Latest news with #financialeducation
Yahoo
3 days ago
- Business
- Yahoo
New Survey Highlights Credit Knowledge Gaps Among U.S. Adults
Credit One Bank Launches "The Credit Wreckers" Campaign to Help Consumers Avoid Credit Pitfalls and Build Better Credit LAS VEGAS, July 28, 2025 /PRNewswire/ -- A new survey conducted by Credit One Bank, a leader in the credit card industry, reveals a lack of knowledge of credit fundamentals among U.S. adults who own credit cards. The findings point to critical knowledge gaps in areas such as credit utilization, payment behavior, closing unused accounts and how these behaviors can negatively affect credit scores, underscoring the pressing need for financial education from a credible source. "Financial setbacks can affect anyone but understanding how credit works is a game-changer when building or rebuilding your financial future," said Steve Min, Chief Credit Officer at Credit One Bank. "Our recent survey results revealed that many Americans lack foundational knowledge about credit. By providing education resources, Credit One Bank aims to empower individuals to take charge of their credit health and build a stronger financial future." Survey Findings †The survey, conducted in partnership with YouGov, highlighted critical gaps in credit knowledge among U.S. adults who own credit cards: 72% were unaware that a missed payment can stay on their credit report for up to seven years. 65% were unaware that the maximum amount of available credit they should use at any given time is 30%. 70% were unaware that they should keep their oldest credit card accounts open and use them at least once every few months. 48% were unaware that creditors may close accounts due to inactivity, thus potentially reducing the length of their credit history. 34% didn't understand the difference between a hard and soft credit inquiry. These survey results revealed an opportunity for Credit One Bank to empower people on their credit journey by promoting greater financial literacy. Introducing "The Credit Wreckers" Campaign Today, Credit One Bank launched "The Credit Wreckers," a character-driven campaign spotlighting common credit missteps and encouraging improved credit habits. Each character personifies one of these missteps in a playful, easy to understand and informative way. Max Out: Max Out's eyes are bigger than his wallet. When he sees something he wants, he buys it…and his credit score pays the price. What Max Out doesn't know is that he should only use 30% or less of his available credit, because using his full line can lower his score.1 Miss Payment: Miss Payment means well, but more often than not, she misses her monthly credit card payments. What she doesn't know is that each missed payment can stay on her credit report for up to seven years. If only she would set up Autopay, she'd never miss a payment again.2 Cancelina: Watch out for Cancelina. She just loves canceling her unused credit cards once they're paid off. But what she doesn't know is that canceling them can decrease the length of her credit history and hurt her credit mix.3 "The Credit Wreckers campaign brings to life seemingly small actions that can wreck your credit score without you realizing it," said Amber Greenwalt, SVP of Brand and Advertising at Credit One Bank. "Small, incremental changes can have a big impact on improving credit health. Our goal with the Credit Wreckers is to simplify complex topics, and provide actionable tips, all while making it fun and relatable. Credit building doesn't have to be daunting, and this campaign is about making credit easier to understand for everyone, no matter where they are in their financial journey." The Credit Wreckers campaign comes to life across an integrated ad campaign narrated by actor Chris Parnell. The ads are featured across broadcast and social. To explore the Credit Wreckers campaign and meet the characters, visit For more financial tips, visit Credit One Bank provides credit education resources to help individuals understand and improve their credit health. From in-depth articles on over 20 topics to practical tips and insights, the company is dedicated to equipping cardmembers with the knowledge to help them make well-informed financial decisions. 1 Source: Credit One Bank, "4 Habits People with Good Credit Possess", Source: Credit One Bank, "How Long Does a Late Payment Stay on your Credit Reports", Source: Credit One Bank, "Should I Cancel My Credit Card", Survey Methodology †All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,007 adults, of whom 1469 have a credit card. Fieldwork was undertaken between 28 May - 2 June 2025. The survey was carried out online. The figures have been weighted and are representative of all U.S. adults (aged 18+). About Credit One Bank Credit One Bank is a financial services company and one of the fastest-growing credit card issuers in the U.S. Founded in 1984 and headquartered in Las Vegas, Credit One Bank offers a full spectrum of credit card products including cash back and points-based cards as well as high-yield certificate of deposit and savings accounts. Credit One Bank is also an official partner of the Las Vegas Raiders and the Official Credit Card of NASCAR, the Vegas Golden Knights and Best Friends Animal Society. Learn more at in our Newsroom, or on social media (@CreditOneBank) on Facebook, Instagram, YouTube and LinkedIn. Contact InformationScott MatulisPublic Relations DirectorEmail: 702.957.5327Mobile: 818.451.8918 View original content to download multimedia: SOURCE Credit One Bank Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
SanchezGarrison & Associates Launches Campaign to Educate Maryland Residents on Bankruptcy Options
Public initiative seeks to dispel misconceptions and offer practical insights into debt relief as financial pressures rise across the state. Baltimore, Maryland--(Newsfile Corp. - July 27, 2025) - SanchezGarrison & Associates, LLC has launched a public awareness campaign aimed at helping Maryland residents better understand their options under U.S. bankruptcy law. The initiative focuses on clarifying common misconceptions about bankruptcy and offering accessible guidance on debt relief, as a growing number of households face mounting financial strain. SanchezGarrison & Associates Launches Campaign to Educate Maryland Residents on Bankruptcy OptionsTo view an enhanced version of this graphic, please visit: The campaign represents an expansion of the Baltimore-based bankruptcy law firm's outreach efforts, incorporating public education into its broader legal support services. As part of the initiative, SanchezGarrison & Associates has released a series of online resources outlining key distinctions between Chapter 7 and Chapter 13 filings, eligibility requirements, and the structure of repayment plans. The firm is also hosting informational webinars and collaborating with community organizations to broaden access to legal knowledge. According to the firm, misinformation remains one of the biggest obstacles for individuals considering bankruptcy, with many still believing that filing permanently harms financial futures. Bankruptcy is a legal process designed to provide a fresh start, not a reflection of personal failure, the firm said. Through this campaign, the team wants to ensure Marylanders have accurate and practical information when evaluating their financial options. The educational materials explain that Chapter 7 bankruptcy typically allows eligible individuals to discharge most unsecured debt through a court-overseen liquidation process. Chapter 13, by contrast, offers a structured plan to repay debts over time for those with steady income. The campaign also addresses related topics such as debt consolidation, communicating with creditors, and assessing the benefits of filing bankruptcy. SanchezGarrison & Associates noted that a 32% rise in personal bankruptcy filings across Maryland in 2024 played a key role in the decision to launch this campaign. The firm described the effort as aligned with its mission to provide legal support for residents facing financial hardship. Many individuals delay exploring bankruptcy due to stigma or incomplete information, the firm said. This initiative is intended to provide clarity, enabling residents to consider their options with greater confidence. For those seeking a Baltimore bankruptcy lawyer, the firm offers both virtual and in-person consultations as part of its commitment to accessibility. The campaign also addresses Maryland-specific legal considerations. Unlike some states, Maryland uses federal exemption laws in bankruptcy cases, which can lead to unique asset protection concerns. The firm's resources help residents understand issues such as wage garnishment, creditor harassment, and the legal protections available during bankruptcy proceedings. Residents are encouraged to explore the firm's online resource center and schedule a consultation when ready. As a dedicated bankruptcy law firm, SanchezGarrison & Associates provides legal representation focused exclusively on helping individuals and families overcome debt. About SanchezGarrison & Associates, LLC SanchezGarrison & Associates, LLC is a Maryland-based bankruptcy law firm that assists clients with Chapter 7 and Chapter 13 filings, creditor negotiations, and long-term financial strategies. With more than 50 years of combined legal experience, the team serves clients across the state, offering both remote and in-person consultations. The firm focuses on delivering tailored solutions to those navigating financial difficulty. Contact Info:Name: Alexander SanchezEmail: asanchez@ SanchezGarrison & Associates, LLCPhone: 443-945-2057Website: To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Robert Kiyosaki's Top Advice That You Should Probably Avoid
In 1997, a mostly unknown finance expert self-published a book that would become a household name and sell over 44 million copies. That book is 'Rich Dad, Poor Dad' by Robert Kiyosaki. Check Out: Read Next: Since its release and success, Kiyosaki has been giving out financial advice through his podcast, YouTube channel, social media posts, interviews and other books. However, not all of his advice is widely accepted and right for everyone. Here are two pieces of advice from Kiyosaki that you should think twice about. Don't Save For most, saving money is a no-brainer when it comes to improving your finances. However, Kiyosaki has some controversial advice that he's been saying for years: 'Saving money doesn't make you rich.' Kiyosaki said saving is a way to play it safe and will actually hold you back. When you save money, you lose value to inflation and miss growth opportunities while your money remains stagnant. Instead, he suggested putting your money toward real estate, investments or businesses that would either produce passive income or grow in value over time. He also suggested putting money toward financial education rather than saving. For some, this may be good advice, but there are reasons to save. One main reason is to have an emergency fund. Emergency funds can keep you from going into debt when unexpected events and costs arise. If you suddenly need to pay for car maintenance, a medical emergency or cover your living costs when you are unemployed, an emergency fund will cover the expenses, and you won't need to take out a loan or use a credit card. Most personal finance experts recommend saving three to six months' worth of expenses as a safety net. Learn More: Don't Use 401(k) Plans Kiyosaki often urges his supporters to invest their money to build wealth, but one investment he doesn't recommend is a 401(k). Many financial experts will advise you to contribute the maximum monthly amount possible to your 401(k) and say it's the easiest way to grow your money. However, Kiyosaki thinks you should put your money elsewhere for several reasons. Having a 401(k) means you'll have to pay administrative fees, and in Kiyosaki's eyes, that makes it expensive. You could easily find other investments that you'll pay less for and therefore make more money overall. Likewise, employers often determine what your 401(k) plan will consist of, leaving you powerless over your own investments. Again, putting your money elsewhere will give you more control. Finally, according to Kiyosaki, there are tax disadvantages for investing in a 401(k). When you make a withdrawal from your 401(k) in retirement, you pay taxes at your ordinary rate. Paying the capital gains tax on any profits you've made would mean paying a lot less in taxes. As Kiyosaki said, it's true that capital gains tax is more favorable than paying your income tax rate. However, by the point of withdrawal, you've already received several tax breaks. You get to make contributions to your 401(k) with pretax dollars, meaning you get to put more money into your account that can grow. If you paid taxes first and then put the remaining amount into a 401(k), you'd have a significantly smaller amount to invest. Your money also grows in your account over time without needing to pay capital gains tax. Because of this, you'll end up making more over the long term. On top of the tax breaks, many employers offer 401(k) matching. When you contribute a certain amount each month, the employer will match that amount and double your contribution. This is the safest way to double an investment, and the only drawback is that you must wait until retirement to withdraw the funds. More From GOBankingRates 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on Robert Kiyosaki's Top Advice That You Should Probably Avoid Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Daily Mail
7 days ago
- Business
- Daily Mail
Could YOU do a child's maths homework? Take our test to find out
One in three adults, 32 per cent, say they don't have enough basic maths knowledge to help a child with their homework - and their finances could be suffering as a result. As many as 27 per cent of adults have faced financial issues or put off financial tasks in the last year, according to research from Barclays. Of course, Pythagoras' Theorem and quadratic equations might not exactly translate to problems involving your mortgage or credit card rates, but they can teach useful skills such as critical thinking and logic. Despite a number of benefits from school maths classes, they tend to be lacking in direct financial applications to help students in later life, leading to the current situation in which many adults are finding themselves. This is Money has previously reported that financial education is falling short in schools. Recent figures show 84 per cent of schoolchildren want financial education to be included in the new national curriculum. How much primary school maths could you help with? You might not be willing to try your hand at A-Level or GCSE maths papers, but what about when it comes to primary school maths? How many of these questions, taken from past SATs papers, can you answer? 1. Write the missing square number (X) to make this addition correct. 8² + X² = 73 2. Write the missing number to make this calculation correct. 754 × 6 + 754 × 3 = 754 × [ ] 3. Write the missing number to make this division correct. 15,000 ÷ [ ]= 75 Vim Maru, CEO of Barclays UK said, 'We know that people's relationship with money starts to be formed around the age of seven so it's crucial that we are providing children with the number confidence to help them manage and grow their finances in later life.' Figures from audience research firm KidsKnowBest reveal that 46 per cent of children aged 7-14 are worried about money and their future, with 38 per cent saying they are stressed about finances. Eight out of ten adults believe that more resources dedicated to using maths in everyday life would improve financial confidence in the future, with the same proportion recognising that these skills are essential for making informed financial decisions. People are at least aware of their shortcomings, with 39 per cent keen to improve their number skills, according to the research. More younger people too, some 61 per cent, said they would like to improve their numeracy skills. Some 43 per cent said they think their finances would be in a stronger position if they had better skills and confidence when it comes to maths. Among those aged 18 to 27, this figure is even higher, with 76 per cent saying their finances would benefit from having deeper mathematical knowledge. Sam Sims, chief executive of charity National Numeracy said: 'We encourage everyone to have the basics of numeracy in place before they reach for their calculators, so they can understand the calculation, make sense of the numbers, and spot if something is not right. 'Having the confidence to use numbers in daily life is a vital skill - whether for work, helping children with homework, or managing money. And not feeling number confident is nothing to be ashamed of - millions of people in the UK feel the same, but everyone can improve with some practice and the right support.' Barclays has partnered with National Numeracy to train 'numeracy champions' in 60 primary schools, which it says will help to boost the numeracy skills or 13,000 children, parents, carers and staff. Sims said: 'Our new partnership with Barclays will help thousands of people build that confidence, supporting better decisions at home, in school and with their finances.'
The Sun
23-07-2025
- Business
- The Sun
How to end summer RICHER than you started it – from ‘loud budgeting' to the 50:30:20 rule
THE six-week school holidays aren't typically an easy time to try and save money - but imagine if you could end the summer richer than you started? Financial educator and author Bola Sol believes you can do just that - without missing out on memory-making fun with the family. Parents spend an average of £1,000 a week on their children during the summer holidays, according to new research. But Bola, 33, from London, is on a mission to help more women, especially mums, take control of their finances. "Money confidence isn't about having more, it's about making what you have work better for you and your family," she says, Bola started blogging about personal finance a decade ago. Since then, she's become a qualified financial adviser, grown her Instagram following to 37,200 and has published two best-selling books, Your Money Life and How to Save It: Fix Your Finances. Here's her top tips for the richest - in all sense of the word - summer of your life. Practise 'loud budgeting' Money is a huge taboo subject for many Brits, with many fearing it is impolite or inappropriate to discuss. In fact, nearly half of UK adults avoid financial conversations, according to one study. This summer is the time to change that, according to Bola. 'Letting family, friends and your children know where you are with your money (without showing them your bank statements) is crucial,' she says. Families can get FREE washing machines, fridges and kids' beds or £200 payments this summer – and you can apply now 'By practising 'loud budgeting' you can create boundaries by openly addressing the social pressures to spend.' Being vocal about your financial boundaries is vital at a time when friends suggest - and the kids are begging for - pricey trips to theme parks, the cinema and the zoo. 'Everyone is dealing with different money pressures and priorities,' she says. 'Being transparent makes it easier to say 'no'. Also, when you speak about money, you empower others to do the same.' Learn to say no But you can have fun and bag some new toys, books and clothes without spending a penny by hosting a 'swap circle day'. Bola says: 'This idea has grown traction in recent years. It's a great way to save money while building a community of fellow mums. 'Everyone brings something to swap that their kids have grown out of and exchange it for something else. 'This is a great way to prevent overconsumption and waste, while ensuring your child's arsenal of entertainment and learning materials gets a refresh.' Try a 'no spend' week It's the viral trend that involves cutting out unnecessary costs to build up savings. Many people aim for a frugal month but Bola says even a week of no spending can boost your bank balance this summer. She says: 'Having a no spend week, or even no spend weekends, can improve your finances. 'This trend allows you to reflect on your spending habits and highlight unnecessary outgoings. 4 "You can assess what worked, adjust your habits and then make a long-term plan.' Bola recommends making use of all the free activities in your area to keep the kids entertained. 'Eventbrite allows you to filter free classes, festivals and clubs near you,' she says. 'Also make use of everything free near you including the library, park, lido and community groups. 'Many local religious organisations offer free holiday clubs for kids - and in a lot of cases, you don't even have to be part of the religion to attend. 'They are run by volunteers to provide fun, educational and sometimes faith-based activities during school breaks.' 'We found treasure and the at-home movie night was a family hit' Fabulous Digital Editor Lydia Major had a 'no spend' weekend with her two sons, aged 8 and 4. Instead of throwing money at activities to keep my sons entertained, this weekend we attempted to have fun for free. The cinema, bowling and swimming went out of the window in favour of an at-home movie night, a picnic in our local park and a geocaching trail. The pressure on mums to spend, spend, spend this summer is relentless but if you get creative and ignore the Instagram noise you can have a great time. The highlight for us was the geocaching - basically a hunt where you use a mobile app to find 'treasure'. There was one in a park local to us, it killed two hours and then we found a cache with books and toy soldiers in. Result. Despite a bit of bickering, we also loved the at-home Friday film night and it was a good way to round of a busy week. I reckon we saved £100 by following Bola's advice and it's definitely something we'd try again. A friend also recommended looking up free events on Eventbrite so we will try that later in the summer. Use the 50:30:20 rule Start structuring your spending with the 50:30:20 budget rule. Bola says: '50% for needs (rent/mortgage, utilities, food), 30% for wants (dining out, entertainment, socialising) and 20% for savings, investments or debt repayment.' This allows you to clearly see the things you need to spend on, while also allowing yourself space for treats. Bola adds: 'Whether you're stuffing physical envelopes or assigning virtual categories, having a clear plan for your monthly pay packet ensures you stay on track without feeling restricted.' 4 Bola recommends downloading Emma, a personal finance and budgeting platform, to manage your money, avoid overdrafts and save. She says: 'It does this by letting users see all of their bank accounts in one place and track their spending. 'The app, which has two million users, can be downloaded and used for free, though there are premium plans which can cost up to £14.99 a month. 'It's great if you want to see in real time what you're doing with your money. You can create categories - such as kids clothes, food shops and spending for the summer - and view your spending by week or month.' By following Bola's advice, you can end summer in a strong financial position. "From small swaps to smart boundaries, these changes could save you £100s by the end of summer and help you feel more in control come September," she says. Money saving challenges Here's some of our favourite money saving challenges to h Here's a rundown of some of the most popular schemes: Weather saving challenge - Save the amount equal to whatever the highest temperature was that week. £1 = 1C. 1p challenge - save 1p a day for everyday of the year, but it increase the amount by 1p each day. So day one you save 1p, 2p on day two and 3p on day three. When you reach 100 days you start adding a £1 coin each day too, while this increases to a £2 coin each day plus pennies at 200 days, and £3 each day on top of pennies at day 300. 20p a day challenge - Start by putting 20p in savings, then increase the amount by 20p every day. For example, the first week will look like this: 20p, 40p, 60p, 80p, £1, £1.20, £1.40. £5 a week challenge - Like the 20p challenge, put aside £5 a week and increase it by a fiver each week. Eg £5, £10, £15, £20 Round-up challenge - Every time you buy something, round up the purchase to the nearest £1 and put the difference in a savings account. Eg. You pay £2.60, so you put 40p in savings. You can use an app such as Monzo or Starling to do this. Bingo challenge - Here you have a bingo card with different numbers on it and you tick them off when you've put that amount in your savings account. It can be ad hoc but you have to tick them all off by the end of the month. Monday to Sunday challenge - With this challenge, you simply save £1 on Monday, £2 on Tuesday and so on until the weekend where you don't save on Saturday or Sunday. 365 day challenge - Every Sunday you put aside £1, followed by £2 on Monday, £3 on Wednesday and so on. On Saturday you'll put away £7, and then the process repeats and you'll put aside £1 on Sunday as the new week begins.
