Tough Times in the Heartland – U of I Extension Offers Answers

by Andy Miofsky, Illinois Bankruptcy Attorney

The University of Illinois Cooperative Extension Service office set up a financial education website that provides information, advice and tips on how to organize your finances and avoid costly credit traps.

www.toughtimes.illinois.edu

The site shows you how to compare the cost of borrowed money by looking at the Annual Percentage Rate APR on loans.  You can learn how much that $300 television set will cost you $780 in payments from the Rent to Own store.  And you will learn why you should avoid Refund Anticipation Loans, Pay Day Loans and other high interest gimmicks.   You can also find information about workshop events located throughout Illinois.

This is a comprehensive website designed to educate you about ways to save money and how to avoid wasting what precious money you have.  This is a good place to start learning how to make the right financial choices.