We’ve been fortunate enough to avoid debt for much of our lives, something that many Americans aren’t able to do if you believe the statistics. So while we’ve never had a need to consult the National Foundation for Credit Counseling , I have heard good things about it and the work they’re doing to help educate people about many of the basics of personal finance and personal responsibility. Founded in 1951, they’ve been working to educate Americans on responsible behavior and I, for one, support what they’re trying to do.
So when one of their representatives emailed me about their MyMoneyCheckUp tool , now available in Spanish (that was the news, the tool itself was launched in 2011 and I missed it then), I took a look. The tool is very simple but what it provides can be very powerful if you feel like you’re a little lost in what you should be doing personal finance wise.
After you register, the tool walks you through a series of questions that shouldn’t take you more than 10-15 minutes to complete. You can see your progress at the top of the screen and while there are about a dozen tabs, each one only has a handful of questions.
The purpose of the tool is to ask the right questions and help you think about your finances. For example, under Budgeting, the tool simply asks if you have a household budget. If you answer “yes,” then it asks you how often you were able to stick to the budget. It’s as simple as that.
In the results, there’s a simple stoplight chart that tells you how you’re doing. For example, here’s what it told me about budgeting. I answered “no,” we don’t have a budget anymore:
Those two links go to pages on the NFCC website that teach you about money management and insurance, useful topics.
I like simple straightforward tools and this is one of them. It covers the basics and helps you find out more if you’re a little lacking in some areas. The fact that it’s also available in other languages, like Spanish, is a smart move because personal finance is language agnostic. The more responsibility we have, the better off we’ll all be.
If you haven’t taken a look, check it out.