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Get smart with your money

financial literacy

Thursday’s need-to-know money news

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Today’s top story: Furloughed workers face potential damage to their credit scores. Also in the news: A bill could expand the financial literacy of students, 8 budget types for businesses, and 6 practical ways to pay off credit card debt.

A big problem looms for furloughed workers — preventing damage to their credit scores
Another impact of the government shutdown.

Bill Introduced to Expand Financial Literacy of Students
Teaching more than just the basics.

8 Budget Types for Businesses
Different budgets for different needs.

6 practical ways to pay off credit card debt
Climbing your way out of debt.

How schools can teach kids to be smart consumers

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Most financial literacy efforts in schools don’t improve people’s behavior later in life. That could be because we’re focusing on the wrong things.

Trying to teach teenagers how to shop for a mortgage, for example, may be an exercise in futility. The information simply isn’t relevant to them — yet. By the time they are ready to buy a home, the loans available and the rules surrounding them may have changed.

Instead, we should be teaching kids the habits that make savvy consumers. In my latest for the Associated Press, four skills that make a difference regardless of someone’s circumstances or the economic climate.

Wednesday’s need-to-know money news

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Today’s top story: Don’t get taken by government grant scams. Also in the news: When you should and shouldn’t tap your Roth IRA, using your credit cards to pay for child care, and a report that finds many American teens lack basic financial skills.

Don’t Get Taken by Government Grant Scams
The government doesn’t want to give you money.

When You Should — and Shouldn’t — Tap Your Roth IRA
Let your interest rate be your guide.

Should You Use Credit Cards to Pay for Child Care?
Depends on the card.

Report finds many American teens lack basic financial skills
Not a good sign.

Tuesday’s need-to-know money news

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Today’s top story: Finding your tax refund. Also in the news: How long you should keep your tax records, when to pay for ‘free’ shipping, and 7 steps towards financial literacy for your kids.

Where’s My Tax Refund?
Tracking down your refund.

How Long Should You Keep Your Tax Records?
What to keep and what to toss.

When to Pay for ‘Free’ Shipping
When “free” is worth the cost.

7 Steps Toward Financial Literacy For Your Children
It’s never too early for them to learn.

Are you financially healthy?

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Traditional financial literacy efforts haven’t been a rousing success. Research from Harvard Business School shows that even Americans who are taught personal finance in school don’t seem to save more or manage credit better than anyone else.

That’s why many experts concerned about Americans’ money habits — including regulators such as the Consumer Financial Protection Bureau and financial think tanks such as the Center for Financial Services Innovation — are promoting the concept of financial health.

In my latest for the Associated Press, what you can do to improve your financial health.

Monday’s need-to-know money news

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Today’s top story: NerdWallet’s best credit card tips for April 2017. Also in the news: How one man dug out from $30K in debt, seniors are facing rising credit card debt, and should colleges require a financial literacy class?

NerdWallet’s Best Credit Card Tips for April 2017
The best cards for spring.

How One Man Dug Out From $30,000 in Debt
You can do it, too.

For Seniors, Rising Credit Card Debt Squeezes Tight
Medical debt is pushing seniors to the limit.

Should colleges require a financial literacy class?
Two experts weigh in.