Online Toolkit Aims to Educate Consumers - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Online Toolkit Aims to Educate Consumers

Online Toolkit Aims to Educate Consumers

Online Toolkit Aims to Educate Consumers
August
18
The content is accurate at the time of publication and is subject to change.

The Consumer Financial Protection Bureau (CFPB) is teaming up with national and local groups to help consumers make wiser decisions about money.

The CFPB has launched a new online toolkit called Your Money, Your Goals in an effort to guide folks making decisions about budgets, debt-management, and how to avoid financial pitfalls. The outreach is focused on low-to-moderate income households. The CFPB will reach out to nonprofit and public service programs and train social service workers in using the tools to help clients.

Lower income people who may be trying to balance work, school, finding affordable housing and planning for the future will be able to learn about being savvy with their money by using the CFPB toolkit. Folks who already receive services from social workers at public agencies and nonprofits can get help from staff members they already work with.

“Your Money, Your Goals opens a new channel for connecting consumers to the Bureau’s information, tools and resources through the people they know and trust,” said CFPB director Richard Cordray.

Tools to build skills

The online toolkit contains checklists, worksheets, and information about reviewing and correcting credit reports, smart shopping for financial products, paying down debt and taking on new debt, tracking income and bills, opening a checking account and more.

People who might be stymied applying for a credit card will find assistance and information through utilizing the CFPB program and website.

Already, several organizations have announced their intention to support the Your Money, Your Goals initiative. Each group has pledged to train at least 500 staff members in using and teaching the CFPB toolkit. They include:

  • Catholic Charities USA and the Community Action Partnership

  • The Los Angeles Country Department of Consumer Affairs

  • The National Association of Community Health Centers Community HealthCorps

  • The U.S. Department of Agriculture Cooperative Extension

A pilot program in the fall of 2013 tested the CFPB program, and 26 groups led workshops in 21 states. Case managers and other social services workers who interact with the public were familiarized with the materials, and workshop participants were drawn from veterans’ programs, homeless shelters, mental health programs, Head Start programs, health clinics and churches.

People can sign up for upcoming training events and information about updates to the toolkit at the CFPB website.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Girl Scouts Partner with MetLife to Teach Financial Empowerment
Girl Scouts Partner with MetLife to Teach Financial Empowerment

Posted: September 17, 2014

Girl Scouts will be able to put a new patch on their vests after participating in a new curriculum designed to teach them about money. The Girl Scouts of the USA and MetLife are putting $800,000 behind the Girl Scout Global Financial... Continue reading
Young People Have Better Financial Habits Than Their Elders
Young People Have Better Financial Habits Than Their Elders

Posted: July 03, 2015

A recent study by T. Rowe Price showed that Millennials are beating Baby Boomers when it comes to healthy financial habits. Continue reading
Feds Seek Input on Safe Student Scorecard
Feds Seek Input on Safe Student Scorecard

Posted: January 16, 2015

The Consumer Financial Protection Bureau (CFPB) is creating a tool to help colleges and universities evaluate financial products before they decide which companies to partner with. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness*
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!