A Publication of

A Publication of the National Endowment for Financial Education

Nefe DigestNovember/December 2005

As you read in the previous issue of NEFE Digest, Ted Beck becamepresident and Chief Executive Officer of the National Endowment forFinancial Education® (NEFE®) on October 1. Ted brings the professional

experience and talent necessary to take the organization to the next level of itsgrowth and development. I wish him, the staff, and all associated with NEFE,the very best.

I asked for space in this issue to provide a few personal remarks as I end my 26-year association with NEFE and, before it, the College for Financial Planning.Developing those remarks, however, has posed a bigger challenge than I antici-pated. At first, I thought I would recount the many accomplishments of NEFE,the College, and the great people with whom I have worked. However, as Ireflected over the past two-and one-half decades, I was afraid I would forget asignificant person or event and have concluded that my early ideas for remarksdid not work well.

When I left Kansas City and the traditional academic world in 1979, I could nothave imagined what positive challenges and opportunities were ahead. Ultimately,I’ve come to realize that I have been a most fortunate individual. Thus, I retirefrom the National Endowment to “do other things” with a heart that is happyand full of gratitude.

For this, I want to thank all of the great people I have met and with whom I have worked—Board members, staff, students, graduates, and all associatedwith NEFE and the College.

My sincere thanks and best wishes.

William L. Anthes, Ph.D.

William L. Anthes, Ph.D., will serve as president emeritus of the National Endowmentfor Financial Education through December 31, 2005. In January 2006, he willbegin a three-year term as a member of the board of directors of the FinancialPlanning Standards Board (FPSB). He hopes to remain actively involved withboth the financial planning and the financial literacy communities during hisforthcoming retirement. The NEFE Board of Trustees and staff sincerely thankhim for his vision, dedication, innovation, and numerous contributions toconsumer and professional education.

InsideNew Teen AdvisoryBoard Selected . . . . . . . . . . . . . . . . Page 2

Brochure Helps Consumers Repair Credit . . . . . . . Page 2

NEFE Launches Ad Campaign . . . . . . . . . . . . . . . . . Page 3

Economic Independence Fund Awards $1 Million to Community-Based Organizations . . . . . . . . . . . . . . . . . Page 4

After 26 Years, Anthes Bids Farewell

2 NEFE Digest - November/December 2005

Arecord number of applicationsrecently submitted for the 2005-2006 NEFE Teen Resource

BureauSM (NTRBSM) Teen AdvisoryBoard (TAB), has resulted in the selec-tion of seven special teens to serve onthe board. These young people willoffer their unique perspectives on theNTRB, an interactive and dynamic Website designed to help teens improvetheir money-management skills.

Representing a diverse cross-section ofAmerican teenagers, the newly chosenTAB members traveled from aroundthe country to attend an orientationconference on August 15-17, 2005. At

the conference, the students learnedabout NEFE, discussed personalfinance issues related to them andtheir peers, and offered feedback aboutthe NTRB Web site. During their stay,they also visited the country’s onlybank designed especially for kids andtook a tour of the Denver Mint. Overthe course of their year-long term asTAB members, the teens will assistNEFE staff in developing effective andengaging content for the Web site,evaluate the site’s current material andappearance, and submit various proj-ects related to their own experienceswith money-management issues.

In addition to offering their insightsinto the NTRB Web site and providingfeedback from their peers, for the firsttime, TAB members also will be imple-menting individual financial literacycampaigns in each of their own highschools. During the conference, thestudents brainstormed about possiblethemes for these campaigns, ways toimplement them, and effective strate-gies for having a positive and successfulinfluence on their peers.

For more information about theNEFE Teen Resource Bureau or the Teen Advisory Board log on to www.ntrbonline.org.

New Teen Advisory Board Selected

Back row: Brendan Johnson,Ivan Smith, Brett Shafter,Quincy Jones

Front row: Laurin Reynolds,Kate Powell,Caylen Gore

The average American creditcard debt is about $785 billionor approximately $7,500 per

household,1 a sobering reminder thatmanaging credit is a challenge thatmany individuals have yet to conquer.“Poor credit habits cut across allsocioeconomic lines,” says BrentNeiser, CFP,® director of CollaborativePrograms at NEFE. “Unfortunately,

Brochure Helps Consumers Repair Creditmany Americans fail to realize that anegative credit record can create amajor roadblock to their financial goals,from buying a house to landing a job.”

The good news is that poor credit canbe repaired over time. To help con-sumers improve their credit record,the Financial Planning Association(FPATM), National Foundation forCredit Counseling, Inc.® (NFCC®),

and NEFE developed Overcoming theCredit Barrier: Clearing the Way toYour Financial Goals, a 10-pagebrochure that outlines a step-by-stepapproach to improving credit.

“The brochure draws on the combinedexpertise of FPA, NFCC, and NEFE,”Neiser explains. “For example, FPA

Continued on page 8

“The core message of Overcoming the Credit Barrier is that people can improve their credit by repaying debt, paying bills on time, and ensuring that creditors update

their accounts accurately with the major credit reporting agencies,”

NEFE Digest - November/December 2005

The print ad at right is the firstof five that will be appearing inthis and subsequent issues of

NEFE Digest. The ads are part of thecountry’s first large-scale national finan-cial literacy campaign, being spon-sored by the National Endowment forFinancial Education. The campaign,themed “Not if We Can Help It,”launched in mid-September with tele-vision ads debuting on Time Warner’sCable News Network (CNN) andCNN “Headline News.” The efforttargets members of the general adultpopulation aged approximately 25-60,with an income of $35,000-$100,000.CNN, as well as Time Warner publica-tions and the America Online (AOL)Web site were selected for the cam-paign based on their ability to deliverits key message to members of thetarget audience.

NEFE, with the assistance of LosAngeles-based advertising agencyBenenson Janson, developedtelevision, radio, print, and Internetadvertisements. The ads directAmericans to a newly developed Website, “Smart About Money,” where theycan locate practical information on howto start achieving their financial goals.

Beginning Tuesday, November 1, a “Not If We CanHelp It” television ad will begin national distributionto affiliates of the Public Broadcasting Service (PBS)

as part of the Moneywise series, hosted by Kelvin Boston.The 13-week series will include a 15-second television spotat the beginning and end of each 30-minute segment.

The program also airs on the PBS YOU Adult EducationChannel, which reaches digital cable and direct satellitehouseholds, as well as on the American Armed ForcesRadio and Television Service, reaching military basesthroughout the United States and abroad. PBS affiliates willbe given the opportunity to rerun the series for up to threeyears, resulting in an even greater number of potentialviewers. It is estimated that during the first year of the series,approximately 17 million people will be exposed to the ads.

In addition to thetelevision adver-tisements, Internetbanner ads will bedisplayed on AOL’s“Personal Finance”and “BusinessNews” sections.Print advertise-ments will runthroughout thenext year in avariety of nationalpublications, includ-ing Parenting,Sports Illustrated,Time, People, andReal Simple. Inaddition, a simul-taneous effort ishas been launchedto secure donated space from network television andradio stations throughout the countrywith the distribution of Public ServiceAnnouncements (PSAs).

The campaign encourages Americans“to get smart about their money,” andemphasizes the message that, regard-less of income or life stage, makingfinancially sound decisions doesn’t

3NEFE Digest - November/December 2005

NEFE LaunchesAd Campaign

have to be a scary experience. Byvisiting the Web site, individuals cantap into resources that will help themmake well-informed financial decisions.

Look for the next print ad to appear in the January/February 2006 issue of NEFE Digest. To learnmore about the campaign, visitwww.smartaboutmoney.org.

The topics in the Moneywise segments cover everythingfrom financial empowerment to how economic issues relateto people of color. The 13 segment topics, in the order inwhich they will appear, include:

“Financial Emergencies Big and Small”; “Mutual FundBasics”; “Business Start-ups”; “Girl, Make Your MoneyGrow”; “Military Finances”; “Paying for Health Care”;“Reverse Mortgage”; “Millionaires in the Making”; “The New Retirement Reality”; “Price of Pet Care”; “Credit Counseling—Good, Bad, and Ugly”; “EconomicEmpowerment 101”; and “One-On-One with AmbassadorAndrew Young.”

For information about the “Not If We Can Help It”campaign, visit www.smartaboutmoney.org.

New NEFE Financial Literacy Campaign Airs on PBS

4 NEFE Digest - November/December 2005

A meriprise Financial, Inc.,formerly American ExpressFinancial Advisors, recently

granted $1 million to 35 nonprofitorganizations nationwide through the Economic Independence Fund(the Fund), a grantmaking programthat, since its inception in 1999, hasbeen administered by the NationalEndowment for Financial Education.

The Economic Independence Fundseeks to support local nonprofitorganizations as they implement newfinancial education programs in theircommunities. These programs typicallysupport disadvantaged and under-served individuals. The Fund hasawarded more than $3.5 million to 136 community-based organizationsacross the country since its firstgrants were announced in 2000.

“The reach of the EconomicIndependence Fund is substantial,”says Mare Canfield, director of GrantsAdministration at NEFE. “By grantingmoney to local nonprofit groupsthroughout the country, the Funddirectly impacts thousands of individ-uals and families, improving theirfinancial health, and, by extension,their overall well-being.”

Grants awarded by the EconomicIndependence Fund support localcommunity organizations seeking toincorporate financial literacy programsinto their existing services. Grant recip-ients rely on the Financial EducationClearinghouse, an online database ofexisting financial education curriculaand materials, to develop these projects.The Financial Education Clearinghousealso is funded by Ameriprise Financial,Inc., and is administered by NEFE.

The Fund awards grants annually foramounts ranging from $15,000 to$30,000 for projects with a durationbetween 12 and 24 months. This year’sprojects, selected from a pool of 502applicants, target a broad range ofconstituents, including newly employed

individuals, young workers, peoplemoving from welfare to work, andimmigrants. Funded projects focus onteaching a broad range of financialtopics, from daily money managementto retirement planning to self-sufficiency training.

“Our work is centered on shapingfinancial futures for a lifetime,” saysJames Cracchiolo, Chairman and CEOof Ameriprise Financial, Inc. “Financialeducation is the first step, and it isespecially critical to make it accessibleto people during pivotal times in theirlives. If we can help them establishhealthy budgeting, spending, andsaving habits, we can help thembecome—and remain—financiallyindependent for life. The net effect forsociety at large is a reduction in povertyand its incumbent problems.”

Following is a list of this year’s grantrecipients and a brief description oftheir projects. For more informationabout the Economic IndependenceFund, visit www.nefe.org, and click on“Grantmaking.” To access the FinancialEducation Clearinghouse, click on“Multimedia Access.”

AchieveAbility, Inc., Philadelphia, Pennsylvania:“AchieveAbility Family FinancialFreedom Project” ($30,000)This project will support those movingfrom welfare to work, the newlyemployed, young and low-incomeindividuals, the formerly homeless,and single-parent families. It willprovide these groups with a financialand economic literacy program,including formal classes, tutoring, and peer mentoring.

Akron Summit Community Action,Inc. Akron, Ohio: “YouthBuildFinancial Literacy Program” ($30,000)Akron Summit Community Action,Inc., is an anti-poverty agency servinglow-income individuals. This grant will

add financial literacy training as acomponent of the organization’sYouthBuild program, which is aimedat 18- to 24-year-old, low-income highschool dropouts, who are in need ofvocational skills development,counseling, and leadership training.

Anchorage Literacy Project,Anchorage, Alaska: “My Money” ($30,000)“My Money” classes will presentfinancial management information toadults with low-level reading skills.Over the course of two years, theprogram will provide basic financialeducation to 224 adult learners byintegrating financial content intoreading classes. Thus, learners willimprove their reading skills whilereceiving a financial education.

Appalachian CommunityEnterprises, Inc., Cleveland,Georgia: “Together We Can: ThePeer Prosperity Network” ($30,000)This program will help strugglingmicroentrepreneurs with a history offinancial problems develop new waysof perceiving their relationship withmoney. It will focus on changingnegative mental and psychologicalthought patterns through a variety of techniques, including a “MoneyCampTM for Grown-ups” and peersupport groups.

The Arc of Anne Arundel County,Annapolis, Maryland: “ProjectIncome: Financial IndependenceTraining” ($27,500)This program targets individuals withdevelopmental disabilities who are newlyemployed, creating microenterprises,or wish to acquire economic independ-ence. The Arc will utilize the FinancialEducation Clearinghouse materials totrain staff members, individuals, andtheir “Circles of Support” (familymembers, caregivers, etc.) with theultimate goal of helping the targetedindividuals manage their finances.

Economic Independence Fund Awards $1 Million to Community-Based Organizations

5NEFE Digest - November/December 2005

Boat People S.O.S., Inc.,Chamblee, Georgia: “Road toIndependence Through Savingsand Education (RISE)” ($30,000)RISE will provide financial educationfor Vietnamese women who speakvery little English and “Amerasians”—abandoned children of U.S. service-men who lack basic literacy skills.Coming from a cash-based economy,many of these individuals do not havea bank account and have never usedfinancial services in the U.S. Projectactivities will include monthly work-shops presented in Vietnamese, fourradio talk shows, and the productionof an educational video for workshopparticipants to take home.

BuildaBridge International,Philadelphia, Pennsylvania: “The Money News Network” ($30,000)This project targets unemployedand/or underemployed residents inhomeless shelters and transitional andgroup homes. Individuals will view“The Money News Network,” a finan-cial management program comprisedof interactive segments that introducemoney-related terms and concepts.The program will be supplementedwith group meetings, workbookassignments, and interactive gamesheld in a classroom setting.

Champlain Valley Office ofEconomic Opportunity, Inc.,Burlington, Vermont: “Life Savings Program” ($30,000)This program will provide criticalfinancial education to young workersand individuals moving off welfare. Itsgoal is to help individuals in takingmeasurable steps toward self-sufficiencythrough classes, counseling, net-working seminars, and an innovativementoring strategy involving bankers.

Community Action Project ofTulsa County, Inc., Tulsa,Oklahoma: “FinancialManagement Education Project” ($30,000)This financial management educationcourse, offered in both English and

students with the goal of discouragingparticipants’ use of predatory lenders,rental centers, and high-fee check-cashing services.

Interval House, Long Beach,California: “Interval HouseFinancial Literacy Program” ($30,000)This program will provide financialliteracy and money-managementtraining to low-income women andindividuals who are victims of domesticviolence. The financial managementworkshops will emphasize basic topicssuch as building savings, budgeting,banking, and credit management.

ISED Ventures, Des Moines, Iowa: “Financial EducationServices to Welfare-to-WorkFamilies and Individuals” ($30,000)ISED Ventures will provide financialeducation services to 300 individualscurrently participating in the TemporaryAssistance to Needy Families (TANF)program. Clients will complete a per-sonal budget and receive a copy oftheir credit report. Individuals withcredit or debt problems will completea debt reduction plan with a financialcounselor. Those who do not currentlyhave accounts through a local bankcan open them with two financialinstitutions in Des Moines. In addition,clients can access ISED Ventures’asset development programs, includingIndividual Development Accounts andmicroenterprise services.

Maryland Council on EconomicEducation, Towson, Maryland:“Freedom Through FinancialEducation—An Opportunity forInmates Enrolled in the GEDProgram in Maryland CorrectionalInstitutions”($25,000)To better prepare prisoners for theirlife after incarceration, the MarylandCouncil on Economic Education willhelp Correctional Education Programteachers incorporate personal financeinto the GED Correctional Education

Continued on page 6

Spanish, will teach low- to moderate-income individuals how to createspending plans, manage and reducedebt, and grow their assets. The coursewill strengthen participants’ financialknowledge, help them budget forstability, and improve their ability toreach and maintain self-sufficiency.

Easter Seals Southern California,Inc., Santa Ana, California:“Home Select Financial LiteracyEducation” ($25,000)The goal of this project is to help low-income, English- and Spanish-speakingadults and individuals with disabilitiesbecome more fiscally knowledgeableby learning how to manage theirfinancial resources. Participants willacquire lifelong money-managementskills, including record keeping,budgeting and planning, credit cardmanagement, and banking.

Family Service of Greater BatonRouge, Baton Rouge, Louisiana:“Budgeting Wisely to AchieveYour Goals in Life” ($23,000)Family Service of Greater Baton Rougeassists low-income parents with criticaltransportation needs through smallloans of $500-$3,000. The organizationwill extend and expand applicant knowl-edge about all aspects of wise moneymanagement by adding a financialliteracy component to existing grouporientation sessions.

Hillside Work-ScholarshipConnection, Rochester, New York:“Financial Literacy Initiative” ($30,000)Hillside Work-Scholarship Connectionprevents at-risk students from drop-ping out of high school by helpingthem work toward graduation, employ-ment opportunities, and secondaryeducation. This project will train staff to provide financial education to

6 NEFE Digest - November/December 2005

Continued from page 5

Program. Inmates enrolled in theGED program will learn financialskills that will help them transition to a successful independent life.

Metropolitan Family Service,Portland, Oregon: “Choices for aHealthy Financial Future” ($30,000)This program will help low-incomefamilies and individuals increase theirunderstanding of basic money conceptsand reduce their risk for debt problems,bankruptcy, and inadequate retire-ment savings. In classes offeredthroughout the community, clientswill establish financial goals, createaction plans, track spending, andlearn to reduce debt and increasecredit scores.

Minneapolis Urban League,Minneapolis, Minnesota: “YoungProfessionals Money ManagementProgram” ($16,500)

The Minneapolis Urban League willhost eight financial literacy classes forclients from underserved and unedu-cated populations. This project seeksto educate members of minority groupson the basic money-managementskills needed to accumulate wealthand move toward becoming econom-ically self-sufficient.

Mississippi State University,Starkville, Mississippi: “Healthy,Wealthy, and Wise Peer FinancialEducation Program” ($30,000)Students about to enter the workforce,welfare-to-work recipients, Hispanicimmigrants, new hires of governmentagencies and businesses, dislocatedworkers seeking new employment,military families, and communitymembers with limited resources arethe targets of this project. They willstrive to reduce their debt, increasetheir savings, and gain confidence in their ability to make wise financialdecisions by participating in briefeducational sessions in familiarcommunity settings.

Operation ABLE of Michigan,Detroit, Michigan: “OperationABLE Retirement Savings Project” ($30,000)The Operation ABLE RetirementSavings Project is designed to bringfinancial and retirement saving educa-tion to mature, low-income AfricanAmericans living in the Detroit area.Participants will increase their financialknowledge and confidence, develop apersonal financial plan, and establish asavings account.

Pathways Behavioral Services,Inc., Waterloo, Iowa: “SmartMoney Management” ($30,000)The “Smart Money Management”program will help individuals workingto overcome alcohol and drug additionsacquire the knowledge and skillsnecessary to manage their personalfinances wisely. In order to increaseits effectiveness, the curriculum isdesigned to be user-friendly, uncom-plicated, and sensitive to the issuesfaced by people recovering fromaddiction.

Penquis Community ActionProgram, Inc., Bangor, Maine:“Safe & Independent” ($29,000)Domestic violence victims will receivefinancial education to help them livesafely and independently from theirabusers. The project will includefinancial education classes and one-on-one counseling. Women will increasetheir knowledge and skills concerningmoney management and will learn toinitiate positive financial behaviors,such as developing budgets andsetting financial goals.

Plumb Place, Inc., Emporia,Kansas: “Financial Literacy Project” ($19,000)Many residents of Plumb Place, an organization which provides

transitional housing to women inneed, lack basic money-managementskills that would allow them to moveinto permanent housing and be morefiscally responsible. Each participantin the program will learn the basicskills of budgeting, record keeping,banking, and saving.

Pro Action of Steuben and Yates,Inc., Bath, New York: “WealthHealth Skills Program” ($30,000)Over three-fourths of this organization’scurrent clients—low- and moderate-income families—have expressed aninterest in building upon their personalfinance skills. This project will train apool of volunteers to work with partic-ipants on financial skills developmentin class settings, small group sessions,and one-on-one situations.

Resource Center for Women, Inc.,Largo, Florida: “Making EveryDollar Count” ($30,000)Participants, primarily low-incomeworking women, will be taught to mas-ter new financial behaviors, such asbudgeting, comparison shopping,paying bills, and using financial insti-tutions. This will enable them toeffectively manage their own personalfinances and plan for the future. Hands-on financial literacy training willincrease their chances of becomingand staying economically self-sufficient.

Sacramento Mutual HousingAssociation, Inc., Sacramento,California: “Train-the-TrainerProgram for Financial EducationGraduates” ($30,000)Sacramento Mutual HousingAssociation has provided qualityfinancial information to residents of itsproperties since 2000. The organizationnow aims to train several programgraduates to become compensatedpeer workshop facilitators for theirneighbors who express interest infinancial literacy. Ten educators eachwill help at least 20 of their peerslearn to save, use credit wisely, andreduce debt.

7NEFE Digest - November/December 2005

Sistercare, Inc., Columbia, South Carolina: “FinancialLiteracy for Domestic ViolenceSurvivors Program” ($30,000)This project will integrate financialliteracy education into the program of services that Sistercare provides for battered women who are stayingin the organization’s emergencyshelters. Financial education will beconducted in the shelter, wherevictims of domestic violence reside for up to 60 days.

Skills for Living, Inc., Houston,Texas: “Skills for LivingCommunity Program” ($30,000)Skills For Living offers financial edu-cation programs to low-income familiesin Habitat for Humanity communities.This project will allow the organizationto expand its programs to 50 families.The goal is to reduce foreclosurerates, increase household incomes by7.5 percent, improve savings rates andfamilies’ net worth, and provideongoing financial services that willcontinue to build the community.

Solutions CommunityDevelopment Corporation, Inc.,Holyoke, Massachusetts:“Financial Power Pathways” ($30,000)Through a six-hour money-managementseminar, individual counseling, andmonthly two-hour workshops, 120 low-and moderate-income residents willlearn to change their behavior regard-ing the management and planning oftheir personal finances and credit.

Umpqua Community DevelopmentCorporation (UMDC), Roseburg,Oregon: “Financial FitnessProgram Expansion” ($30,000)UMDC’s Microenterprise Developmentand Lending (MEDAL) Programprovides financial and businesstraining, technical assistance, andsmall business loans or matchedsavings to low-income populations.Basic knowledge of budgeting,banking, building credit, and loanprocedures usually is absent within

the target audience. By adding afinancial literacy training componentto its current business training,UMDC hopes to enhance the successrate of this program.

University of MinnesotaFoundation, Minneapolis,Minnesota: “Minnesota LatinoFinancial Literacy Project—Learning and Sharing BestPractices” ($30,000)This project will evaluate and adapt afinancial education curriculum foreffective use with low-income, Spanish-speaking families in Minnesota, manyof whom are immigrants. The curricu-lum will be available for later replicationby educators across the country.

West Side Ecumenical Ministry,Cleveland, Ohio: “BilingualFinancial Literacy Program” ($30,000)In Ohio, the Hispanic communityexperiences an unemployment rate of29.4 percent, higher than that of anyother ethnic group in the state. Financialmismanagement may contribute tothese individuals’ inability to attainself-sufficiency. This project intends to help Spanish-speaking individualsmake sound financial decisions thatultimately will strengthen their familyunit and enhance long-term prospectsof continued employment.

Worcester Youth Center, Inc.,Worcester, Massachusetts:“Financial Literacy 101” ($30,000)This financial literacy program will beprovided to low-income children andyoung adults. The project is to includeclasses, interactive activities, and gamesconducted at convenient locations toallow easy access to participants.Incentives will be provided to encour-

age the establishment of savingsaccounts. Participants also will developpersonal budgets and establish goalsto direct their financial plan.

Young Women’s ChristianAssociation of Chester County,West Chester, Pennsylvania:“Project Independence” ($25,000)This project is designed for recentlydivorced and widowed women, as wellas women moving from welfare towork. Its goal is to increase theirfinancial knowledge and give themskills to improve their financial well-being. The women will attend eighttwo-hour classroom sessions over atwo-month period and also participatein four individual consultations withthe instructor.

YWCA National Capital Area,Washington, D.C.: “BuildingPathways for Women and Work” ($30,000)More than 35,000 children inWashington D.C. live in poverty, and82 percent of them live in householdsheaded solely by women. This projectwill address the significant barriersthat thwart families’ ability to achieveself-sufficiency. The financial literacycomponent of this program will offerthese women personal money-management skills that will equipthem to maximize their earnings andplan for their families’ future.

YWCA of Greater Pittsburgh,Pittsburgh, Pennsylvania: “YWCAGreater Pittsburgh FinancialLiteracy Empowerment Program” ($30,000)The median incomes of Pittsburgh’sfemale workers in various sectors areamong the lowest in the nation. Below-average incomes and lack of money-management skills often send thesewomen into debt, resulting in financialdependence on public assistance andpredatory lenders. Through a seriesof 24 workshops, this program willprovide financial education to impov-erished women and mothers currentlyparticipating in employment programsor using childcare subsidies in orderto maintain their jobs.

8 NEFE Digest - November/December 2005

5299 DTC BoulevardSuite 1300Greenwood Village, CO 80111-3334

© October 2005, National Endowment for Financial Education (NEFE). All rights reserved. NEFE Digest, NEFE Press,NEFE HIGH SCHOOL FINANCIAL PLANNING PROGRAM, and NEFE TEEN RESOURCE BUREAU are service marks ofthe National Endowment for Financial Education. Certified Financial Planner and CFP are marks of the CertifiedFinancial Planner Board of Standards, Inc.All questions regarding NEFE Digest may be addressed to the Communications department, Editor: Rena Gardenswartz. NEFE is open Monday through Friday, from 8:30 a.m. to 5:00 p.m. Mountain Time. The main telephone number is (303) 741-6333; the fax number is (303) 220-0838. Visit the NEFE Web site at www.nefe.org.

NEFE Digest is published bimonthly by the National Endowment for Financial Education, 5299 DTC Boulevard, Suite 1300, Greenwood Village, CO 80111-3334.

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made the point that when a financialplanner’s client has credit problems, it creates an obstacle for many thingsthat the planner could otherwise dofor the client. Getting their creditrepaired is a necessary first step theseclients must take.”

Profiles of people from various back-grounds and income levels are includedin the booklet to illustrate how a lackof knowledge about credit issues andpoor choices can negatively impact onone’s ability to reach financial goals.The brochure encourages consumers,where appropriate, to enlist the servicesof professionals who work for nonprofit

credit counseling organizations, suchas NFCC certified credit counselors.Tips are provided for choosing acredit counselor, as well as forinterviewing and selecting a qualifiedfinancial advisor, such as a CertifiedFinancial Planner® (CFP) certificant.

“The core message of Overcoming the Credit Barrier is that people canimprove their credit by repaying debt,paying bills on time, and ensuring that creditors update their accountsaccurately with the major creditreporting agencies,” Neiser says.

FPA is a national membership organ-ization for financial planners, includingCFP certificants. NFCC is the longest

serving and largest network of non-profit credit counseling agenciesnationwide. NFCC members aremostly known as Consumer CreditCounseling Services (CCCS). Formore information, visit FPA’s Web siteat www.fpanet.org and NFCC’s Website at www.nfcc.org.

1 CardWeb.com, Inc.

Brochure Helps Consumers Repair Credit

Holiday ClosingsNEFE will be closed November 24-25 for Thanksgiving, andDecember 23, 26, and 27 forChristmas.