April 14, 2008

Contact: Erin Angell
202-220-6317
eangell@nw.org

Contact: Doug Robinson
202-220-2360
drobinson@nw.org

 

NeighborWorks Urges Consumers to Test Their Financial
Fitness During Financial Fitness Month

Washington, DC – With the foreclosure crisis, personal debt and talk of a recession making headlines this spring, NeighborWorks® America is urging consumers to test their financial fitness and enroll in financial education courses during Financial Fitness Month (April).  With more than 100 NeighborWorks HomeOwnership Centers now serving communities across the nation, consumers have greater access to financial education from local housing nonprofits than ever before.

NeighborWorks HomeOwnership Centers provide consumers with one-stop-shop access to homeownership education, financial fitness courses, and foreclosure counseling, among other services.  Between January 2001 and December 2007, more than 32,000 families have enrolled in financial fitness classes at local NeighborWorks organizations.

Without access to quality information and guidance, many families can miss opportunities to maximize wealth building opportunities, or worse, fall into traps that eventually lead to financial ruin.

Personal finance courses teach consumers better money management skills that can help put them on the path to decreasing debt and increasing resources – including long-term homeownership, while creating more financially fit area consumers year-round. Financial literacy can also help consumers become more aware of common pitfalls – including consumer scams and predatory lending practices – and how to avoid them.

Financial education is a critical need for consumers and for our nation’s communities. Being financially fit is the key to building wealth, regardless of income.  For families, financial education can continue to promote stronger and more stable neighborhoods.

To test your financial fitness, take the Financial Fitness for Life Quiz, available at www.nw.org/network/newsroom/documents/financialFitnessQuiz_000.pdf.

For find a NeighborWorks’ HomeOwnership Centers near you, visit http://nw.org/network/nwdata/homeownershipcenter.asp.

About NeighborWorks America

NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. Since 1991, we have assisted nearly 1.2 million low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network ― more than 230 community development organizations working in more than 4,400 urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. In the last five years, NeighborWorks organizations have generated more than $15 billion in reinvestment in these communities. NeighborWork America is the nation’s leading trainer of community development and affordable housing professionals. www.nw.org.