NTFP Jeremy

About NTFP Jeremy

Jeremy works for Neighborhood Trust Financial Partners as a Development Associate.

Women Lag Behind Men on Financial Literacy

Americans score poor marks when it comes to financial literacy. And women lag behind men — which could have troubling consequences for their retirement and overall financial health.

These were the takeaways from two recent studies. The first, from researchers at the University of Georgia and Kansas State University, analyzed data from the FINRA 2012 National Financial Capability Study, a survey of more than 25,000 US adults. The researchers found that women across age groups answered fewer questions correctly than did men on core financial concepts such as interest rates, inflation, and risk. (You can test your own knowledge here.)

The study, presented at the annual meeting of the Academy of Financial Services last fall, also found women lagged behind men in financial capability, […]

Payday Loans Are Bleeding American Workers Dry

We’ve all seen the ads. “Need cash fast?” a speaker asks. “Have bad credit? You can get up to $1,000 within 24 hours.” The ad then directs you to a sketchy-sounding website, like 44cash.com, or a slightly-less-sketchy-sounding business, like PLS Loan Store. Most of us roll our eyes or go grab another beer when these commercials air. But 12 million people a year turn to payday lenders, who disguise the real cost of these loans. Borrowers often become saddled with unaffordable loans that have sky-high interest rates.

For years, states have tried to crack down on these deceptive business practices. Now, the Consumer Financial Protection Bureau (CFPB) is giving it a shot. On Monday, the New York Times reported that the CFPB will soon […]

Financial Wellness Programs Gain Traction

Man presenting to coworkers

Workplace wellness isn’t just about your physical fitness anymore. Many employers have broadened the concept beyond health care to include programs that help workers get their finances in shape.

“I think financial wellness is becoming more than a buzzword,” says Bob Harris, director of financial wellness at Waddell & Reed, a Kansas City, Kansas-based asset management and financial planning firm that customizes financial wellness programs for clients in a wide range of industries. “It’s something that most employers are considering as an important part of their overall wellness program.”

Financial wellness in the workplace

Customized programs
New York-based Neighborhood Trust Financial Partners calls its customizable financial wellness program “The Employer Solution.” The nonprofit organization’s clients include home health care businesses, fast-food franchises and a […]

The Mental and Physical Toll of Student Loans

As the use of student loans escalates, so too do conversations about the possible ramifications of increasingly high debt for young Americans. It’s widely known that inability to pay student debt can result in a host of problems, like damaged credit or garnished wages, but a new study from the University of South Carolina suggests that some ill effects, such as increased stress levels or feelings of depleted health, can surface just from accumulating student-loan debt.

It’s been well documented that financial strain can have measurable mental and physical effects. A 2013 study published in Anxiety, Coping and Stress, for instance, found that “those with greater financial strain perceived more stress, had more symptoms of depression, anxiety, and ill-health.” And significant or growing […]

Activists Launch ‘Debt Strike’ Against College Chain

Fifteen former Corinthian Colleges students announce refusal of loan repayment as part of new anti-debt campaign

Thumbnail image for Strike student debt!The debt forgiveness movement born out of Occupy Wall Street has entered a new stage in its activism around student loans. On Monday a wing of the campaign known as Debt Collective announced a “debt strike” by 15 former students of the for-profit college chain Corinthian Colleges Inc.

The former students have said they will not repay any more of their student loans, in protest of what they describe as predatory lending practices on the part of Corinthian Colleges and the U.S. Department of Education (DOE). Organizers working with Debt Collective said the coordinated action was a test run for larger […]

Americans are having more trouble paying off their student debt than their houses.

Americans are struggling to make timely payments on student loans, according to new data from researchers at the Federal Reserve Bank of New York — even as we dutifully shrink other types of balances.

Student-loan delinquencies increased at the end of 2014: 11.3 percent were at least 90 days overdue in the last three months of 2014, up from 11.1 percent in the previous quarter.

Meanwhile, on the bright, if counterintuitive, side: All other forms of debt have been showing lower delinquency rates, including credit card and mortgage loans. The New York Fed did note, however, that auto loan delinquencies have largely been dropping, but rose slightly last quarter.

(The Federal Reserve Bank of New York)America’s total student […]