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Founded in 1951, the National Foundation for Credit Counseling is the largest serving nonprofit financial counseling organization. Find various topics in this blog, including personal finance, credit counseling, housing, budgeting and student loan help. Click here to speak with an NFCC-certified Consumer Credit Counselor.

The 10 Golden Rules Of Saving On Everything

1. Never buy new what you can buy used. That brand-new sparkle comes at a high price, on everything from cars to furniture to clothes. Let somebody else take the hit. Instead of heading to the department store, head to the consignment store, thrift shop, yard sale, or sites like Craigslist or eBay.  2. Never buy this generation when last generation will do. Ignore the commercials that entice you to …Read More

Temporary Holiday Income May Buy Consumers The Gift Of Financial Stability

By Gail Cunningham It is estimated that close to 500,000 people may find temporary employment  this holiday season, putting some much-needed money into the wallets of consumers who haven’t had a paycheck in months.  There will be many legitimate uses for this money, but it will only stretch so far.  Therefore, the NFCC suggests prioritizing the use of this money in the following order:  Bring all living expenses current – …Read More

CFPB Proposes Two-Page Credit Card Agreement

The Consumer Financial Protection Bureau (CFPB) wants the public to weigh in on the prototype that, if approved, would be optional for issuers. Instead of an average 5,000 words in disclosures, this form averages 1,000 and the information is broken down into costs, changes and additional information. Fees and interest rates are displayed prominently, upfront and in bigger type. A separate set of definitions would be available online or in …Read More

Tax Deadline Looms for Charitable Contributions

By Jason Alderman Each year, roughly one-third of American households itemize deductions on their federal income taxes. If you’re among that group, there are several important actions you need to take by year’s end in order to take full advantage of available deductions. For example, by December 31, 2011, you must pay for any uninsured medical expenses, state and local income and property taxes, and unreimbursed employee expenses you want …Read More

How To Mess Up Your Financial Life

By Matt Bell I thought I knew a thing or two about making financial mistakes.  After all, I’m the guy who once received a $60,000 inheritance and turned it into $20,000 of credit card debt.  And it only took me two years! I messed up with money the old fashioned way.  I didn’t pay attention to my income and expenses and blindly went about living beyond my means. But I …Read More

NFCC Poll Reveals Forty Percent Of Americans Will Spend Zero on Holiday Purchases

By Gail Cunningham The November poll hosted on the NFCC website, www.DebtAdvice.org, revealed that 40 percent of respondents do not intend to spend any money on holiday purchases, as they anticipate experiencing further financial distress in the future. The poll sends a strong signal that in spite of the increase in sales during Black Friday and Cyber Monday, a significant number of people lack enough confidence in their financial future …Read More

Energy-Efficiency Tax Credits Expire Soon

By Jason Alderman Senior Director, Global Financial Education, Visa, Inc. If you haven’t already jumped on the home energy-efficiency bandwagon, the good news is that several federal energy tax credits originally slated to end in 2010 were extended through December 31, 2011; but the not-so-good news is that these credits are worth significantly less and are more restrictive than before. All is not lost, however, since several additional credits (outlined …Read More

Get Money Chic This Holiday Shopping Season With Tips On Saving Money

Please join Girls’ Lunch Out, WestGlen Communications, and the National Foundation for Credit Counseling on Twitter Wednesday, December 7 at 9 pm ET to talk about holiday spending, get holiday spending tips, and learn tools for saving money to help you become  “Money Chic” this holiday season and throughout the entire year. The NFCC provides financial counseling and education on all things money like smart spending during the holidays, how …Read More

Study Indicates that Holistic Financial Counseling Significantly Improves the Performance of Distressed Mortgage Loan Portfolios

  Mortgage investors and servicers can avoid hundreds of millions of dollars in losses by providing borrowers with counseling that lowers monthly spending and frees up cash New research by the noted STRATMOR Group reveals that providing holistic financial counseling to borrowers who are at risk of default and foreclosure can not only prevent foreclosure, but also can reduce re-default rates for borrowers. According to the November 2011 study, holistic …Read More

How to Get Jobs You Didn’t Know Existed

While you’re busy scouring job websites online, did you know that the majority of job listings won’t pop up in your search? 80 percent of available job positions aren’t listed, according to the founder of CollegeRecruiter.com, Steven Rothberg. This brings us back to the importance of networking. Diligently looking for jobs online is helpful, but using your network of friends, family, and work buddies will help you see results faster. …Read More