Personal Finance

Authors: Troy Anthony Anderson - Naimani Staley - Isaias Tesfalidet

This paper explores the growth of financial technology, highlighting the importance of digital literacy and financial education in reshaping personal finance through apps and online platforms. The surge in mobile banking has forced financial institutions to improve their mobile applications; they are now investing in apps that offer greater convenience and engaging features to retain customers. However, while these advancements offer many benefits, they also introduce unknown risks, such as cybersecurity threats and scams. Therefore, it is essential for consumers to be educated on safety measures to protect themselves. The goal of financial technology is to create a more just economic system by broadening access to financial resources, strengthening financial inclusion for underserved populations and fostering economic empowerment through user-friendly mobile banking apps, accessible micro-loans, and transparent investment platforms. Authors: Troy Anthony Anderson, Ed.D., Naimani Staley, and Isaias Y. Tesfalidet; Title: The Relevance of Financial Technology: Bridging the Gap Between Consumers and Services (FS-2024-0724).

Authors: Jesse Ketterman - Patricia Maynard

If you ever plan to take out a loan or you currently owe money to another party, you need to understand credit and credit reports. Credit is the ability of a borrower to receive something (often money) in exchange to return the money to the lender at a later point in time. For example, when you buy a car, a bank (lender) provides the money to you (borrower). In exchange, the lender charges you interest. The interest charged is determined by several factors based upon your credit report. Therefore, it is important for you to monitor your credit report. Let’s take a minute to provide greater insight on credit and credit reports. Author: Jesse Ketterman, and Patricia Maynard; Title: Understanding Credit and Credit Reports (FS-1115).

Authors: Dorothy Nuckols

The federal government offers the option of Public Service Loan Forgiveness to ease the burden of student loan payments. This is a program designed to provide an incentive to attract job seekers to employment in the much needed non-profit and government sectors. Those who qualify for PSLF can have their student debt balance paid in full by the federal government. However, there are many rules to follow. Author: Dorothy Nuckols; Title: Public Service Loan Forgiveness: Know the Qualification Rules (EBR-50)