Tuesday, September 21, 2021

Play

The American Rescue Plan could provide essential training to boost jobs in construction, and we explore a trauma-informed approach to preventing marijuana use in teens.

Play

Pfizer says its vaccine is safe for children ages 5 to 11, travel restrictions soon will ease for vaccinated international visitors to the U.S., and a Texas doctor who performed an abortion under new restrictions is sued.

Play

Lawsuits stall debt relief for America's Black farmers; Idaho hospitals using "critical care" protocols; grant money boosts rural towns in Utah and more conservation acreage could protect the iconic sage grouse.

Advice to Consumers: Watch Your Dollars and Financial Sense

Play

Friday, April 4, 2008   

Minneapolis, MN – April is Financial Literacy Month, so designated by Congress to increase awareness about the importance of money matters and to encourage consumers to avoid financial problems arising from too much debt. Geoff Bullock, financial educator with Lutheran Social Services of Minnesota, says it's all too easy to get into financial hot water, and often difficult to get back out of it.

"We're in a culture that does promote the purchasing of everything that you desire. And so, it's important to really fight back against that urge, and spend money wisely, because debt can be a discouraging and frustrating thing."

Bullock says not all debt is bad. For instance, borrowing money for a home at an affordable interest rate makes sense. But credit card debt is expensive, and it often creates even more debt.

Bullock says debt can be a short-term cure leading to a long-term financial headache.

"Debt can be a crippling and overwhelming thing--especially debt with high interest and debt that is more of a liability than an asset. You can get in over your head and get discouraged. That's why it's important to stay on top of a budget, stay on top of a spending plan, and not resort to spending and using credit."

Bullock says finances become more tricky as the lending industry becomes more complex and as options for borrowers increase.

The key to financial solvency, he believes, is to make a plan and stick to it.

"No matter where you are financially, or whatever tax bracket you're in, the bare bones, the skeleton, of your financial life should be a working budget. Meaning, you have a plan for how you spend your money. You have a knowledge of what money you take in so that you can then distribute it properly into savings, into spending, into paying your monthly bills. That is a great place to get started."

Bullock advises people to pay bills in full and on time, spend within their means, save a little and say "no" to offers that seem too good to be true. He adds that advice on financial matters is available from various sources, including Lutheran Social Services of Minnesota.

More information is at www.lssmn.org/debt.



get more stories like this via email

Food prices are rising nationwide, and the cost of a grocery store trip is up 3.5% from a year ago, according to a USDA report. (Adobe Stock)

Social Issues

RALEIGH, N.C. -- More than $1 million in COVID-19 relief grants are helping rural organizations increase their focus on locally sourced food relief…


Environment

DES MOINES, Iowa -- This fall, the Iowa Utilities Board is hosting meetings to inform the public about a proposed underground pipeline, which would …

Social Issues

MANDAN, N.D. -- North Dakota has had nearly 18,000 job openings in recent months, with roughly 1,000 in construction. A labor leader in the trades …


Approximately 3% of the 1,500 students in Montgomery County who were screened for behavioral health indicators were found to be at risk of substance use. (Adobe Stock)

Health and Wellness

DAYTON, Ohio -- An Ohio county is taking a trauma-informed approach to its work on preventing marijuana use in teens. As marijuana policy changes …

Social Issues

DENVER -- As Congress considers making significant investments in the nation's child-care system, children's advocates say now is the time to make …

This, year the theme of Sea Otter Awareness Week is the species' key role in the mosaic of the ecosystem. (Wikimedia Commons)

Environment

MONTEREY BAY, Calif. - This week, conservation groups are celebrating Sea Otter Awareness Week with online and in-person events across the state…

Environment

LAS VEGAS, Nev. - Admission to any state park in Nevada is free this coming Saturday, as part of the first Nevada Public Lands Week - with a series …

Social Issues

HARRISBURG, Pa. - A new Redistricting Advisory Council announced last week by Gov. Tom Wolf's office will focus on reducing gerrymandering as new …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member and audience-supported news source since 1996 Copyright 2021