Resources

Want more information about money management? The following is a sampling of publications and websites that have lots of useful information for you and your apprentices.

Financial / Money Management Websites

Hands on Banking®
This interactive website and CD from Wells Fargo provides easy to understand information on a number of financial topics including managing money, planning for the future, borrowing money, banking services, establishing a business, and buying a home. Available in English and Spanish.

Smart About Money
From the National Endowment for Financial Education, this website provides information, tools, and printed materials on a variety of topics including money management, financial planning, credit, debt, saving, investing and retirement.

Bankrate
A website with lots of short articles and calculators on mortgages, auto loans, CDs and Investments, credit cards, checking and savings accounts, college finance, insurance and taxes.

Credit

Annual Credit Report.com
This is the official website for requesting free credit reports from each of the nationwide consumer credit reporting companies: Equifax, Experian, and TransUnion. Apprentices can request their credit reports online through this website, or instructors can download forms so that apprentices can request them by mail.

Credit Repair: How to Help Yourself
Discusses credit repair agency scams, consumer rights regarding credit repair, how to dispute inaccurate information on your credit report, and where to go for help. Also includes a credit report request form on back page. From the Federal Trade Commission.

Getting Through Tough Times: Strategies for Spending Less
Teaches concrete methods for controlling spending in areas such as food, utilities and household maintenance, transportation, medical expenses, clothing and personal care, recreation and leisure, childcare, and more. From University of Illinois Extension.

Sample Credit Report
This sample helps consumers understand how to read a credit report. From Experian.

What You Need to Know: New Credit Card Rules
This summary outlines new credit card rules that protect consumers that went into effect in February 2010. From the Federal Reserve.

Dealing with Debt

Debt Collection FAQs: A Guide for Consumers
Covers your rights under the Fair Debt Collection Practices Act. From the Federal Trade Commission.

Fiscal Fitness: Choosing a Credit Counselor
Provides information on debt repayment plans and questions to ask when choosing a credit counselor. From the Federal Trade Commission.

Guide to Surviving Debt
This book provides detailed information on dealing debt, including understanding options, responding to debt collectors, home foreclosures, student loan and federal income tax collection, evictions, utility shut-offs, repossessions, and bankruptcy. From the National Consumer Law Center. Note: the book costs $20. It is also available at some libraries.

In Over Your Head: Life Saving Strategies for Financial Crisis
Details steps for dealing with serious debt issues. Includes a “know what you owe” worksheet, strategies for dealing with debt collectors, creating a self-directed debt repayment plan, how to assess credit counseling services, debt consolidation and other repayment strategies, and bankruptcy. From the Ohio State University Extension.

Monthly Auto Loan Payment Calculator
Enter auto loan amount, loan term and interest rate to calculate monthly loan payment. This calculator can show the full cost of buying a car and how much will be spent on interest. From Bankrate.com.

PowerPay
This website allows you to put in your debts and shows you how long it will take you to pay off using the “power payments” concept. It also allows you to choose which debts to prioritize (i.e., pay off high interest debt first; pay off low balances first). From Utah State University Extension.

Taking Control of Your Debt
Covers the basics of understanding debt, how to identify warning signs of debt problems, how to avoid debt traps, debt dos and don’ts, steps for getting out of debt, and when and where to get outside help. From Port Jobs.

True Cost of Paying the Minimum: Credit Card Calculator
This online calculator calculates how much interest you will pay and how long it will take to pay off a credit card when making only the minimum payment. You can also see how much time and money you could save by paying a fixed amount each month. From Bankrate.com.

Loans

Borrowing Basics: What You Don’t Know Can Hurt You
Provides information on getting a loan. Describes what to look for when loan shopping, what you need to know before you sign, and how to avoid predatory lending. From the Fannie Mae Foundation.

Money Management

Developing a Spending Plan
Learn the basic steps to creating a spending plan, tracking expenses, plugging spending leaks and more. From Port Jobs.

Getting Through Tough Times: Strategies for Spending Less
Teaches concrete methods for controlling spending in areas such as food, utilities and household maintenance, transportation, medical expenses, clothing and personal care, recreation and leisure, childcare, and more. From University of Illinois Extension. Saving

Saving for Your Future
Provides guidance and tips for creating short and long-term goals, building an emergency fund, creating a savings plan, and paying yourself first. From Port Jobs.

Action Plan worksheet
Use this worksheet to make a step-by-step action plan to meet your goals. Calculate how much you need to save each month, what publications or websites you need to review, steps you need to take, and track progress.

Financial Wheel worksheet
This worksheet shows eight parts of your financial life.  Use this tool to measure how satisfied you are in these areas at the moment, identify areas for improvement, and think about what steps you can start taking to increase your level of satisfaction.

 
 
 
  •        I've got a big family and every month something comes up that's an emergency. I’m really interested in having a spending plan and emergency fund. Having a Financial Tools class sends the right message that this is something that everybody should sit down and learn.”

    – John, Apprentice

     

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