Blog

Common wisdom is to pay down high interest debt before saving. I mean, it makes sense right? If you are saving in an account that pays less than 1% and the interest being charged on your outstanding debt is higher you are, in effect, hemorrhaging cash. I picture it like...

February 25, 2016

In May 2015, the Consumer Financial Protection Bureau (CFPB) launched its Financial Coaching Initiative, targeting recently-transitioned veterans and economically vulnerable consumers to help them with their financial goals. The program places 60 certified financial coaches at organizations around the country to provide individualized educational services.A client shares her story about working...

February 24, 2016

Forgotten Money Turns to SavingsWhether a jar, a tray or a drawer, we all have a place where our loose change accumulates. Just sitting in these forgotten places, our loose change grows, but it earns no compound interest and gets us no closer to reaching our goals. This forgotten money...

February 23, 2016

“Success is the sum of small efforts repeated day-in and day out”Today marks the beginning of America Saves Week 2016. Since 2007, this week has provided an opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. This week, we invite you to...

February 22, 2016

Yes, I know we just celebrated 2015 Holidays, but this is a great time to think about what went well, what didn’t, and how to make changes so that our 2016 Holiday can be successful without breaking the bank. While you are sifting through those holiday receipts and credit card...

February 01, 2016

Erica Tobe, an Extension Specialist and fixed-term Assistant Professor at Michigan State University (MSU), is passionate about helping to identify the social and economic needs of families. This passion is evident throughout many of her current initiatives, but especially in her current project, Starting over after Foreclosure, an online self-paced course...

January 27, 2016

Dear AFCPE Members and Stakeholders, As my Board Presidency draws to a close, I cannot help but reflect on the progress we have made as an organization. When I attended my very first conference as a graduate student in 1998, I remember feeling inspired and awestruck by my esteemed colleagues...

December 22, 2015

The particular irony of working as a financial counselor is that we often come across people who have a critical need for our services, but cannot afford them (because they need financial counseling). While we may be able to donate our services occasionally, it is not something most of us...

December 17, 2015

Families with college aspirations for their kids are erroneously relying on the dream of sports scholarships instead of the challenging work of savings. The practice of saving is very tough.  A study by the Pew Charitable Trust reveals a third of all adults are not saving at all!  It is no surprise...

December 15, 2015

Most parents desire their teenagers to be a wealth of financial savvy - saving crazily and spending wisely. However, the reality is that at this point in their lives, our teenagers may not hold the same affinity to become financially stable adults.My teenager is a case in point. He is...

December 08, 2015

As a Financial Counselor, if you have never gone through the process of grief yourself, then you may find it difficult to know what to say to, or how to work with, a client who is currently grieving. The first step is to understand some of what your client is...

December 04, 2015

One important factor in planning a financial strategy, and a step so often overlooked, is taking a look at the emotions behind the purchase. Emotions are closely linked to financial habits. If you spend time thinking about the philosophy behind your purchases, you will likely find yourself in a better...

December 02, 2015