April is National Financial Literacy Month Free Kids and Money PowerPoint show available

All Aged Consumers Urged To Take the National Financial Education Questionnaire (Below)

San Diego, CA. April is National Financial Literacy Month. The nonprofit Institute of Consumer Financial Education (ICFE) joins with other leaders, in the consumer financial education, which also includes the national Jump$tart Coalition for Personal Financial Literacy, its statewide coalitions and partners to recognize and promote National Financial Literacy Month.

This year the ICFE is making a free Power Point show available to parents, teachers and counselors (about how to help children learn the value of money) in addition to the National Financial Education Questionnaire, for all consumers, aged 16 and up.

The ICFE is an award winning, educational group, founded in 1982 and based in San Diego, CA. It's dedicated to helping people improve their spending, increase their savings and use credit more wisely. The nationwide, month-long, effort, will recognize and draw attention to the need for consumers of all ages to master basic skills spending, saving and the wise use of credit.

The ICFE is offering financial education tips to parents and teachers alike as part of its recognition of National Financial Literacy Month on its web site at www.icfe.info. Also, a free PowerPoint show (PPs) is available for parents, teachers and counselors. It is titled: 18 Ways To Help Children Learn the Value of Money. The PPs also includes, for use in the classroom, (1) Young Spender's Profile , an interactive tool to help students identify dangerous spending habits. (2) The Credit Risk Profile , also interactive, gives student a view of themselves as a potential lender/creditor might view them. The free download may be requested at www.icfe.info/contact/flm.

The ICFE utilizes a National Financial Education Questionnaire for consumers, both young and old, to use as a measurement of their individual financial abilities and awareness. The questionnaire is given in conjunction with a nationwide credit education program, written by Paul Strassels, available from the ICFE is known as: Credit When Credit Is Due.

The National Financial Education Questionnaire, (below) consists of 15 questions about such things as bill paying practices, how much you know about your credit report, about your monthly budgeting practices and your financial goals. As part of the National Financial Literacy Month, the ICFE is also making the national test available with a link on (www.icfe.info).

The National Financial Education Questionnaire is also available in printed format for parents, grandparents, teachers and consumer educators and interested others who may be without Internet access.

To receive a copy by return mail, please send $1 and a self-addressed, double stamped envelope (with 60 cents postage) to: ICFE "National Financial Education Questionnaire", PO Box 34070 San Diego, CA 92163-4070.

National Financial Education Questionnaire

(From the Credit When Credit Is Due Education Course - written by Paul Strassels)

Answer the following questions to the best of your ability. Your circled responses may then be compared with the answers given below.

The scoring on the true-false questions (1-10) will help you determine if you (along with millions of other Americans) need to get more financial education.

Please circle your selection of true, false, or not sure for numbers 1-10 of the following statements:

1. Late payments on bills are a minor problem or no problem at all when seeking a home loan. (T) (F) (Not Sure)

2. You should keep enough in your savings account to cover 3 months of expenses. (T) (F) (Not Sure)

3. No more than 25% of your income should be used on installment debt. (T) (F) (Not Sure)

4. If you don t have enough money to pay your bills, you should call your lenders right away and tell them. (T) (F) (Not Sure)

5. Bankruptcy will only stay on your credit record for 7 years. (T) (F) (Not Sure)

6. The lowest interest rate on a loan always means the best loan. (T) (F) (Not Sure)

7. Two people can purchase the same item and still pay vastly different amounts. (T) (F) (Not Sure)

8. When you use a credit card you are borrowing money from a bank. (T) (F) (Not Sure)

9. If I can t afford my car payments, I can voluntarily surrender my car to get out of the loan. (T) (F) (Not Sure)

10. Your credit history has no effect on your ability to get a job or rent an apartment. (T) (F) (Not Sure)

Please indicate with an x on items 11-15, which statement best describes your own financial situation.

11. Which of the following statements best describes your right to check your credit report for accuracy? If you are turned down for credit based on a credit report, the records can be checked for free. Your credit report can be checked at any time for free. You can not see your credit report. All credit records are the property of the U.S. Government and your lenders and the FBI are the only ones who can look at them.

12. Which of the following best describes your bill paying practices right now: I pay my bills on time. I occasionally pay my bills on time. I hardly ever pay may bills on time. I do not pay the bills in my household.

13. Which of the following best describes what you know about your credit report: I have never seen a copy of my credit report. I have seen my credit report but I did not understand it. I have seen my credit report and my credit record was poor. I have seen my credit report and my credit record was good.

14. Which of the following best describes your financial goals: I do not have any real financial goals. I have some financial goals but I do not know how to make them come true. I have some financial goals and I have created a plan to make them come true. I have some financial goals and they are coming true.

15. Which of the following best describes your monthly spending plan or budget. I do not have enough money to have a budget. I would like to have a monthly budget, but do not know how to make one. I have a budget for the monthly bills but not for everyday expenses. I have a monthly budget and I use it to plan for all of my monthly expenses.

Scoring: TRUE/FALSE 1-10 F,T,T,T,F,F,T,T,F,F