Interactive quiz allows consumers to evaluate money management skills
AARP today unveiled an interactive feature on its web site designed to allow consumers to evaluate their money management skills.
The consumer self-assessment contains 31 questions about such money management practices as planning, budgeting, credit, savings and investing. It can be found at www.aarp.org/money.
Examples of money management practices range from "I pay my bills on time" and "I have a will" to "I shop for the best interest rates for my savings vehicles" and "I put my money in different types of investments to boost returns and reduce risk."
Consumers eager to improve their money management skills can use the web site as a short course on personal finance.
Each practice is associated with a tip on money management. For example, the tip linked with "I pay my bills on time" reminds that "paying bills in a timely manner will help you avoid late fees (and), negative marks on your credit report." It also discusses bill paying via the Internet, encourages people to obtain free credit reports each year and reviews credit-counseling options for persons having difficulty paying their bills on time.
Many of the tips contain links to third-party web sites offering authoritative and detailed information on personal finance.
The quiz was prompted by findings in AARP's Beyond 50 report – an annual look at the status of, and trends affecting, older Americans. The 2004 edition of the report, "A Report to the Nation on Consumer in the Marketplace," finds that consumer confusion abounds as today's consumers face a more complex marketplace and more time constraints than any previous generation.
AARP is a nonprofit, nonpartisan membership organization dedicated to making life better for people 50 and over. We provide information and resources; engage in legislative, regulatory and legal advocacy; assist members in serving their communities; and offer a wide range of unique benefits, special products, and services for our members. These include AARP The Magazine, published bimonthly; AARP Bulletin, our monthly newspaper; AARP Segunda Juventud, our quarterly publication for Hispanic members; NRTA Live and Learn for National Retired Teachers Association members; and our Web site, www.aarp.org. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.