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Financial Literacy Month - 04/08/2008
Get a financial education in April
With the goal of increasing public awareness about the importance of financial education in the United States and the serious consequences that may result due to a lack of understanding personal finances, Congress officially designated April as Financial Literacy Month.
Advantage Credit Counseling Service is encouraging consumers to take the time review their home budget and expenses with a professional credit counselor.
Credit counseling is a good first step for those looking to better manage their budget or pay down debt. A credit counseling session will help individuals gain an understanding of their overall financial picture and give them the information they need to make an informed and educated decision about the best way for them to reduce their debt.
Credit counseling is a process through which a certified credit counselor reviews all of a consumer’s income, expenses and debt with you to create your overall financial picture. This should be a detailed process that takes into account all of your expenditures.
There is no “minimum debt level” requirement to go through a credit counseling session. Anyone can benefit from a credit counseling session regardless of how much debt they have or don’t have. After creating the consumer’s financial picture, the counselor should then give the consumer an action plan to deal with their debt and make practical suggestions as to how they can reduce their debt.
Credit counseling through a non-profit organization should be offered at little or no cost to the consumer. Consumers should look for an agency that is affiliated with the National Foundation For Credit Counseling and should also check with the Better Business Bureau and their state Attorney General’s office before choosing an agency.
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