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NFCC Blog: Staying the Course

Credit Counselors Coach You in Your Effort to Defeat Debt

By Drew Kessler When you’re struggling with increasing debt and aren’t having any luck getting your creditors to work with you, it may be time to reach out to a certified consumer credit counselor. Meeting with one is often free, and as your third-party advocate, they can offer the support and expertise you need to conquer crippling debt. What Does a Credit Counselor Do? “When people deal with credit card …Read More

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Yours, Mine and Ours: Planning Stepfamily Finances

By Jason Alderman The Pew Research Center reports that four in ten American adults have at least one steprelative, defined as a stepparent, a step-or-half sibling or a stepchild, in their family. While the Pew study says that many stepfamilies operate harmoniously, it also notes that adults “feel a stronger sense of obligation to their biological family members than they do to their step kin.” That is one reason why …Read More

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Student Loan Borrowers Don’t Know What They Owe

By Jesse Campbell Here’s the scene: you’re closing on your dream house. The bank’s approved you for a loan. They present you with a stack of paperwork and begin to explain the terms and conditions of your mortgage. “Nah,” you say. “I’m good. Where do I sign?” “Don’t you want to know what you’re signing up for? The loan amount? The interest rate? The good faith estimate? Anything?” “Nope,” you …Read More

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Recovering from Holiday Overspending

By Mark Foster Uh oh. You’ve blown it. You overspent on the holidays, and now it’s a struggle making ends meet in January. The fallout from spending too much can be expensive and painful. But now the big question is how do you get back on-track? Make a game of it. For one month, try not to spend money on anything that isn’t a necessity. No way? At least try …Read More

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Five Ways to Teach Your Children About Credit Cards

By Stacy Johnson Teach from an early age Using a credit card isn’t a taboo topic to be whispered about behind closed doors. Even at 5 years old, our daughter watches me and my wife use our credit cards at stores – and we explain to her that we’re spending real money we worked hard to earn. The lesson here, lost on some adults, is that there’s a direct relationship …Read More

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Where Do You Financially Stand in 2015?

By Gail Cunningham As the holiday spending bills begin arriving, many consumers choose to bury their heads in financial sand, ignoring the fact that their credit card balances are growing and their savings account balances are diminishing. The NFCC suggests that consumers begin 2015 by taking the following quiz to see where they stand financially, thus allowing them to promptly address any problems that are revealed. If financial assistance is indicated, …Read More

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IRS Pension Update: New Limits for 2015

By Jason Alderman Recent surveys indicate the majority of the American public is nowhere near a comfortable retirement. One of the more attention-grabbing personal finance headlines this year came from Bankrate.com, which reported in August that one-third of Americans have less than $1,000 saved for retirement. It pointed out that 14 percent of the population aged 65 or older have no retirement savings; the case is the same for 26 …Read More

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How Do I Quickly Pay Off Student Debts?

By Melinda Opperman For an entire generation, excessive student loan debt is like a millstone chained around one’s neck. With so much debt hanging over their heads just as they start out in the working world, many of today’s recent graduates want to know how to pay off student loans quickly. Because the amount of debts we’re talking about are typically very large, there’s not quick shortcut to getting out …Read More

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Smart Financial Moves for Transitioning Vets

By Jason Alderman The latest generations of veterans face a particularly complicated financial picture, attributed to multiple deployments, a tough civilian economy, predatory lending threats at home, and disability and health issues. That’s why the Veterans Financial Coalition was formed in June 2014 by a diverse group of organizations including Visa’s Practical Money Skills for Life, Association for Financial Counseling and Planning Education (AFCPE), Consumer Action, and the Consumer Federation …Read More

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The Dangerous Appeal of Subprime Credit Cards

By Jesse Campbell Do you remember the early months of 2014? They were cold. Really cold. Cold enough, economists have suggested, to actually freeze the economy. Well, maybe “freeze” isn’t the right term. Cool down. The first quarter of 2014 showed a significant spending slow down, very likely related to the weather. It was very cold. People didn’t want to leave the house and visit retail stores, or so the …Read More

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