Bus tour offers free financial help

April 23, 2009 The Your Money Bus Tour rolled onto the campus of the College of DuPage on Thursday morning.

Onboard were financial advisors armed with toolkits to help consumers with debt reduction and advice how to boost savings accounts.

Just about everyone is concerned about some financial issue. Some of the unease is related to making the right decision. On Thursday, some suburban residents get free professional advice.

The money bus stops at College of DuPage. Over the next two days, 30 financial advisors will offer free advice. It's part of nationwide tour to help Americans save money and manage their finances.

On Thursday, there were several visitors with concerns about sending children to college.

The Mercaldos will be sending their son Sam to college next year.

"Wondering what college will be like for your child, how you're going to pay the bills, how much the bills are going to be," said Luke Mercaldo, parent.

The Stringers will send their daughter Jessica as well.

"We have very limited income to work with. We just want to see what's out there for assistance for her statewide and federalwide," said Rodney Stringer, parent.

"There might be some painful choices that the kids are going to have to make about where they want to go to school. It's really important right now that parents sit down with their kids and talk about what they can afford," said Cheryl Krueger, financial advisor, The Money Bus Tour.

From retirees, there are many questions about insuring their financial future.

I don't know how much money i can put aside for health care. And meanwhile still keep my living standards," said Lydia Wang, retiree.

"I'm a big believer in stocks as opposed to bonds. And I'm going to ask for her to reassure me that we're doing it correctly," said Morris Ferensen, retiree.

"If you have had a decrease in your portfolio because you have some stocks in there, it's really important not to just get scared and sell everything now, because you are going to need some additional accumulation in your funds," said Krueger.

Another common question: how to find a financial advisor? The National Association of Personal Financial Advisors offers recommendations of advisors in your area. All participants on the money bus tour are members. They are fee only, meaning they don't take a commission for selling you financial products.

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