Financial literacy is important for your financial health. The more you are aware of resources, connections to your community, and products available for you to take advantage of, the closer you are to achieving financial capability.
This resource page is designed to provide you current events, as well as helpful resources and guides for your financial journey.
Click on the topics below to expand the resource.
Favorite Financial Literacy Resources
The Association for Financial Counseling and Planning Education has created a resource page for various links to state directories, mental health agencies, and government updates. The AFCPE is also offering free 1:1 financial counseling to assist individuals in navigating financial uncertainty and hardship. Click here to access the resource page.
A plethora of information regarding savings and money-saving hacks. Access their savings tips and take your own #SavingsPledge!
Visual learners rejoice!! Better Money Habits offers quick articles, infographics, and videos on a variety of financial topics from Bank of America.
Quite possibly my favorite website on the web, The Consumer Financial Protection Bureau has easy-to-follow guides and worksheets to transform your finances.
Intuit offers online financial education modules on everything from the budget basics, to taxes, to FIRE Lifestyles, to small business tips.
The National Foundation for Credit Counseling provides small business, personal finance, credit, and housing tools. They are also offering 1:1 financial counseling near you, but additional fees may apply. Access their resource toolkit on the left-hand side of their homepage.
Browse financial topics to increase your financial capability with Practical Money Skills.
Protecting Financial Data
Financial technology—FinTech—makes it possible to accomplish all sorts of useful financial tasks quickly and easily from a computer, smartphone, or tablet. But it pays to know what you’re doing! (Consumer Action)
Did you know that using your bank, Venmo, Cash App, budget app, etc can actually be a big blind spot for your financial security?
Scary fact: Your apps are actually reading your logins and financial data even when you are not using the app. Plus, just like social media, they sell your information to third parties. AND THAT’S NOT ALL. There are many more blind spots to using this technology.
As financial technology (Fin-Tech) continues to grow in our daily lives, it is important we are taking the correct steps to secure our financial data.
Consumer Action has a great resource center that details how you can protect your financial data. Check out the fact sheets below and all of the news, videos, and related resources at Consumer Action here.
What you need to know about FinTech
Privacy and Security while Using FinTech Apps
Student Loan Forgiveness
2022 Student Loan Forgiveness
On August 24th, President Biden announced sweeping student loan forgiveness for borrowers who have Federal Student Loans. Current students are included in this debt relief and applications for forgiveness are now available.
Who is eligible?
Borrowers with Federal Student Loans that were disbursed before June 30th, 2022. No loans disbursed after July 1, 2022, will be eligible for forgiveness. This includes current students.
Borrowers must make less than $125,000 annually (single) or a combined income of $250,000 if married and filing joint taxes. Income requirements are based on the 2020 or 2021 tax years.
What kind of loans can I get forgiven?
The following types of federal student loans disbursed (when you received your loan funds) on or before June 30, 2022, are eligible for relief:
- All Direct Student Loans (subsidized or unsubsidized)
- Direct Plus Loans (Parent or Grad Plus)
- Federal Perkins Loans
- Federal loans in default status
How much can I get forgiven?
- $20,000 if you received a Pell Grant at any time during school
- $10,000 if you were not Pell Grant eligible
You must meet the income eligibility guidelines.
How do I apply for forgiveness?
The application is currently available to apply. Some individuals may receive an email notification detailing they will receive automatic forgiveness and do not need to apply. This is only if the federal government has your income on file. The vast majority of individuals will need to apply.
What is the deadline to apply for forgiveness?
You must apply by December 31, 2023. However, you will want to apply this fall to avoid having to make payments on the balance when student loan repayment resumes on January 1, 2023.
On August 23rd, 2022, President Biden announced student loan forgiveness for borrowers with federal student loans.
Here’s what we know so far:
- One-time, pandemic-related student loan debt cancellation (tax-free)
- Forgiveness of $10,000 for individuals earning under $125,00/year and up to $20,00 for Pell Grant recipients.
- Eligible loans are borrowers with federally-held undergraduate, graduate, and Parent PLUS loans disbursed by June 30, 2022.
- Borrowers may have loans forgiven automatically, but most will need to file an application. Further information to come.
More information is still to come, but it is best to review your account to see how you may be affected by this recent announcement. Regardless of forgiveness, the second part of this announcement noted that the student loan payment pause will expire on December 31st, so be sure you are taking steps to prepare for repayment.
Read the White House fact sheet.
Read our student loan repayment guide and grab your student loan organizer to stay on top of your loans!
Where to Get 1:1 Help
The Association for Financial Counseling and Planning Education is currently providing virtual one-on-one financial counseling for FREE!
When you work with an AFCPE® certified professional you receive financial education and guidance specific to your unique situation and needs.
Head over to AFCPE to connect with an AFCPE-certified financial professional for free.
(Note: I am partial to this organization as I am currently studying to become an Accredited Financial Counselor through the AFCPE. You can be confident that the counselors you are paired with are held to the highest professional standards for financial counseling and are very knowledgeable!)
If you are looking to build a solid financial foundation, we would love to help! Budget Blueprints offers 1:1 Financial Counseling with an Accredited Financial Counselor at a budget-friendly price! ONE meeting with us could change your entire financial future. See how we can help on our 1:1 Financial Counseling page.
Looking for a little support?
Use this nifty search engine from Winn Companies to connect you to organizations in your zip code. Search by assistance topic – food, housing, adoption, transit, and more!
Dial 2-1-1 on your phone to access the United Way Helpline to get connected to local organizations willing to lend a hand.