Financial Education
Resources to build, understand and manage credit
The following article is a guest post from, John C. Linfield, Executive Director at the Institute for Financial Literacy
At the end of “Financial Literacy Month” here in the United States, it seems appropriate to take a moment and think about why we should become financially literate, and how we can use that to stay on track for the long term.
The following article is a guest post from Laura Levine, president and CEO of the Jump$tart Coalition for Personal Financial Literacy®
As we wrap up another Financial Literacy Month, it’s fun to look back at how far we’ve come; important to look forward at how much further we have to go; and compelling to look closely at how we’re making a difference.
With the objective of supporting the local community and helping Orange County residents overcome financial issues, we have partnered with the Orange County Rescue Mission (OCRM) to spread financial literacy by providing residents with the insight and resources to guide them on a journey to independence.
A recent report by the Consumer Financial Protection Bureau (CFPB) found that many people are confused and frustrated about how to check credit reports and scores and they feel they lack information to take action to improve their credit histories. I have to admit that I was not surprised by some of the survey’s results, and I suspect my colleagues in financial literacy weren't either. We devote our careers to educating consumers, financial educators and businesses about how to empower people to understand credit and the role it plays in their everyday lives. But it's a steep uphill climb. As a new federal agency, the Consumer Financial Protection Bureau is a relative newcomer to the financial literacy arena, but many of the people working in its education division have years of knowledge and experience in the field. I've met and worked with a number of them, and I have great respect for the focus they are bringing to such an important issue. Many others -- in the public sector like the Federal Trade Commission, and non-profits like the Mission Asset Fund and the Consumer Federation of America's America Saves, and companies like Experian -- invest in, conduct and work together on programs with the sole focus of helping people become more financially capable.
Experian® has been named the “Organization of the Year” and presented with the Excellence in Financial Literacy Education (EIFLE) Award by the Institute For Financial Literacy during the Annual Conference on Financial Education in San Antonio.
Are you in the dark with your finances? Take control this April during Financial Literacy Month and join Experian as we provide education and resources to help light the way to financial literacy.
Experian is a long-time advocate for financial education and empowerment for consumers. As a result, we are teaming with the Jump$tart Coalition® this month to encourage people to take time to think and talk about their own money matters. We want to encourage people to take full advantage of all of the available resources designed to improve their financial literacy and well-being.
With the New Year in full swing, it’s time to start turning thoughts to pulling together all the financial documents you’ll need to prep for tax time. A recent survey commissioned by Experian’s ProtectMyID shows that more and more consumers continue to file their taxes electronically – an estimated 81 percent of respondents plan to do so in 2015—but some are still unaware of the nature of tax-related identity theft (16 percent).
Have you heard of #CreditChat? #CreditChat is an online discussion that happens on Twitter and YouTube every Wednesday at 3 p.m. ET. It's an educational and fun hour when we discuss credit and money issues with consumers, personal finance writers, academics, and financial organizations.
Bankcard lending is trending upward, according to the 2014 Experian “State of Credit” report. One in 17 consumers obtained at least one bankcard this year, compared with one in 21 people back in 2013. Consumers now carry an average of 2.18 bankcards apiece (an increase of 4.2 percent), and an average of 1.54 retail cards (a jump of 6.7 percent). In other words, credit availability is on the rise. Can we do it smarter this time?