When money gets tight, a strong financial foundation is key to ensuring that you don't get in over your head with credit card debt
HOUSTON (PRWEB) March 31, 2008
April is National Financial Literacy Month, and it couldn't have come at a better time. Between the mortgage and credit crisis, steadily-rising gas prices, and stagnant economical growth, consumers are feeling more pinched each week. Many consumers are resorting to paying for necessities like groceries or electric bills with high-interest credit cards, instead of just the typical discretionary expenses.
MMI created http://www.FinancialLiteracyMonth.com to address this issue. The site gives consumers an easy 30-step path to financial wellness. Tips for each day of the month provide consumers with detailed, interactive steps that will increase their financial know-how, and improve their finances today and in the future.
The first five tips towards financial wellness include:
1. Commit to Change- Take the pledge to improve financial wellness.
2. Assess your Financial Situation- A simple quiz can show you where you are today, and motivate you to get where you want to be.
3. Clear out Financial Clutter- We share tips on what to keep (and for how long), and what to toss.
4. Set Yourself Up for Success- Appoint a family "CFO" to keep everyone on track, and decide how your family will handle financial decisions.
5. Get Copies of Your Credit Reports- Look for errors and fraud, and learn how your credit score can impact your interest rates, car loans, job searches, and more.
"When money gets tight, a strong financial foundation is key to ensuring that you don't get in over your head with credit card debt," said Cate Williams, vice president of financial literacy for MMI. "By visiting our site, taking the pledge, and following the 30-day plan, consumers will have a better understanding of how their financial decisions affect them, and will be in a better position to make good decisions for their families' futures."
About Money Management International
Money Management International (MMI) is a nonprofit, full-service credit-counseling agency, providing confidential financial guidance, financial education, counseling and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan and repay debts. Counseling is available by appointment in branch offices and 24/7 by telephone and Internet. Services are available in English or Spanish. To learn more, call 800-762-2271 or visit http://www.moneymanagement.org.