Becoming fiscally stable requires income and a skillset to manage your financial resources. 70% of Americans live paycheck to paycheck, and 64% of Americans cannot cover an emergency of a thousand dollars without borrowing money. The average person owes nearly a quarter of each paycheck to consumer debts: student loans, credit cards, and car loans. As living expenses rise and debt grows, the need for affordable support for debt reduction and money management is crucial.
The Financial Empowerment Center (FIC) offers free, one-on-one financial counseling to those living and/or working in Davidson County/Tennessee. There are counselors available who speak English and Spanish, as well. The counselors at the FIC help with the following:
- Developing a plan for managing bills
- Dealing with debt collectors
- Improving credit
- Creating a budget
- Opening a bank account
- Saving and planning for the future
There are locations available throughout Nashville. Appointments can be scheduled by calling 615-748-3620 or requested online. Visit their webpage for online scheduling and for more information.
Apprisen is another resource that can assist with regaining financial health and stability. There is no charge for the initial counseling session with a Financial Services Specialist to assess your financial situation. If you decide to participate in a Debt Management Program (DMP), there are nominal fees to cover the cost of maintaining your program. These fees are subject to state regulations but will never exceed a $45 one-time set up and a $45 monthly fee. Apprisen does not deny service if you are unable to pay. In cases of financial hardship, fees may be reduced or eliminated. Learn more at their website.
While Work/Life Connections - EAP does not offer financial counseling, there are a few articles in the resource library and wellcasts that may be helpful in establishing financial resilence. They are the following:
Read "Simple Ways to Save Money on Utility Bills"
Read "Staying Ahead of Your Creditors"
