Those who know how to effectively manage their money stand a much better chance of achieving the American dream without the burden of lifelong debt. But the troubling reality is that less than a third of young adults would grade their knowledge of basic financial literacy as a "B" or better. Despite being universally recognized as an essential life skill, only 1 in 3 high schools throughout the U.S. incorporate personal finance classes into their base curriculum, and less than 3% of American adults are able to correctly answer 5 questions pertaining to fundamental concepts of personal finance.
Financial Education Houston hosts events for those seeking to expand their financial literacy. These events cover a wide range of money management topics, from basic to advanced concepts, including;
Credit score calculation factors and how to minimize the impact of inquiries. Ways to maintain, improve, or build your credit history. Being prepared to handle a financial emergency without taking on high-cost loans. Using consolidation loans to reduce credit card debt. Preparing to apply for a mortgage loan as a first-time home buyer. Avoiding the debt trap; a guide to preventing, or getting out of, a cycle of debt. How consumer data is being used to supplement credit reports. Getting items discharged from your credit report. Bank accounts; avoiding overdrafts, maintenance charges, and other hidden fees. Learning the basics of loans and credit cards before you apply. How small loans can have a big impact on your financial well-being. The life cycle of a mortgage loan and how to minimize your costs. Investing for your future; start making smart long-term financial decisions today. Using a budget to understand your real purchasing power and avoid overusing debt.
The Growing Importance of Smart Financial Planning Decision-making and behavioral data is having an increasing impact on consumer access to financial products. By 2020, it's expected that nearly every major financial services provider in the U.S. will utilize some degree of automated consumer data analysis in their decision making. This rising reliance on consumer data affects many aspects of day-to-day life—beyond credit ratings and loan approvals, which makes it more important than ever to take an active role in shaping your financial future.