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NFCC Blog: Staying the Course

Financial Education Workshops for Military Exceed Anticipated Demand

By Bruce McClary In January 2016 the National Foundation for Credit Counseling (NFCC) partnered with the American Library Association (ALA) to serve active members of the military, veterans and their families. NFCC member agencies are working with local libraries to offer financial education workshops that use the Wells Fargo Hands on Banking® for Military (HOBM) curriculum, access to personalized counseling, and other resources that help families reach their financial goals …Read More

Four Tips to Improve Your Financial Future

      By Katie Ross, Education & Development Manager, American Consumer Credit Counseling, Inc.   Many Americans are struggling financially – compounded by poor financial habits that are leading to more debt and limiting their ability to save. Just 40 percent of adults in the U.S. keep a budget and track their spending, according to the NFCC. Just as troubling, at least 20 percent of Americans spend more than they …Read More

Credit Card E-Statements: If You Go Paperless, Do It Right

By Ellen Cannon of NerdWallet You do everything electronically and rarely get anything you want by snail mail. You do your banking from your smartphone. Now your credit card issuer is urging you to opt out of receiving paper statements each month and switch over to electronic statements entirely. Should you? American consumers have embraced online banking since banks began offering it in the early 2000s. Electronic statements appeared shortly …Read More

The Last Word on Financial Literacy Month: National Survey Reveals Small Gains in Savings but More Americans Carrying Credit Card Balances

By Bruce McClary The National Foundation for Credit Counseling (NFCC) and BECU, the nation’s fourth largest not-for-profit credit union, have released the results of the 2016 Financial Literacy Survey. Conducted online in March and April 2016 on their behalf by Harris Poll, the survey includes responses from more than 1,600 U.S. adults ages 18 and over. In its tenth year, the report provides a fresh look at the American consumer’s …Read More

Researchers from The Ohio State University reveal the impact of credit counseling.

Since its launch in 2013, the Sharpen Your Financial Focus (Sharpen) initiative of the National Foundation for Credit Counseling (NFCC) has impacted the lives of more than 60,000 American consumers, helping them identify and resolve immediate financial concerns, gain a deeper understanding of financial literacy and debt management, and move toward long-term financial stability. To measure the extent of its impact, an independent, scientifically based evaluation was conducted by researchers at …Read More

Study: Why Millennials Are Waiting to Buy a Home — for Now

By Deborah Kearns of NerdWallet They’re graduating from college, starting new jobs, getting married and having kids. But one life goal that’s eluding a lot of millennials is homeownership, according to a new NerdWallet white paper. It’s not that millennials don’t want to own a home. In fact, NerdWallet, a personal finance website, found that most millennials would like to buy a home but think they can’t afford it. In its analysis, …Read More

Libraries and NFCC members work together to help those who serve our country

By Bruce McClary Members of the U.S. armed forces, Coast Guard, veterans, and their families face financial challenges often not adequately addressed by resources designed for the general public. Recent preliminary data from the Sharpen Your Financial Focus® (Sharpen) program reveals military families face unique challenges. For example, military Sharpen participants had higher unsecured debt balances ($400-$500 more) than the average Sharpen participant. Fewer tangible assets and higher debt-related expenses …Read More

Where Can You Afford to Live Based on Your Occupation?

By Jennifer Riner of Zillow Finding careers that are both financially profitable and emotionally gratifying can be difficult. Some people choose to undergo years of higher education to land high-paying careers early on and ensure substantial financially success later in life – yet their efforts may not necessarily be based on personal passions. Others might choose median-income level professions they are avid about, making work feel more like a hobby …Read More

Winning the Mini-Powerball (a.k.a. Getting a tax refund)

By Mark Foster Did you know that last year the average tax refund was $3,034? Oftentimes when people get a large tax refund, it’s treated like a little lottery winning. We have seen people get a large refund of $3,000, $4,000 or more but spend it all within a few months and not improve their financial situation much, if at all. It’s okay to have some fun with your money – …Read More