College Savings

Treasurer Frerichs marches down a street at the Illinois State Fairgrounds during the twilight parade as crowds line the street.

A Few of My Favorite Fair Memories

As a kid, I always looked forward to the Champaign County Fair in late July. I loved the rides: the bumper cars, the tilt-a-whirl, and the potato sack slide. I loved the food: the corn dogs, the elephant ears, and all things fried. I loved the grandstand shows: the tractor pulls where my family would sometimes compete, the motorcycle races, and the demolition derby. And I also loved the games where you could win a prize: the ring toss, shooting…

Read MoreA Few of My Favorite Fair Memories
Treasurer Frerichs as a boy, around age 8, climbing the stairs to exit a swimming pool

Helping You Build Good Money Habits

The 1980s seemed to be peak suntanning culture in America. In movies, the cool kids had a deep, dark tan. The ads for sunscreen focused on getting a nice even brown. In the summer, it seemed like everyone was grabbing some rays, and in the winter, tanning beds were a thing. I got caught up in the craze. I never visited a tanning salon, but I also rarely used sunscreen. I don’t think the sun’s harmful effects were clear to me…

Read MoreHelping You Build Good Money Habits
Twin toddler boys sitting on a chair, each holding a book

Comparison Is the Thief of Joy

After I wrote about the boys’ birthday, a few people asked me what their favorite toy was. It’s different every day, but without question their current favorite toy is the one their brother is playing with. And we often experience a meltdown when their brother does not relinquish it to them. The toy could have been sitting at the bottom of the toy chest for months, out of sight and out of mind. But as soon as their brother has…

Read MoreComparison Is the Thief of Joy
About 20 people standing and posing in front of a curtain on a stage

Illinois Among Founding Partners of New Consortium to Expand Participation in 529 Education Savings Plans

State Treasurer Michael Frerichs Proposed the Idea While Serving as President of the National Association of State Treasurers The University of Chicago Becker Friedman Institute for Economics (BFI) and Stanford University Initiative for Financial Decision-Making (IFDM) are partnering with the National Association of State Treasurers through its education savings network, The 529 Network, with support from the National Endowment for Financial Education, to launch a new consortium dedicated to advancing research on public understanding of 529 education savings plans and…

Read MoreIllinois Among Founding Partners of New Consortium to Expand Participation in 529 Education Savings Plans
Twin toddler boys riding small bikes on a sidewalk

The Days Are Long but the Years Are Short

When people ask how I am doing these days, I often respond “exhausted.” My job keeps me very busy and I enjoy it, but it’s not why I’m tired. Our twins are almost 3, and although I love them very much, I suspect they might be stealing energy from me. I don’t know how else to explain how at the end of the day, they seem to have so much, while I have so little left in the tank. They…

Read MoreThe Days Are Long but the Years Are Short
Child holding a blue piggy bank. In the background are logos for Bright Start 529 and Bright Directions 529

In Observance of National 529 Day, Illinois Treasurer Michael Frerichs Encourages Families to Save for Higher Education Costs

Saving Even a Little Today Can Help a Child Avoid Years of Student Debt Tomorrow SPRINGFIELD – Illinois State Treasurer Michael Frerichs is recognizing 529 Day today, May 29, by encouraging families to save for future education through Illinois’ highly rated Bright Start 529 or Bright Directions 529 college savings plans. Frerichs also announced new enhancements to the advisor-guided Bright Directions 529 plan. “While ‘529 Day’ is tied to the calendar date of May 29, the observance highlights the importance…

Read MoreIn Observance of National 529 Day, Illinois Treasurer Michael Frerichs Encourages Families to Save for Higher Education Costs
Mila the dog in the snow

Our Family Feels a Little Smaller

Mila, our family dog, passed away six months ago. It came soon after I last wrote about her. I thought I would share this news sooner, but Mila’s passing has been more difficult than I imagined. I was in the first grade when my friend’s dog bit me on the leg. I had a fear of dogs for a very long time, and it would be fair to say that I was not a dog person. When I met Erica,…

Read MoreOur Family Feels a Little Smaller
Two young boys sitting in an easy chair and smiling

Playing Hooky and Saving for College

Like many kids, my older brother went through a period where he didn’t like going to school. He became pretty creative about finding ways to skip class. School was so close, he didn’t even have to cross a street. On the way, he stopped at a relative’s house and never made it to school. When Mom found out, she started driving him. I hadn’t started kindergarten yet, so I went with them. One morning when we pulled up to school,…

Read MorePlaying Hooky and Saving for College
A young Treasurer Frerichs, around age 12, running a race outside with other boys

Start Saving Today for Your Kids’ Tomorrow

In my last note, I wrote to you about running track, and some people asked if I did the “field” part of track and field. The short answer: Yes, but there was room for improvement. I think I was the tallest fifth grader when I went out for the track team. I had long arms. My dad was tall, and his dad was tall. Coach knew this and decided I should throw discus. Sure, I was skinny, but his logic…

Read MoreStart Saving Today for Your Kids’ Tomorrow
Treasurer Frerichs as a boy around age 12 running a race outside with other boys

Pushing Ourselves to Improve

When I was a kid, the sign outside my hometown read “Gifford 800.” My eighth-grade class at Gifford Grade School was about 24 kids. And we were a big class. So it’s no surprise I didn’t have a lot of choices of sports to play. In the fall, the only option was baseball. In the winter, basketball. In the spring, track and field. I wasn’t that good at baseball, but I enjoyed being part of a team with my friends.…

Read MorePushing Ourselves to Improve