April is national financial literacy month and April Fools' Day is April 1st. On this occasion consumers should resolve to avoid being fooled and misled by banks, credit card companies and the financial industry. FoolProofMe.com offers useful information to help you improve your financial skills and to become smarter consumers.
Being "financially literate" means more than knowing the difference between a stock and a bond -- it means understanding that businesses go for their bottom line before they watch out for your pocketbook.
Unfortunately, many consumers -- especially young consumers -- believe the seller rather than question the seller.
One of the shadowy reasons young people aren't savvy enough about financial matters is that major financial literacy materials offered to teach young people about money are underwritten or produced by the very companies that profit when you make a money mistake.
FoolProofMe.com is different. It offers a steady stream of resources on topics such as car buying, home buying, student loans, and credit cards. None of this clear advice is paid for by the financial industry. FoolProofMe.com offers dozens of informative videos and guest articles by national consumer leaders.
In the past year alone millions of consumers have visited the FoolProofMe.com webpage. You can too. The materials on this webpage are advertising-free and agenda-free.
FoolProofMe's "Hall of Shame" feature is an example of the tough stance FoolProof takes -- it names companies that have not been good for consumers.
Will deHoo, FoolProof's founder, says: "We hope 'Hall of Shame' reminds consumers that even good companies can make very bad decisions. You must always use caution, question sellers, and do research, if you're going to be a wise spender."
Here are a few notable Hall of Shame examples.
- Ex-Deutsche Bank Analyst Banned Over Rating at Odds With Opinion. "A former Deutsche Bank AG analyst once ranked among the best in the U.S. will pay a100,000 penalty and be banned from the securities industry for a year to settle a regulator's claims that he issued a buy recommendation at odds with his personal opinion. When research analysts tell clients to buy or sell a particular security, the rules require them to actually mean what they say,' Andrew J. Ceresney, head of the SEC's enforcement division, said in the statement. 'Analysts simply cannot express one view publicly and the opposite view privately.'"
FoolProofMe.com is worth a visit if your money is worth a little of your time.