There seems to be an abundance of activity on the financial literacy front. Vitt et al. (2000) identify 91 programs offered by schools, Cooperative Extension, colleges (including community colleges), the military, faith-based organizations, community groups, employers, and others. The National Endowment for Financial Education lists over 150 educational resources from a wide range of agencies, organizations, and firms in its Economic Independence Clearinghouse database; many of these materials are available in multiple languages. (more…)

People today are more responsible for their own retirement income security. Over the past 15 to 20 years there has been a shift in responsibility for long-term well-being away from institutions (employers, the government) to individuals. For example, in 1980, 70% of pension plans were defined contribution (DC, as opposed to defined benefit plans; DC plans shift more of the responsibility for the growth of retirement funds to the consumer); by 1997, 92% of plans were defined contribution (Conte 1998). In 1988, one-fourth (25%) of workers were covered primarily by DC plans; in 1998, over three-fifths (63%) were covered by such plans (Copeland 2002). (more…)

One major key to controlling your debt—as you no doubt have heard before—is to stop paying interest on all loans. Revolving interest can be a money management killer.

Please take note that if you could not control your debt, your debt will control you. In current financial condition, debt is an all important element of your personal financial planning. (more…)