This quarter, the National Financial Educators Council has provided resources as well as informative materials for you to distribute to your employees and customers.
As part of the accounts receivable management (ARM) industry, ACA members are directly involved in consumers’ financial decisions. In addition to discussing paying off their debts, Financial Literacy Month in April is a crucial time for people to learn more about how to assist consumer knowledge on subjects like identity theft, fraud, and inaccurate credit reports.
On March 9, 2004, Senate Resolution 316 (SR316) was passed, designating April 2004 as “Financial Literacy Month”. The bill was introduced by Senator Daniel Akaka, who aimed to raise awareness of the value of financial education in the United States and the severe effects of a lack of economic knowledge.
The act states “that the President issue a statement calling on the federal government, States, regions, institutions, nonprofit organizations, companies, other institutions, and the people of the United States to observe the quarter with suitable programs and activities”.
The National Financial Educators Council (NFEC) is offering complimentary personal finance resources and ideas for Financial Literacy Month to help other organizations meet the requirements of SR316.
Throughout April, the NFEC has several actions planned, including:
- National Teach Children to Save Day: Highlights the importance of instilling financial education from a younger age and provides a platform for sharing requirements and advice for teaching children about money.
- Acknowledging individuals who have a significant impact on improving financial knowledge and acknowledging their efforts to improve people’s lives through financial education initiatives and programs.
- Take Your Child to Work Day: This event takes place on April 4 and 4 and is a chance to highlight the advantages of giving kids a variety of job options.
On the NFEC website, around, you can find more tools.
Add Know My Debt to Your Website
One of ACA International’s most common consumer learning resources, the Know My Debts website, features articles on topics such as personality theft, call consistency, and credit reports. On the home page of your organization, include the link to Know My Debt and give it to debt collectors to share with customers.
In the end, adding a link to Know My Debt on your website and encouraging your collectionists to refer customers to it during phone calls ultimately increases your confidence in the debt collection process.