Related Consumer Finance Programs - The following sub-directories of companies offer a wide variety of financial programs to assist you with the management of your finances. Consolidate debt with a consolidation loan or use a debt counseling service or mortgage refinance for help with the consolidation of your charge card debt and other monthly payments.

• Debt Consolidation Company - If you have a large amount of  credit card and other debts, now may be a good time to consolidate your debt and lower your payments.
• Personal Loan Financing - Need a personal loan for debt consolidation? These types of loans often do not require collateral and are available to homeowners, as well as renters.
• Debt Management Credit Counseling - Do you feel that your credit card bills are stacking up with nowhere for you to turn? Your problem is not unique. Signing up with debt management firm may be the right solution to your debt problems. Review different firms offering these services to determine if this is the correct option for you.

For Teens:

How to Ace Your First Test Managing Real Money in the Real World

Think before you buy. Many teens make quick and costly decisions to buy the latest clothes or electronics without considering whether they are getting a good value.

"A $200 pair of shoes hawked by a celebrity gets you to the same destination at the same speed as a $50 pair," said Reynolds. "Before you buy something, especially a big purchase, ask yourself if you really need or just want the item, if you've done enough research and comparison-shopping, and if you can truly afford the purchase without having to cut back on spending for something else."

Be careful with cards. Under most state laws, you must be at least 18 years old to obtain your own credit card and be held responsible for repaying the debt. If you're under 18, though, you may be able to qualify for a credit card as long as a parent or other adult agrees to repay your debts if you fail to do so.

An alternative to a credit card is a debit card, which automatically deducts purchases from your savings or checking account. Credit cards and debit cards offer convenience, but they also come with costs and risks that must be taken seriously.

FDIC Consumer News is published by the Federal Deposit Insurance Corporation

FDIC Consumer News is produced quarterly by the FDIC Office of Public Affairs in cooperation with other Divisions and Offices. It is intended to present information in a nontechnical way and is not intended to be a legal interpretation of FDIC or other government regulations and policies. Mention of a product, service or company does not constitute an endorsement.

Find current and past issues of FDIC Consumer News at http://www.fdic.gov/consumernews. Refer to this same index to locate the issues that are specially formatted for being reprinted in any quantity.

To receive an e-mail notice about each new issue of FDIC Consumer News posted on the FDIC Web site, with links to stories, follow instructions posted at www.fdic.gov/about/subscriptions/index.html.

Last updated on 05/13/2008

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