NFCC PRESS RELEASE
For Immediate Release
February 6, 2012
(202) 677-4355 - direct
(240) 672-2700 – cell
NFCC Promotes Responsible Spending
Washington, DC – Cupid will likely try to convince shoppers to put their good financial judgment aside this Valentine’s Day, and instead don heart-shaped financial blinders when shopping for that special gift.
The National Retail Federation estimates that consumers will spend $17.6 billion during this one holiday, or $126 per person, up 8.5 percent from 2011. “This spending will certainly be a nice boost to the economy,” said Gail Cunningham, spokesperson for the National Foundation for Credit Counseling (NFCC). “However, consumers who are already in financial distress, or on the cusp, should not feel compelled to spend, putting their own economic well-being at further risk.”
The National Foundation for Credit Counseling (NFCC) suggests that consumers consider the following list of what love is not as they shop for their Valentine:
"Spending irresponsibly is no way to say 'I love you'. However, showing that you are financially reliable is a tangible expression of that sentiment. It's a gift that's meaningful, always in style, won't wilt or add pounds," continued Cunningham.
If you need help finding extra money in your budget, consider reaching out to an NFCC Member Agency. To locate the agency closest to you, dial (800) 388-2227, or go online to www.DebtAdvice.org. For assistance in Spanish, call (800) 682-9832.
The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation’s largest and longest serving national nonprofit credit counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services. NFCC Members annually help more than three million consumers through close to 800 community-based offices nationwide. For free and affordable confidential advice through a reputable NFCC Member, call (800) 388-2227, (en Español (800) 682-9832) or visit www.nfcc.org. Visit us on Facebook: www.facebook.com/NFCCDebtAdvice, on Twitter: twitter.com/NFCCDebtAdvice, on YouTube: www.YouTube.com/NFCC09 and our blog: http://financialeducation.nfcc.org/.