Last year, online payday loan businesses teamed together to educate the public about managing personal finances. They formed the Community Financial Education Foundation (CFEF), a non-profit that is in the position of knowing what kinds of day-to-day money issues people struggle with and are concerned about. Their free, easy-to-use online portal is currently operational.

Household budgets, future expenses, savings goals and improving your credit rating are all areas covered by the new Web site. Intuit Inc., the company that makes the popular Quicken financial software, has even donated copies of its software to consumers who complete their free registration with the site.

Coming soon to your community

What I find most exciting about this new CFEF Web site is that their education programs don’t merely include static online information about no fax payday loans and other consumer credit aids (which are useful), but community outreach programs. Specifically, users will have the ability to request that CFEF money management seminars be given in their town. This should integrate well with the organization’s commitment to having financial literacy become an integral part of school curriculum. Grants and scholarships will eventually be available for students who show a commitment to financial health.

Under the leadership of Executive Director Miranda Harwell, the CFEF should make great headway against the tide of financial missteps that countless consumers make with their money. According to the Web site, “Harwell is a Certified Educator in Personal Finance and a devoted advocate of financial literacy. Recently, Harwell has become involved with the Financial Literacy and Education Commission sponsored by the U.S. Department of the Treasury.” With that background, your payday loan source is hopeful that the Web site will be a success.

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