There are so many negative financial buzzwords bombarding the consumer: “foreclosure crisis”, “troubled economic times”, “the credit crunch”, etc. Consumer anxiety (and mine!) rises each time we turn on the TV or pick up a paper and are faced over and over again with the news of economic doom and gloom. Economic hot topics come and go with various new buzzwords; but the personal financial management practices to deal with these challenges remain the same. These basic concepts include spending less than you earn; protecting your credit; documenting income and expenses; creating a spending and saving plan; avoiding financial fraud and scams; and being a smart consumer of financial services. Let’s combat the negative economic buzzwords with basic money management advice and help members feel competent and capable of weathering these “challenging economic times”!
Keywords: economy, financial education, money mangement