Building Stronger Financial Literacy Skills for Life

RBFCU has partnered with GreenPath Financial Wellness to provide financial counseling, education, and financial obligation management services. GreenPath Financial Wellness is exclusively accountable for the delivery and quality of those items and services. * There is an expense for a financial obligation management plan and boosted trainee loan debt counseling. A GreenPath therapist will discuss those costs to you if you choose to utilize those services beyond your initial credit therapy session.

GreenPath does ask you for approval to share information with RBFCU. If you state "no," your name is kept private. If you start a debt management program, GreenPath will get your permission before it proposes payment arrangements to your creditors.

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Core Financial Literacy Concepts for Adults in 2026

More older grownups are carrying debt into retirement today than ever in the past. Nearly 65% of Americans age 65 to 74 had financial obligation in 2022, compared to about half of senior citizens age 75 and older. For contrast: In 1989, less than half of the population age 65 to 74and just 21% of older grownups age 75+had financial obligation.

These services are typically offered by a nonprofit organization and are free of charge. Your financial counselor, who is typically a certified monetary organizer, will look at your properties and liabilities and consider your earnings, savings, credit, and financial obligation. They will develop a budget plan and action strategy as well as a debt management plan, if it's relevant to your needsall created to assist you achieve your goals within a specific timeframe.

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A debt management strategy is a three- to five-year payment program that permits you to condense several of your charge card balances into a single month-to-month payment. The objective of this plan is to assist you fulfill your financial responsibilities by entirely paying off your outstanding charge card debt. Financial obligation management plans typically make it possible for significantly lower interest and creditor fees.

Your credit scores will normally improve as your debts are paid on time each month. When you're browsing for a financial counselor, it's crucial to be selective.

If there are any expenses involved, request for this info in advance. You can look for certified credit and monetary therapists online using the National Structure for Credit Therapy (NFCC) and Financial Counseling Association of America (FCAA) sites. Recommendations from friends and family can be another excellent way to discover a counselor you can rely on.