How financially literate are you? If you don’t know as much as you’d like to about finances, you’re not alone. In a survey of 8,000 American adults, the average grade on a financial literacy test was a 63 percent – a D minus – according to the National Financial Educators Council.
Don’t worry – it won’t go on your report card. But what you don’t know about your finances is probably costing you money. From credit scores to credit card debt, saving to spending, bankruptcy to back taxes, financial knowledge can save you a lot of dough. But how can you gain financial knowledge and get accurate financial advice from a trusted source?
Because finances are so important to your future, Texas Legal partners with Cornerstone Financial Education, a nonprofit dedicated to educating consumers and helping them create a brighter financial future. If you’re a member of Texas Legal’s Preferred or Secure plans, you can take advantage of several financial counseling options for free or reduced rates. Here’s what Cornerstone has to offer you:
1. Financial Counseling Sessions
Sit down with an expert and get their help with your finances. Whether is creating (and sticking to) a budget, understanding credit or managing debt, Cornerstone offers free financial counseling sessions to Texas Legal members. You can ask questions, go over your finances, get advice and help – all for free.
2. Low-cost Debt Management
If you’re struggling with credit card debt, you might consider a debt management program. Cornerstone’s Debt management program helps people get out of debt faster by negotiating to lower your interest rates so you can pay down your debt and move forward. The regular cost for this service is $50 a month, but Texas Legal members can take advantage of a 50 percent off rate of $25 a month.
3. Bankruptcy Counseling
If you’ve wondered if bankruptcy could be a good option for you, or need to get in a mandated bankruptcy counseling session before you file, Cornerstone offers a discounted rate to Texas Legal members of $20 for a session. Bankruptcy is a huge financial step that can either provide a welcome relief from debt or create further trouble. Make sure you know what you’re getting into and if bankruptcy is right for you before you file.
There are a lot of financial counseling services out there, but Texas Legal chose to partner with Cornerstone for several reasons. First, they’re a nonprofit, just like us, dedicated to serving the community, not making a buck. Second, they’re a local business, located right here in Austin. Talking to someone about your finances gets a little bit easier when you know you’re speaking to someone who is invested in your community, not a fly-by-night person from a huge national corporation.
So if you’re not as financial literate as you’d like to be, take the next step for your financial future and call Cornerstone today. To take advantage of the free and discounted services offered to Texas Legal members, take a look at your member packet for your Texas Legal redemption code, or contact us at 1-800-252-9346 or members@texaslegal.org.
Not a member yet? Join today and take advantage of all our services, including an attorney to help you with your finances or any other legal issue whenever you need it.