Retirement changes just about everything.
The alarm clock and day-planner no longer rule your life. Weekends once offered the only time for chores; now, they can be done whenever it’s convenient. Even what day it is matters less and less.
But one change catches many people off guard: Their relationship with their money changes completely.
When you’re working, you’re saving for retirement. When you’re retired, you’re spending that money you’ve diligently saved. Shifting from saving to spending is a tectonic mindshift. Am I spending too much? Could I spend more if I need to?
You may have had good money management habits but new skills are now needed. Many Champaign-Urbana businesses and organizations are ready to help.
Busey Bank’s Customer Education Series is a quarterly opportunity to learn more about a featured financial topic. These complimentary webinars address a wide range of topics and provide a platform for you to ask a Busey expert questions about the featured topic.
The CRIS Money Management program utilizes well-trained volunteers to work with seniors on budgeting, sorting through mail, checkbook balancing, and bill paying. This program assists adults age 60 and over who need assistance due to physical or mental disabilities, unpaid bills, inability to read or write, loss of home due to foreclosure, or threats of utility shut-off. The volunteer can go to the home of the senior each month and assist with the financial needs of the client.
The Land of Lincoln Legal Assistance Foundation handles civil law matters for eligible low income and senior residents of 65 Central and Southern Illinois counties. Its Champaign office is at 302 N. First Street. Call (217) 356-1351.
Salt and Light Ministries offers a 12-week course at its Urbana store specifically designed for those who feel trapped financially and want to learn practical steps to freedom. They focus on being a community of learning about: money management skills, overcoming financial obstacles, setting savings goals, managing debt, living by a budget, establishing credit, and basic banking skills.
Members of the University of Illinois Employees Credit Union can take advantage of the Balance Program, an over-the-phone financial counseling and education program.
Sponsored by University of Illinois Extension, the Money Mentors program is a network of trained volunteers who work one-on-one with individuals who request help with personal money management.
Navicore Solutions was founded in New Jersey to strengthen the well-being of individuals and families through education, guidance, advocacy and support. The company’s on-line financial library covers personal finance topics including budgeting, managing credit and debt, insurance, housing and retirement. The firm has an office in Peoria.