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January 2012

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.

Keeping Up With Bob

By Gary Silverman, CFP® A few years ago I saw one of my favorite television commercials. In it, we see Bob. I think he’s riding a lawn mower. He has a large four bedroom home with a manicured lawn (thanks to the lawn mower), a nice new SUV (gas was cheaper back then), and a golfing membership at the country club (he really likes grass). After telling us how good …Read More

Don’t Take Advice From a Movie Character
When Putting Personal Finances in Order

By Gail Cunningham Millions will watch the upcoming Golden Globe Awards. Some will be envious of the movie stars’ talent and lifestyle.  However, even though the stars’ lives may appear glamorous, it might not be financially smart to think like some of the characters that have been portrayed on the big screen throughout the years. The NFCC reflects on the following famous movie lines and relates them to personal finance:  “Gone with …Read More

New Year Financial Goals

By Mark Foster The new year is underway. Everyone should have some kind of goal for their money, and now is the perfect time to be thinking about goals for 2012. Many people wish for good things to happen to them financially, however many take little or no action to turn those wishes into becoming reality. It is important to create a few financial goals. As hockey legend Wayne Gretzky …Read More

Finding Your Lost Money

By Jason Alderman You may not know it, but millions of Americans are owed money from long-forgotten government payments, stock sales, bank accounts, and other lost accounts. When the entities holding these funds can’t find the rightful recipients, they turn over the money to individual states, which hold it in escrow until claimed. According to the nonprofit National Association of Unclaimed Property Administrators (NAUPA), state treasuries and other government agencies …Read More

Ten Common Money Mistakes

By Stacy Johnson Everybody makes mistakes – even people who write about money for a living. Here are a few examples of money mistakes you should avoid.   1. Buying a new car. You might as well be flinging $100 bills out the window as you cruise off the lot. New cars see an instant drop in value of up to 25 percent. Buying a gently used car that has …Read More

Consumers Remain Committed
To Using Credit Cards

By Gail Cunningham According to the NFCC’s December online poll consumers remain very connected to their credit cards. When asked to rank their 2012 financial resolutions, only 6% of more than 2,300 respondents indicated that decreasing dependence on credit cards was their number one goal.  At first glance that statistic could appear to be a warning sign of future trouble. However, credit is not the problem.  Instead, it is the misuse of …Read More

New Year’s Financial Resolution Tip of the Day: Bank Your Raise

By Drew Kessler In this tight job market if you were fortunate enough to receive a bonus or better yet a pay increase remember this tip: pay yourself first! Since you were able to live on your original budget before your bonus or income increase you should be able to save and invest at least a portion of the increased income. You might also use the new money to speed up the …Read More