Budgeting for Your Future

FTC releases financial tips for 2019 graduates; a great time to apply for ACA International’s Loomer-Mortenson Scholarship Program to help advance your education.

4/12/2019 8:00 AM

Budgeting for Your Future

Millions of high school students—3.6 million to be exact—are expected to graduate from high school in 2018/19, according to the National Center for Education Statistics and it’s never too early to start your financial planning.

As part of Financial Literacy Month, the Federal Trade Commission recently issued a reminder about free consumer materials on budgeting, getting credit, avoiding costly scams and more for recent high school graduates and college students.

Loomer-Mortenson Scholarship Program

It’s also a great time to apply for college scholarships. This year, ACA International’s Education Foundation has $50,000 available through the Loomer-Mortenson Scholarship Program.

Applications are due May 15, 2019.

Scholarship applicants must be a current employee—or child of an employee—at a company affiliated with the credit and collection industry.

Other Opportunities

Each year, an estimated $46 billion in grants and scholarship money is awarded by the U.S. Department of Education and the nation’s colleges and universities, ACA International Vice President of Communications Kim Coghill reports in Collector magazine. But that doesn’t include the millions of dollars awarded through private businesses and industries, including foundations like the ACA International Education Foundation, which funds the Loomer-Mortenson Scholarship program.

Read more scholarship tips in Coghill’s article “Paying for College.”

Scholarships and financial planning for your future are great resources to stay positive about your budget, and in your bank account; but professionals in the accounts receivable management industry are also there to help develop a manageable payment plan should you fall behind on a bill.

The FTC’s materials for Financial Literacy Month at consumer.gov also include basic, easy-to-read tips on budgeting, getting credit, renting a place to live, dealing with identity theft, and buying a car.

Remember, a little planning ahead can go a long way to a strong financial future.

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