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Tag Archives: Financial Education

Make Sure Your Financial House Is In Order

Yesterday over 100,000 Americans went online to watch President Obama answer live questions from Twitter users for the first “Twitter Town Hall.” For an hour, he answered questions from consumers about the economy. According to the White House, most of the questions concerned jobs (23%), the budget (18%) and taxes (11%). It seems that Americans are concerned about getting the budget back under control, and much like the national budget, …Read More

NFCC Financial Distress Test

Although many people know what they should do when they are in financial trouble, realizing when that action is necessary can be trickier to figure out. The NFCC suggests that consumers take the following quiz. The results will reveal whether or not they need to seek professional help to avoid falling into a deeper financial quagmire. If financial assistance is indicated, consumers can reach out to an NFCC member agency where they will find …Read More

Last Chance To Vote On A Simpler Mortgage Disclosure

Earlier, we told you how the Consumer Financial Protection Bureau (CFPB) is striving to condense mortgage disclosure forms into one shorter, simpler form. Now, after hearing feedback from over 13,000 consumers, lenders and housing counselors, they’ve finalized drafts of two sample forms to replace the Good Faith Estimate and the Truth in Lending form. The CFPB, along with considering online input, put these forms through five rounds of tests in …Read More

The NFCC’s Crash Course On College Credit

For incoming freshmen, college means one thing: freedom. It also is usually a person’s first experience with credit cards. According to a recent study by Student Monitor, nearly two-thirds of college undergraduates acquire their first credit card before age 19. Eighty-seven percent of those are freshmen. While college is full of exciting and new adventures, the NFCC wants to remind college freshmen that these years are critical to one’s financial …Read More

The Importance Of Creating A Budget

Living without a savings account is tantamount to a trapeze artist flying without a safety net. But in our economy, many people wonder where they can find the money to save. Creating a budget is crucial to being in control of your finances because it is a simple way to monitor your expenses. However, our 2011 Financial Literacy Survey showed that just over 2 in 5 U.S. adults have a …Read More

Father Knows Best- Or Does He?

As Father’s Day approaches, many dads begin reflecting on the life skills they’re teaching their children. Nice manners, discipline and a good work ethic top many lists. Not to be overlooked, however, are financial skills, because regardless of whether they are taught formally or by example, parents pass along their financial habits to their children. This concept is confirmed by NFCC’s 2011 Financial Literacy Survey in which the majority of respondents, …Read More

Financial Spring Cleaning Tip of the Day: Don’t Overdraft Your Checking Account

Even if you have overdraft protection, this is a habit that speaks of a deeper problem that should be addressed. Write down each deposit and withdrawal in your check register, including all debit and ATM transactions. Regularly balance your checkbook, and reconcile your bank statement within one week of it arriving. If you do these things, but continue to overdraft your account, the overdraft is no accident. Do not continue …Read More

Financial Spring Cleaning Tip of the Day: Get Financially Organized

Sometimes people become so overwhelmed that they bury their head in the financial sand. Not only do they neglect paying their bills on time, they don’t even open their monthly credit card statements. Such habits result in late fees, a tarnished credit report, and a lower credit score. Become financially organized by creating a cash-flow calendar where you record each payday for everyone in the home who earns money. Next, …Read More

If You Do Choose to Use Cards, Choose Wisely

I believe one of my greatest attributes is that I’m a realist. And, as a realist I know you are going to use plastic to make purchases, and that’s perfectly fine as long as you don’t let the plastic ruin your life. But before you decide on the type of plastic to use consider the following pros and cons of each. Retail Store Cards – These are cards issued in …Read More