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Financial Education

Did the CFPB Just Totally Blow Off CCCS and NFCC?

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I could not help but notice an absence of some familiar faces in an announcement by the Consumer Financial Protection Bureau (“CFPB”) today on financial education. The CFPB announced an inspired national project to help those most in need to get more education about managing their finances. You would have expected the National Foundation for Credit Counseling to have been ... Read More »

How to Get Out of Debt Without Getting Scammed and What to Do if You Have Been

How to Get Out of Debt Without Getting Scammed - Book 1 COVER

I just published my latest free ebook titled “How to Get Out of Debt Without Getting Scammed and What to Do if You Have Been.” Book Description It’s tough enough to have to face financial problems, but how do you make sure you can trust someone to help you? This book gives you clear instructions about what to look for ... Read More »

Helanie Olen Talks About Bad Advice by Suze Orman, David Bach and Dave Ramsey

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Author Helanie Olen has recently released a new book title Pound Foolish: Exposing the Dark Side of the Personal Finance Industry. In this book she discusses the blind faith of many to follow the personal finance advice of popular financial gurus without question. She also talks about the issues surrounding financial literacy and the fallacies about it’s effectiveness. For me ... Read More »

Sad Findings Show Americans Suck at Managing Their Money. 1 in 3 Have No Savings Account.

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The Federal Deposit Insurance Commission (FDIC) recently released their latest findings on how people deal with managing their money. I’m not talking about high level issues like which mutual fund provides a better return, but like do you have a savings account. As a consumer debt expert the information is disturbing in two ways for me. First, I can visualize ... Read More »

Understanding APR

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Dear Dollar Stretcher, Most of us have at least one mortgage these days, but there is so much confusion over the interest. It seems that by the time you’ve paid off your mortgage, the interest costs more than your home. I would love to know how the interest is calculated and how it can end up being way more than ... Read More »

U.S. Government Teaches Kids to Save Money by Stealing Twitter Bird and Not Drinking Juice or Soda

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Kids.gov recently published these comics designed to teach kids all about learning ways to save money. The first is aimed at younger kids with an interesting message that you can buy stuff you really want if you use your own money. It struck me as an interesting message since it seems to be a tacit approval that you can buy ... Read More »

Leslie Linfield from Institute for Financial Literacy is Looking for Donors

I just received the following letter from The Institute for Financial Literacy. They are looking for donations to support financial literacy for seniors. If you feel compelled to assist her in her efforts, please reach out directly to the Institute for Financial Literacy at www.FinancialLit.org. Get Out of Debt Guy – Twitter, G+, Facebook The Request I am writing to ... Read More »

You Are Cordially Invited To The FTC’s Road Ahead Roundtable

Today, the Federal Trade Commission will host the third in a series of roundtables around the country to gather information on consumers’ experiences in the leasing of motor vehicles at dealerships. The roundtable also will address what has been learned about auto sales, financing and leasing at all of the roundtables; what consumer and business education initiatives would be useful; ... Read More »

Hey Parents! Teach Your Kids About Credit

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Unless parents decide to make a concerted effort to begin teaching children about credit, our nation’s children might become victims of a system that is deceptive, manipulative, and cloaked in mystery. Our banks, educational institutions, and government officials do not make information about credit easily accessible. They do not tell us that no credit is as bad as poor credit. ... Read More »

True Cradle Robbers – Stealing Credit From The Cradle

It’s often not a parent’s first thought to check the credit report of their minor child, however, it may now become a necessity. Not because a child may fraudulently be using credit without their parents’ knowledge but because scammers may have stolen their unused Social Security number and identity. The Better Business Bureau (BBB) put out a warning last week ... Read More »

How to Delegate Financial Success

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Today I am going to be talking about delegation and how to delegate for success. When I first joined the National Guard, through Basic Training and through all my National Guard career, I was always delegated to, meaning that I was the private who was tasked with cleaning the latrines, otherwise known as the bathrooms, or having to do all ... Read More »

Financial Literacy For Kids: How To Really Teach Kids How To Manage Money

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When I was 8 years old my dad took me into Citibank to open my very first savings account. He said it would teach me the value of a dollar and the importance of saving. I don’t remember how much I started my account with and if I deposited on a regular basis but I do remember being the talk ... Read More »

Financial Literacy is Not a Vaccine, nor is it a Solution. It is an Excuse.

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One of my Twitter buddies, Thomas Fox (@thomasjfox) sent a tweet about an article titled “Financial Ignorance is Not Bliss.” When Americans were questioned by the National Foundation for Credit Counseling, more than 41 percent of adults gave themselves a grade of C, D or F when it came to their understanding of financial literacy. And less than half the ... Read More »

Five Steps to Pocket Change: How to Persist When Your Finances Get the Best of You

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The following guest post was contributed by Heidi Beckman. Heidi is a clinical psychologist and proponent of using the science of personal change to improve financial habits. She has been reading and interpreting research on motivation, persistence, and self-control for the past ten years. She works in a medical setting and loves to help patients use simple motivation strategies to ... Read More »

Financial Literacy Not a Band-Aid to Change All Factors for Smart Money Management

Figure 1: Financial Literacy and Financial Product Ownership - Difference between the lowest 20% of financial literacy scores and the top 20% of financial literacy scores

photo © 2010 Alan Cleaver | more info (via: Wylio)The Centre for Corporate Law and Securities Regulation in conjunction with The University of Melbourne released a Research Report in March 2011 about Financial Literacy and “What Causes Suboptimal Financial Behaviour? An Exploration of Financial, Social Influences and Behavioural Economics”. This following article will showcase their report and findings. All quotes ... Read More »

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