Buying a home can be an exciting but complicated process. Tune into this episode of Making Cents of Money to hear us talk about the basics of home buying and how to prepare yourself for this big life event!


Additional Resources:

•	Consumer Financial Protection Bureau: Owning a Home - https://www.consumerfinance.gov/owning-a-home/ 
       o Making the decision to rent or buy: https://www.consumerfinance.gov/about-us/blog/making-decision-rent-or-buy/  
       o Homeowner road map: https://files.consumerfinance.gov/f/documents/201612_cfpb_HomebuyersMilestoneMap.pdf  
       o What are all the costs of buying a home?: https://www.consumerfinance.gov/owning-a-home/what-are-all-costs-buying-home/  

•	Buy vs Rent Calculators Examples
       o Nerd Wallet: https://www.nerdwallet.com/mortgages/rent-vs-buy-calculator 
       o New York Times: https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html  
        o Zillow: https://www.zillow.com/rent-vs-buy-calculator/ 
 
•	Homeownership Assistance: Illinois via HUD: https://www.hud.gov/states/illinois/homeownership/buyingprgms

•	Related Episodes of Making Cents of Money 
      •Episode 17: Real Estate - https://soundcloud.com/idfpr/episode-17-real-estate  
      •Episode 28: Tackling Insurance! (Part 1) - https://soundcloud.com/idfpr/episode-28-tackling-insurance-part-1

Episode 36: Buying a Home!

Cryptocurrency is still new, and with new frontiers come new challenges. David DeCarlo and Jake Hamilton from IDFPR’s Office of Innovation join us on our latest episode of Making Cents of Money to discuss gaps in regulation and what can be done to help protect consumers.


Show Notes:
 
•        CFPB Publishes New Bulletin Analyzing Rise in Crypto-Asset Complaints:  https://www.consumerfinance.gov/about-us/newsroom/cfpb-publishes-new-bulletin-analyzing-rise-in-crypto-asset-complaints/
•	How Chicago Fell for Crypto: https://chicagoreader.com/news-politics/how-chicago-fell-for-crypto/
 
•	Pew Research Center: https://www.pewresearch.org/short-reads/2023/04/10/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/
 
•	Debunking the narratives about cryptocurrency and financial inclusion: https://www.brookings.edu/articles/debunking-the-narratives-about-cryptocurrency-and-financial-inclusion/
 
•	Ariel-Schwab Black Investor Study: https://www.schwabmoneywise.com/tools-resources/ariel-schwab-survey-2022
•	www.reportfraud.FTC.gov
•	www.IlAttorneyGeneral.gov
•	www.IDFPR.illinois.gov
•	www.investor.gov
•	www.theblock.co
•	www.coindesk.com
•	www.coinmarketcap.com
•	Sign up for Bloomberg Cypto Newsletter: https://www.bloomberg.com/account/newsletters/crypto
•	Track IDFPR Digital Asset Bills: Go to www.ilga.gov and search for SB 3666, SB 3670, and SB3675

Episode 78: Is Crypto The Wild West?

Last year featured some of the largest bank failures in U.S. history. In this episode of Making Cents of Money, Chicago City Comptroller (and former Illinois Director of Banking) Chasse Rehwinkel joins us to break down what went wrong, how regulators respond, and why most consumers should not be worried about ever losing the money in their bank accounts.

Show Notes:

FDIC & California Regulator Reports 
•	FDIC Releases Report Detailing Supervision of the Former First Republic Bank, San Francisco, California: https://www.fdic.gov/news/press-releases/2023/pr23073.html 
•	Review of DFPI's Oversight and Regulation of Silicon Valley Bank: https://dfpi.ca.gov/wp-content/uploads/sites/337/2023/05/Review-of-DFPIs-Oversight-and-Regulation-of-Silicon-Valley-Bank.pdf  
 Financial Institution Insurance: 
•	FDIC: https://www.fdic.gov/  
•	NCUA: https://ncua.gov/  
 Recorded Webinar: 
•	Your Financial Tool Chest: https://youtu.be/XdUgsotxCqE?feature=shared (part of the Get Savvy: Grow Your Green Stuff Series) 
 Books: 
•	Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis — and Themselves by Andrew Ross Sorkin (Book and Movie) 
•	The Continental affair: The rise and fall of the Continental Illinois Bank by James P. McCollom (Book) 

Previous Podcasts with Chasse:

•	Episode 2:  Banked or Unbanked - Choosing Financial Services for You   https://soundcloud.com/idfpr/making-cents-of-money-episode-2?si=81bc1ead8b4b425db9b2c6bfd9b7f4e0&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing
•	Episode 14: Short-selling  https://soundcloud.com/idfpr/episode-14-short-selling?si=fd95e90d0de64fb2a1743ec92a8c7cd3&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing
•	Episode 47: Community Reinvestment Act  https://soundcloud.com/idfpr/episode-47-the-community-reinvestment-act?si=0b0b179278a74e0982f396809780aa1c&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing

Episode 79: What Happens When a Bank Fails?

Graduation, first jobs, and financial transitions, oh my!
 
In our latest episode of Making Cents of Money, we’re joined again by the University of Illinois Urbana-Champaign’s Donovan Sanchez to break down first steps for that first full-time job after graduation!
 
 
Show Notes:
Previous Episodes with Donovan Sanchez
• Ep. 33 – Establishing a Vision for Your Life: https://blogs.uofi.uillinois.edu/view/7550/2108012941
• Ep. 55 – Wealth Building as a Balancing Act: https://blogs.uofi.uillinois.edu/view/7550/1517205319
Budgeting & Financial Planning
• Ep. 20 – Budgeting: https://blogs.uofi.uillinois.edu/view/7550/804394514
• Ep. 25 – Choosing a Financial Professional: https://blogs.uofi.uillinois.edu/view/7550/518681996
• Ep. 75 – Setting & Prioritizing Financial Goals: https://blogs.uofi.uillinois.edu/view/7550/1854370435
• Get Savvy – Home Buying vs Renting: https://youtu.be/x6oggcypRkE
Managing Student Loans
• Get Savvy: Student Loan Updates webinar series: https://go.uillinois.edu/repay
• Federal Student Aid Repaying Student Loans 101: https://studentaid.gov/manage-loans/repayment/repaying-101
• Federal Student Aid Loan Simulator: https://studentaid.gov/loan-simulator/
• Public Service Loan Forgiveness: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service
 
Investing, Retirement, & Job Benefits
• Ep. 12: Preparing for Retirement: https://blogs.uofi.uillinois.edu/view/7550/1801541619
• Ep. 57 – Investing to Reach Financial Goals: https://blogs.uofi.uillinois.edu/view/7550/1002945600
• Ep. 69 – Understanding Your Paycheck: https://blogs.uofi.uillinois.edu/view/7550/1213480115
• Get Savvy – Investing Webinar Recording Playlist: https://www.youtube.com/watch?v=OuslkX86bGI&list=PLc0xo-6von5TmTidS-LlEN1ygiG6WzmQF
• Get Savvy – What's Your Job Worth?: https://youtu.be/kjxKgtjWBJE
 
Establishing & Managing Credit
• “How do I get and keep a good credit score?” (CFPB, 2020): https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-and-keep-a-good-credit-score-en-318/
• Ep. 5 – Understanding Credit: https://blogs.uofi.uillinois.edu/view/7550/270248943
• Ep. 42 – Credit Access: https://blogs.uofi.uillinois.edu/view/7550/203994282
• Ep. 43 – Choosing a Credit Card: https://blogs.uofi.uillinois.edu/view/7550/295268937
• Ep. 51 – Credit Scores: https://blogs.uofi.uillinois.edu/view/7550/343469214
• Ep. 67 – What's a Credit Report Anyway?: https://blogs.uofi.uillinois.edu/view/7550/171138189
• Get Savvy – Build Credit to Your Advantage: https://youtu.be/FZGqbTavfsY
 
Financial Stress & Mindfulness
• Ep. 26 – Emergency Funds: https://blogs.uofi.uillinois.edu/view/7550/1471084251
• Ep. 31 – Financial Security and Stress: https://blogs.uofi.uillinois.edu/view/7550/1806905857
• Get Savvy – How Your Spending Can Change the World: https://youtu.be/2qcb3LKegUk

Episode 80: Building Wealth After Graduation

There’s an important deadline at the end of this month for student loans! We break down the steps being taken by the Biden Administration for borrowers that may result in loan discharge sooner than anticipated in our latest episode of Making Cents of Money.


Show Notes:

U.S. Department of Education Press Release: https://www.ed.gov/news/press-releases/biden-harris-administration-announces-additional-49-billion-approved-student-debt-relief

Biden Extends Key Student Loan Forgiveness Deadline: Why It Matters:
https://www.forbes.com/sites/adamminsky/2023/12/18/biden-extends-key-student-loan-forgiveness-deadline-why-it-matters/?sh=7386b27a6dbf

Payment Count Adjustments Toward Income-Driven Repayment and Public Service Loan
Forgivness Programs: https://studentaid.gov/announcements-events/idr-account-adjustment

Consumer Advisory: Opportunity to cancel student loan debt ends soon:
https://www.consumerfinance.gov/about-us/newsroom/consumer-advisory-opportunity-to-cancel-student-loan-debt-ends-soon/

Direct Consolidation Loan Application: https://studentaid.gov/loan-consolidation/

Episode 81: April 30th Student Loan Deadline

Did you know that Illinois Treasurer Michael Frerichs provides FREE financial education materials and programs? Listen to Financial Programs Manager Maggie Owens talk about these great resources on the latest episode of Making Cents of Money.


Show Notes

Money Minded Curriculum: https://www.illinoistreasurer.gov/Financial_Education/Money_Minded_Illinois

Financial Literacy Resources:
https://www.illinoistreasurer.gov/Financial_Education/Financial_Literacy_Resources

IL Financial Wellness Hub
https://www.illinoistreasurer.gov/Financial_Education/IL_Financial_Wellness_Hub


Financial Education Research:

Amagir, A., Groot, W., Maassen van den Brink, H., & Wilschut, A. (2018). A review of financial-literacy education programs for children and adolescents. Citzenship, Social and Economics Education, 17)1), 56-80.

Brown, M., Grigsby, J., Van Der Klaauw, W., Wen, J., & Zafar, B. (2016). Financial education and the debt behavior of the young. The Review of Financial Studies, 29(9), 2490-2522.

Kaiser, T., & Menkhoff, L. (2020). Financial education in schools: A meta-analysis of experimental studies. Economics of Education Review, 78, 101930.

Miller, M., Reichelstein, J., Salas, C., & Zia, B. (2015). Can you help someone become financially capable? A meta-analysis of the literature. The World Bank Research Observer, 30(2), 220-246.

Xiao, J. J., & O'Neill, B. (2016). Consumer financial education and financial capability. International Journal of Consumer Studies, 40(6), 712-721.

Episode 82: Free Financial Education Resources for Illinois Residents

In the newest episode of Making Cents of Money, IDFPR Secretary Mario Treto, Jr. discusses the topic of redlining and how it leads to disparities for generations. Learn what IDFPR is doing to address this serious topic and to help redlining to become a policy of the past.


Resources:

Investopedia: What is Redlining? Definition, Legality, and Effects: https://www.investopedia.com/terms/r/redlining.asp#:~:text=Redlining%20is%20the%20discriminatory%20practice,on%20their%20race%20or%20ethnicity.

Federal Reserve: Redlining: https://www.federalreservehistory.org/essays/redlining

Urban Institute: The Ghosts of Housing Discrimination Reach Beyond Redlining: https://www.urban.org/features/ghosts-housing-discrimination-reach-beyond-redlining

Rothstein, R. (2017). The color of law: A forgotten history of how our government segregated America. Liveright Publishing.


Previous episode:

-	Ep. 42: Credit Access: https://soundcloud.com/idfpr/episode-42-credit-access?utm_source=clipboard&utm_campaign=wtshare&utm_medium=widget&utm_content=https%253A%252F%252Fsoundcloud.com%252Fidfpr%252Fepisode-42-credit-access

Episode 83: Lines of Injustice: What is Redlining?

There’s a big transition happening for the Public Service Loan Forgiveness Program (PSLF)! In our latest episode of Making Cents of Money, we break down what’s happening and what this means for borrowers looking to have their college loans forgiven for public service.

Episode 36: Buying a Home!

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