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Wednesday, July 30, 2014

CFPB Launches New Financial Education Tools

The CFPB announced its partnership with national and local organizations to train social services staff to provide financial education and tools to clients with low-to-moderate incomes. Along with training guides, the CFPB has released a new online toolkit called Your Money, Your Goals, a guide to financial decision making that covers topics such as budgeting daily expenses, managing debt and avoiding financial tricks and traps.

Topics in the Your Money, Your Goals toolkit include:

  • Making spending decisions that help reach goals
  • Ordering and fixing credit reports
  • Avoiding tricks and traps in choosing financial products
  • Making decisions about repaying debts and taking on new debt
  • Keeping track of income and bills
  • Deciding whether to open a checking account and understanding what’s needed to open one

The bureau said the toolkit has been tested by 1,400 case managers at 26 organizations in 21 states.

Read more.

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