Become Financially Literate
Next week is National Consumer Protection Week
By Luanne Kadlub
Better Business Bureau
1:05 a.m. MT Feb 29, 2008
Are you financially literate? Do you even need to be?
The answer is a resounding yes.
Consider this: Consumers conduct some type of financial transaction requiring an educated decision every day, whether it’s shopping for a mortgage or auto loan, reconciling credit card or bank statements, understanding utility and grocery bills, choosing savings and retirement plans, comparing health insurance polices, or simply deciding how to pay for a purchase.
How smart are you when it comes to money? Your Better Business Bureau, which joins government agencies and national consumer advocacy organizations in sponsoring the 10th National Consumer Protection Week March 2-8, recommends boosting your financial IQ online at consumer.gov/ncpw.
Here’s a quick look at some of what you’ll find:
» bbb.org has hundreds of practical tips to help consumers boost their marketplace IQ and find trustworthy businesses. BBB also has information on recognizing scams and frauds, and how to protect your identity. You also can check out a business’ reliability report.
» aarp.org/growmoney features an easy-to-use calculator to help you figure out how much money you’ll need to save for retirement.
» paydayloaninfo.org provides the facts on payday loan costs and risks, advice on avoiding predatory small loans, and state-specific information on consumer protections and where to file complaints.
» pueblo.gsa.gov is the go-to place for printed consumer information on a wide range of topics.
» onguardonline.gov provides practical tips from the federal government and the technology industry to help you be on guard against Internet fraud, secure your computer, and protect your personal information.
» ftc.gov/idtheft is a one-stop national resource with detailed information to help you deter, detect and defend against identity theft.
» fakechecks.org, created by the Alliance for Consumer Fraud Awareness, serves as the primary vehicle to educate Americans on the scenarios of fraudulent financial scams and learn why — if the offer looks too good to be true — it probably is.
» helpwithmybank.org can answer questions, provide guidance, and when necessary, intercede with banks on behalf of customers.
» americasavesweek.org encourages families and individuals to save money, reduce debt and build wealth.
» Start With Trust. For additional consumer advice and information on personal finance, go to BBB at www.bbb.org or call (970) 484-1348.
About National Consumer Protection Week
National Consumer Protection Week, March 2-8.
NCPW highlights consumer education efforts in the fight against fraud in communities across the nation. For more information, go to consumer.gov/ncpw. For additional consumer tips and information, go to www.bbb.org, or call (970)484-1348.
