| March 5, 2012

Make financial literacy a family affair

Following the Great Recession, many households took strides to overcome heavy debt, correct harmful spending behaviors and adopt healthier savings patterns. Credit counseling agencies saw a spike in the percentage of Americans who were not only focused on paying down balances or entering into debt consolidation programs, but also households who wanted to improve their financial literacy.

Credit counselors, advisers and bank professionals have heralded Americans’ renewed focus on financial education. However, experts also agree that children and teenagers develop their money management styles from their parents and receive little financial instruction in school. As a result, professionals say it’s imperative that adults not only exhibit wise spending habits, but also teach their children smart financial skills. Parents often balk when it comes to having money discussions with their children, but kids can pick up on basic concepts from an early age that may help them make smart decisions throughout their lives, according to Fortune magazine. For example, parents can ingrain the importance and rewards associated with saving money by starting a piggy bank or children’s bank account with young kids. Games, such as “playing bank,” can also be an effective way to begin discussions relating to money.

A weekly allowance is another common and beneficial way to educate kids on saving and spending. Taking them shopping and discussing the benefits and drawbacks of their purchases, giving them the option to save or spend or even agreeing to match their savings or pay them interest can raise important questions for kids.

As children get older and understand the foundation of saving and spending, parents can take it a step further by introducing them to credit cards, debit cards and budgeting. Some adults allow their children to sit with them while they establish their monthly budget to show them how to manage their obligations, credit card debt and savings accounts.

There are several ways to introduce financial concepts to kids of any age, and several agencies, banks and organizations offer resources and tools to teach literacy to individuals of all ages. The important thing is to have conversations with children about money and give them enough knowledge to start making smart financial choices. A recent Jump$tart survey shows that children who grow up with a strong financial background make more sound money choices than kids who have no financial instruction.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive