Programs that provide services which relate to the limited lines of credit made available to consumers when they obtain a credit card or a loan from their bank or another financial institution. Credit cards allow consumers to purchase goods and services under an agreement where they repay all or a portion of the outstanding balance on a regular basis at an established interest rate.
Programs that provide educational workshops, printed materials, Internet website information or other types of resources for individuals, families, business owners and others that deal with the essentials of money management, asset building and financial independence. A wide variety of money management issues may be addressed including banking services, consumer credit lending, debt consolidation/repayment, bankruptcy, small business development, retirement planning, investment management, savings, risk management, tax and estate law and other similar topics.
Programs that help people who are having difficulty paying their monthly bills gain control of their finances. The process generally involves analysis of the individual's income, expenses, debts, taxes and other factors to create a personal financial assessment; development of a budget for basic living expenses; and agreement on a short-term plan for repayment of creditors which may include debt consolidation or other strategies and a longer term plan for realizing personal financial goals.
The above terms and definitions are part of the Taxonomy of Human Services, used here by permission of INFO LINE of Los Angeles.