monthly Investment Message: February 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

oneill@aesop.rutgers.edu

February 2017

Factors That Affect Investment Risk Tolerance

To help investors objectively assess their investment risk tolerance, Rutgers Cooperative Extension has an online Investment Risk Tolerance Quiz at www.rce.rutgers.edu/money/riskquiz 

Developed by Dr. Ruth Lytton at Virginia Tech and Dr. John Grable at the University of Georgia, the quiz has 13 multiple choice questions and provides users with instant feedback about their capacity to handle investment risk. 

 

The questions …

What are Student Loan Borrowers Thinking? Insights from Focus Groups on College Selection and Student Loan Decision Making

Johnson, C. L., O’Neill, B., Worthy, S., Lown, J. M., Bowen, C. F. (2016). What are student loan borrowers thinking? Insights from focus groups on college selection and student loan decision making. Journal of Financial Counseling and Planning, 27(2), 184-198.

Brief Description: This study used data from online focus groups to understand college students’ decision-making process when borrowing money to finance their education. Respondents were asked eight questions regarding their college selection and student loan decision-making. Results suggest that (a) …

Monthly Investment Message: May 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

oneill@aesop.rutgers.edu

May 2017

The Benefits of Being a Future-Minded Planner

Want to be a successful investor? Develop your future-mindedness. That is the conclusion of a recent study that found a connection between positive financial behaviors, such as saving and investing, and impulsiveness and materialism.

When people focus on their future they tend to be less impulsive spenders, regardless of their level of financial literacy. In fact, the strongest predictor …

Monthly Investment Message: June 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

oneill@aesop.rutgers.edu

June 2017

Income Taxes on Investment Profits

A high priority financial goal for many people is to have a comfortable lifestyle in later life. Investing can help. Most people do not become wealthy from their earnings alone but, rather, by investing a portion of their income and letting it grow for several decades. Through a combination of regular investment deposits and compound interest, it is possible to build …

Monthly Investment Message: August 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

oneill@aesop.rutgers.edu

August 2017

Retirement Planning is a 40-Year Journey

The retirement planning process has been described as a “40 (or more) year journey” from the start of someone’s working life in their 20s through retirement in their 60s (or beyond). However, it is actually much longer, if you consider how long someone can live during retirement. Unlike shorter-term financial planning goals like buying a car, a house, or saving …

Data Breaches, Credit Freezes, and Vigilance

Credit Freezes: Description, Pros and Cons, and Contact Information for Credit Reporting Agencies

Members of the Financial Security for All Community of Practice (FSA CoP) and our educational partners have developed research-based and experience-tested materials to help Americans deal with the aftermath of the Equifax hack. Below are links to their online blogs and publications:

Equifax Security Breach: Steps to Protect Yourself (Lisa Leslie, University of Florida IFAS Extension):
     http://blogs.ifas.ufl.edu/hillsboroughco/2017/09/15/equifax-security-breach-steps-protect/

To Freeze or Not Freeze My Credit Report (Kathy Sweedler, …

Monthly Investment Message: November 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

oneill@aesop.rutgers.edu

November 2017

The Benefits of Financial Health

This article is adapted from a previously written blog post for the eXtension Military Families Learning Network: https://militaryfamilies.extension.org/2017/06/27/what-financial-health-means-to-me-ned/

After a successful course of treatment, many doctors tell their patients that their physical health status is NED, which is doctor-speak for No Evidence of Disease. The same NED acronym can also be applied to a person’s financial health: …