Budgeting seminar aids women

By HOLLY SCHOENSTEIN

The seminar offered sessions that focused on women and money.

YOUNGSTOWN — “Do you want to know how old I was when I said ‘Charge it!’ for the first time?” Mary C. Hurlburt, director of community outreach for Consumer Credit Counseling Services, asked a group of about 25 women. “I was 5!”

Hurlburt, who gives presentations on budgeting and money management for the nonprofit community service agency, joined presenters from various companies and state departments Friday at a free seminar hosted by Ohio Treasurer Richard Cordray’s office at Kilcawley Center at Youngstown State University.

Sessions about budgeting, kids and money, saving for retirement, credit and debt, insurance, Social Security, elder care, homeownership, investments and identity theft were offered.

About 250 women were expected to attend.

“Treasurer Cordray understands that people all over Ohio are being squeezed financially,” said Holly Hollingsworth, director of media relations for Cordray’s office in Columbus. “Our state’s economy is in a tough spot.”

The seminar focused on women and money because women make less money than men, their life expectancies are longer than those of men [resulting in longer retirements], and they are more likely to take time away from work to care for their families, Hollingsworth said.

Hurlburt explained how to create a spending plan in a session on budgeting. She stressed that consumers need to find tools that work for them.

Among the techniques that can lead to successful budgeting are pay yourself first, make mortgage payments a priority over credit card payments, avoid taking out home equity loans and plan for periodic expenses, defined as those that do not occur regularly, such as major car repairs or health emergencies.

Carole Marsh, 59, of Burghill said Hurlburt’s session about budgeting was helpful.

“I thought she was very vibrant and told a lot of personal stories. She used realistic examples,” she said.

The seminar, which has been offered every year since 2000, appears to be popular among Ohio women.

At least 50 percent of the women who have attended the seminar in previous years register again, Hollingsworth said.

In the session about kids and money, Candice Definbaugh, a marketing representative for the Ohio Tuition Trust Authority, spoke about getting children involved in budgeting and saving for college tuition.

She said allowances can be helpful learning tools if included in family budgets.

Definbaugh also advised when children reach working age, parents may consider having them save a portion of their paychecks.

Youngstown is the second stop for the Women and Money seminar, which will be offered throughout the state this summer. It is scheduled for Akron on Aug. 15 and Cleveland on Aug. 22.

More information on upcoming Women and Money seminars can be found at www.yourmoneynowonline.org or by calling (800) 228-1102.

hschoenstein@vindy.com