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Financial Literacy Survey Reveals Troubling Contradictions

The results of the National Foundation for Credit Counseling’s (NFCC) fifth annual Financial Literacy Survey released this week suggest some troubling contradictions. Reversing the trend witnessed over the past few years, 26 percent of U.S. adults now report that they are spending more than they did one year ago, shedding some of the more conservative spending habits they adopted during the recent recession. At the same time, more than two …Read More

Senate Resolution Recongnizes April as Financial Literacy Month, Mentions NFCC

112th CONGRESS 1st Session S. RES. 121 Designating April 2011 as `Financial Literacy Month’. IN THE SENATE OF THE UNITED STATES March 31, 2011 Mr. AKAKA (for himself, Mr. ENZI, Mr. BARRASSO, Mr. BAUCUS, Mr. BLUNT, Mr. CARDIN, Mr. COCHRAN, Mr. CONRAD, Mr. CRAPO, Mr. DURBIN, Mrs. HAGAN, Mr. INOUYE, Mr. JOHNSON of South Dakota, Mr. KOHL, Mr. LAUTENBERG, Mr. MENENDEZ, Mr. MERKLEY, Mrs. MURRAY, Mr. SANDERS, Mr. SCHUMER, Mr. …Read More

Financial Literacy Month Chock Full of Events and Activities for Consumers

As you may or may not know, April is Financial Literacy Month.  Here at the NFCC, we try to live every month as though it were Financial Literacy Month.  But at the same time, we also know that you may not.  To that end, the NFCC and its Member Agencies are maximizing the opportunity to highlight financial education to consumers through a series of events this month, including: Release of National …Read More

Recovering from Bankruptcy

Getting on with one’s financial life after bankruptcy can be pretty hard.  Bankruptcy has either completely or partially discharged your debts. On the other hand, your bankruptcy also will have some unpleasant side effects. But the most important fact about your bankruptcy is that it has given you an opportunity to retake control of your financial life. Live a Richer Life was written with the bankruptcy filer in mind but …Read More

Bankruptcy: What You Need to Know Before You File

Bankruptcy offers benefits, but it also carries significant consequences. The decisions you make when facing financial difficulty will affect your life for many years to come, so it is important to approach the issue of personal bankruptcy with care. More Than One Way Out does not provide “right” or “wrong” answers because the solutions to individuals’ financial problems will vary with their personal circumstances. It discusses the consequences of bankruptcy, …Read More

Better Fortunes

Managing your money and maintaining a state of financial health can be hard.  It can be harder still these days as we slowly emerge from the recession and tough economic conditions of the past few years.  It can lead to a lot of stress. If you feel financial stress or want to avoid financial stress in the future, even if that stress is related to events beyond your control, this …Read More

Keys to Homeownership

For many, owning their own home is the American dream. It also is one of the largest purchases you will make in your lifetime. If homeownership is your dream, it can become a reality with realistic goals, sound advice, careful planning, and a clear understanding of the costs involved. Did you know the average net worth for a homeowner is in excess of $100,000, and the average net worth for …Read More

How Your Credit Card Behavior Impacts Your Credit Score

Should I open a new card?  Should I close an existing card?  I just don’t know what to do!! Yes, I realize this opening salvo is grammatically incorrect but it is a textual representation of what goes through the minds of consumers every day when they’re trying to decide how/when/if and why to use their credit cards.  The above scenarios have an upside, and a downside.  And, as always, my …Read More

Dare to Prepare

An interesting piece in today’s Washington Post about how states are considering cuts in unemployment benefits to ease budget troubles. I would be remiss if I didn’t mention that the NFCC offers some useful tips on surviving job loss. However, the article makes a very interesting point that, “The shortfalls can be traced to a failure during the economic boom to properly prepare for a downturn, experts said.” This one …Read More

Financial Spring Cleaning: Tips For Tidying Up Your Finances

For many of us, the onset of spring and fresh air outside means spring cleaning inside. It’s time to swap winter clothes for spring/summer ones and to get rid of the dust and clutter that’s built up. Spring also is a great time to put your finances in order and save money in the process. The National Foundation for Credit Counseling (NFCC) suggests the following tips for tidying up your …Read More