Improving consumers’ financial literacy is extremely important, as it can have a significant impact on so many aspects of their lives.
Boston, MA (PRWEB) January 25, 2016
In order to help enhance consumers’ financial wellbeing during their 25th year in business, national non-profit American Consumer Credit counseling offers a wide range of online financial resources in the areas of financial literacy, budgeting, credit, housing, and youth and money, among others.
“Improving consumers’ financial literacy is extremely important, as it can have a significant impact on so many aspects of their lives,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “In order to do this we have developed a number of financial tools, calculators, and articles on a wide range of topics that are designed to help improve personal financial situations.”
In a recent survey of 150,000 adults in 148 countries by McGraw Hill Financial, the United States ranked 14th in financial literacy, trailing countries such as the Czech Republic and Singapore. Only 57 percent of Americans received a passing grade compared to more than 70 percent in Denmark and Sweden. Data also revealed that middle-aged people (35-54) in the United States are more financially literate than young people (15-34).
By using these financial resources, consumers can learn more about managing their financial lives and planning for their financial future. Further, budgeting, understanding credit reports and scores, identity theft, and retirement planning will assist consumers in building a foundation needed to help avoid making decisions in the future that could lead to financial hardship.
In addition to these resources, ACCC has a wide range of tools that can be used to manage a consumer’s financial life.
Budgeting: Responsible financial planning starts with budgeting. A budget can help consumers save for the future by finding ways to save money and cut back. ACCC has compiled helpful resources, such as a budgeting worksheet and daily expense tracker, to help consumers understand, track and create a successful budget.
Starting Young: It is so important that children start learning about finances at a young age so they are better prepared to make sound financial decisions in the future. ACCC provides downloadable workbooks for parents to help youth of all ages understand the basics of money management and assist in developing healthy financial habits.
College Planning: With the average cost of college tuition on the rise and student loan debt reaching record highs, it is more important than ever to financially prepare for college. Developing a realistic and manageable budget is a lifelong skill that will be essential to prepare for college, while in school, and even after you graduate from college. In response, ACCC provides a downloadable Financial Workbook for College Students.
Identity Theft: With identity theft on the rise, ACCC joined forces with the Federal Trade Commission to provide the FTC’s national campaign, Fighting Against Identity Theft. The purpose of the campaign is to encourage consumers to protect themselves against identity theft and minimize its damage by providing information on Identity Theft Protection. In the unfortunate case where a consumer’s identity has been stolen, ACCC has created a guide focusing on What To Do If Your Identity Has Been Stolen.
Credit: Credit allows consumers to purchase items and services now and pay for them later. Having credit is nice, but knowing how to manage and maintain good credit can be very challenging. Because credit reports and scores can have a significant effect on a consumer’s life, ACCC provides consumers with a guide to understanding reports.
To learn more about these resources as well as other financial topics, please visit ACCC’s Financial Education section at consumercredit.com.
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management and debt relief through education, credit counseling, and debt management solutions. In order to help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loans, youth and money, homeownership, identity theft, senior living and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®) and the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources, log on to ConsumerCredit.com or visit TalkingCentsBlog.com.