Interest can be hard to understand. Look at this graphic to better understand why making minimum payments can trap you in a cycle of debt (and result in you needing to pay over twice your initial balance). Read our 2024 Financial Capability Survey here: loom.ly/wo7qgn4

If your #credit score has suffered due to significant credit card use, all hope is not lost. There are ways to bounce back and mitigate damage. On our blog, we're sharing what happens if you max out your card and how to mitigate the fallout. Learn more: loom.ly/zejGRs0

The 2024 NFCC Financial Literacy and Preparedness Survey, conducted by The Harris Poll and sponsored by Wells Fargo, found overall financial anxiety across the U.S. NFCC's @BruceMcClary weighs in on the contributing factors to this widespread fear. Listen now: loom.ly/9YNuSt4

An underwater #mortgage occurs when you owe more for your mortgage than what the value of your house is worth, which causes you to have negative equity in the property. NFCC's @BruceMcClary recently weighed in on what your options are with Bankrate, here: loom.ly/3piBpBA

If you're trying to save money on your mortgage payment, #refinancing may be for you. Bankrate shares tips for securing the best refinance rate, starting with improving your #credit score, comparing rates, and buying #mortgage points. Read more: loom.ly/CCl4Bpc

Being 'unbanked' and 'underbanked' refers to people who don't have a relationship with a #bank or have a #checkingaccount but rely on loans/credit cards. NFCC's @BruceMcClary chats with Bankrate about common reasons and solutions for both scenarios. loom.ly/VGDvHo4

We all are cautious of our credit card limit, but it can be easy to reach or exceed it when money is stretched. Maxing out can damage your credit score and impact you for longer than you may think. Read how you can mitigate the impact of a maxed-out card: loom.ly/zejGRs0

It's natural to want the best for your child. Many parents add their children as unauthorized users on their credit cards to build their credit. NFCC's @BruceMcClary weighed in on this strategy in an article from @WashingtonPost, warning of its drawbacks.
washingtonpost.com/business/2024/…

NFCC's @BruceMcClary was interviewed on the Meadowsweet Money podcast hosted by Mimi Cirbusova about the NFCC and how we are able to help people. Watch or listen below:
Spotify: loom.ly/C4vH2Zg
Apple: loom.ly/JwWTDPY
YouTube: loom.ly/vdnNQsM

Financial anxiety on the rise? You're not alone. Our new survey shows many Americans struggle to reach goals. The NFCC can help! Counseling & resources to build a budget, manage debt, & achieve financial success. #FinLit #FinHealth loom.ly/5-QfsNc The Harris Poll Wells Fargo

Recently, the Biden Administration placed a cap on the late fees that #credit card companies can charge, reducing it from an average of $32 to a cap of $8. At NFCC, we can help you create a #debtmanagement plan. Read more at Yahoo News: loom.ly/l3K_VRY #CreditCounseling

When deciding on #buying vs. #renting , reviewing your finances to determine what monthly payment fits your #budget is important. In a recent article from The Hill, NFCC recommends not spending more than 30% of your gross income on #housing . Read more: loom.ly/yr4FZ9o

With #inflation rising, now has never been a better time to start saving your money. Fortune recently shared tips for saving, budgeting, and investing in your financial future, such as managing your #debt with the help of an agency like NFCC. Read more: loom.ly/CMjJnUM

With rising interest rates and consumer prices, many Americans are struggling with their finances. NFCC CEO Mike Croxson tells @USAToday, 'As #inflation kicked in, people spent more. They didn’t have free cash flow, so people began using unsecured debt.' loom.ly/iX8Y-s4

As tax season rolls around, it feels like working through a maze. There’s the rush to gather documents and the hope for a #refund paired with the fear of owing more. Have you considered how this annual ritual impacts your #creditscore ? Read more: loom.ly/O41Q-2E

With car #insurance rates soaring 26% in the last year, it's vital to analyze what determines insurance rates. @BruceMcClary of NFCC tells CNBC how #credit scores can impact rates. “You may want to check for errors on your credit report,” McClary said. loom.ly/9yDCbmA

After recently reaching the highest #inflation rate since the 1980s, the U.S. #economy has left millions of Americans wondering how they are going to make ends meet. Read NFCC President Barry Coleman's conversation with AOL.com about credit card #debt here: loom.ly/R5BpRQU

'For #subprimeborrowers , an #APR hike may occur if they've recently made late payments. The higher likelihood of missed payments adds to the cost of repayment for those most likely to face financial challenges,' NFCC's @BruceMcClary tells Bankrate. loom.ly/Yvflflk

Made popular on TikTok, the loud budgeting trend involves saying no to expenses that clash with your financial objectives. You can achieve this by:
📝Clearly defining your financial goals
💰Creating a 'fun fund'
📣Communicating openly
Read more: loom.ly/-li31Vc

'Many people right now are struggling with the cost of living,' NFCC's @BruceMcClary tells MSN. A recent survey conducted by LendingTree found that raising your #creditscore from Fair to Very Good could save you as much as $92/month. Read how here: loom.ly/ekCG3bk