Military Saves Blog
Tips, advice, and the latest news from the savings world.
Many know that April is Financial Literacy Month, but did you know that it is also the month of the military child? That’s right! In 1986, then Secretary of Defense Caspar W. Weinberger designated each April as “The Month of the Military Child”. There are celebrations honoring the children of servicemembers. Won’t you honor your child by investing in his or her future and teach the value of saving and responsible spending? Here’s a few ways to introduce your child to money management this month:
By Debbie Matz, NCUA Board Chairman
National Financial Literacy Month is coming to a close, but there are a lot of resources available to help young consumers become more educated about money. Promoting financial literacy is a year-round commitment for the National Credit Union Administration, and the agency offers many free financial literacy and education tools through its consumer protection website MyCreditUnion.gov and the financial literacy microsite Pocket Cents, which is dedicated to helping youth, tweens and teens, young adults, parents and educators, families, seniors, and servicemembers learn how to make smarter financial decisions.
by Carol Kando-Pineda, Attorney, Federal Trade Commission
Right about now is the time when many of us are searching for scholarships and financial aid for our college-bound kids. Or maybe Junior is interviewing for his first job — or Muffy is buying her first car. In the middle of the paperwork, you might get a nasty surprise: your child’s credit report shows unpaid bills and a loan default.
Payday loans can set you up for debt that can come back to haunt you later, especially if you take out more than you can truly afford to pay back. It can be difficult for someone on a fixed budget to pay back these expensive loans in just two weeks, which is generally the amount of time given to repay such loans. If you’ve considered resorting to a payday loan to pay off an emergency expense, consider the following before doing so: