Core Financial Literacy Concepts for Adults in 2026

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

GreenPath does ask you for permission to share information with RBFCU. If you state "no," your name is kept private. If you start a financial obligation management program, GreenPath will obtain your authorization before it proposes payment plans to your creditors.

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Personal debt is a typical and complex problem for many older adults who are nearing retirement age. Low incomecombined with elements like inflation and increasing healthcare costsleaves some seniors without any choice but to turn to charge card to complete the monetary spaces. Aid is offered. Working with a skilled financial therapist can permit you to get a clear image of your obligationsand develop a practical strategy to get out of financial obligation.

Top Credit Building Strategies for Year 2026

More older adults are bring debt into retirement today than ever previously. Almost 65% of Americans age 65 to 74 had financial obligation in 2022, compared to about half of elders age 75 and older. For contrast: In 1989, less than half of the population age 65 to 74and only 21% of older grownups age 75+had debt.

These services are generally used by a not-for-profit company and are totally free of charge. Your monetary counselor, who is usually a licensed monetary organizer, will take a look at your properties and liabilities and consider your income, savings, credit, and financial obligation. Then, they will create a budget plan and action plan along with a financial obligation management strategy, if it's pertinent to your needsall created to help you achieve your objectives within a certain timeframe.

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A financial obligation management plan is a 3- to five-year payment program that permits you to condense numerous of your charge card balances into a single month-to-month payment. The objective of this strategy is to assist you meet your monetary responsibilities by totally paying off your exceptional credit card debt. Debt management plans frequently make it possible for significantly lower interest and lender costs.

Success rates vary by counseling company; you can search for reviews online. Your credit rating will generally improve as your debts are paid on time monthly. When you're searching for a monetary counselor, it is essential to be selective. There are unscrupulous players out there aiming to scam people out of their hard-earned moneyand older adults are a typical target.

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