FCAA

The Financial Counseling Association of America

Understanding Your Credit Score and How to Build Good Credit

As you plan and set financial goals, many of those goals may require you to use credit to achieve them. However, the credit limits, rates and loans granted are not the same for everyone. Understanding your credit score is important to get the best rates and approvals needed to realize your dreams.

A high credit score can open doors to better credit terms, lower payments and interest rates and other opportunities. It can often save you money in the long term. Lower credit scores limit opportunities, often increase interest rates and may prevent you from obtaining loans.  

[Read more…] about Understanding Your Credit Score and How to Build Good Credit

Debt Advice – How to Know Who to Trust

Money is a top stressor for adults in the United States today. With overdue credit card debt at the highest level in decades added to student loan payments and mortgage debt, many Americans are struggling to get out of debt. And they don’t know where to turn to get trustworthy debt help. 

Determining how to pay off debt can be a challenge, though. Some can read a book and translate principles into their own financial lives. But others need help choosing the best debt relief method, setting a realistic budget and staying on course.  [Read more…] about Debt Advice – How to Know Who to Trust

Are Reverse Mortgages Beneficial?

Thousands of Baby Boomers are hitting retirement age each year, but many are not financially prepared for the next 20+ years of life. Rising healthcare costs, food costs and inflation are siphoning off seniors’ hard-earned retirement funds faster than expected. A reverse mortgage could be the solution.

Seniors who own their homes can obtain money for living expenses by tapping into the equity in their homes through a reverse mortgage.  [Read more…] about Are Reverse Mortgages Beneficial?

How to Protect Yourself from Financial Scams

Are you up on all the latest financial scams? You might be surprised at how sophisticated and convincing scams have become and how many people fall prey to scammers. 

Scenario 1: The phone rings at 7 p.m. The caller says he is from a collections agency, and you need to pay your outstanding debt now or you will be arrested. What should you do?

Scenario 2: You receive a call saying your granddaughter was arrested for using her iPhone while driving. The caller pressures you to pay to keep her out of jail, and then you hear her voice on the line telling you to wire money. Should you do it?  [Read more…] about How to Protect Yourself from Financial Scams

FCAA 2024 Annual Conference Kicks Off This Week in New Orleans

NEW ORLEANS (Apr. 29, 2024) – The Financial Counseling Association of America (FCAA) will hold its annual conference in New Orleans May 1-3, 2024. National credit counseling agency (CCA) professionals, lending institutions and other industry experts will come together to discuss best practices, ideas and trends relevant to credit counseling agencies and the constituents they serve. [Read more…] about FCAA 2024 Annual Conference Kicks Off This Week in New Orleans

4 Ways to Spend Your Tax Refund Wisely

Tax season has arrived. This means you’ll either owe money for underestimating your taxes or the IRS will be sending a tax refund your way. While this seems like a compelling time to splurge on that thing you’ve been eyeing, the FCAA urges you to pause and look to the long term. Yes, we realize this isn’t the “fun” choice. However, choosing how to spend your tax refund wisely may make life a lot more fun and much less stressful in the years to come.  

In this article, we will share why you are receiving a refund and discuss four smart ways to spend your tax refund.  [Read more…] about 4 Ways to Spend Your Tax Refund Wisely

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