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Success Online Financial Education Newsletter


Money Management International Improving Lives Through Financial Education
SUCCESS NewsletterJanuary 24 newsletter
New rules to prevent foreclosures announced 

New rules to avoid foreclosure

By Jesse Campbell, Copywriter

The Consumer Financial Protection Bureau (CFPB) recently announced new rules aimed at mortgage servicers with the goal of protecting homeowners potentially facing foreclosure.

The rules primarily serve to promote two ends: keeping consumers out of homes they can’t afford and making it harder for financial institutions to foreclose on those homes once the consumer starts to fall behind.

The CFPB is a federal agency created in 2011 and tasked with regulating consumer protection as it regards to financial products and services. The agency's jurisdiction includes banks, credit unions, securities firms, debt collectors and mortgage-servicers, among other financial institutions.

The new rules, which go into effect Jan. 10, 2014, include the following:

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An Open Break-up Letter

Dear Debt,

How did we get here?

It seems like just yesterday we were so carefree – going out to eat, shopping at my favorite boutiques, relaxing on weekend getaways – living it up!

And while I was warned you could be bad for me, I ignored the naysayers – after all, we were having so much fun! Plus, there was enough give-and-take to sustain our whirlwind romance.

But things have changed. You have changed.

You began taking more than you gave, and that was really hard for me. And eventually I found myself questioning if the fun we had was really worth the stress and pain you were putting me through.

Don’t get me wrong, I know that relationships aren't one-sided. And there’s definitely more I could have done to keep us on the right track. But when I did try to salvage what we had left, you were unforgiving. You refused to budge no matter how hard I tried. In fact, it seems like the harder I tried, the more steadfast you became.

Well, I’m tired of it.

I’m tired of focusing on you. It’s time to focus on me.

I want my efforts to be valued — and I want to see progress. I don’t want to work hard at something, only to find myself stuck in the same miserable, unhappy place. After all, I have a lot to give! I am a kind, generous, hard-working person. But all you make me feel is worthless, pathetic and stressed. And I don’t deserve that.

I want my life back.

I’m tired of sitting here hoping things will change. I’ve realized that change doesn’t happen unless I make it happen.

So I’m making a decision that I know will change my life for the better.

I’m breaking up with you.

For good.

Love,  Sincerely,


P.S. And we are never, ever, ever, ever getting back together! 


Share your own break-up letter to debt by commenting on this post.

Break up with debt

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About Money Management International

Money Management International (MMI) is a nonprofit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling, and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan, and repay debts. Counseling is available by appointment in branch offices and 24 hours a day, 7 days a week by telephone and Internet. Services are available in English or Spanish. To learn more, call
866.530.9869 or visit

Five tips to save money on Super Bowl Sunday

Every year, millions of Americans throw a Super Bowl party for their friends and family. It's a great opportunity to relax and have fun, but if you're not careful the cost can get out of hand pretty quickly. 

So whether you’re hosting a large group of people or just having a few friends over, the following are a few tips to ensure you score big without spending big bucks.

  • Set a budget and stick to it. The best thing about a Super Bowl party is that it doesn’t require a lot of planning in the way of entertainment and decorations – as long as you own a TV. So when you are determining your budget the only things you really need to account for are food, drinks and plenty of napkins. Once you determine how much you want to spend, stick to it!
  • Make your own pizza and wings. Let’s face it, pizza and hot wings are a staple on Super Bowl Sunday, and while there are sure to be plenty of deals on take-out pizza and wings on the big day, you may be able to save money by making the items yourself. Download our free Cheap Eats eBook for a great, inexpensive pizza recipe. And if you’re planning on serving wings, it’s a great time to break out the slow-cooker. You can prepare them ahead of time and keep them warm throughout the entire game.
  • Avoid pre-made snack trays. You know those convenient trays full of high-priced fruits and veggies at the grocery store? You can create the same spread for a fraction of the price if you’re willing to take a few extra minutes to cut up the veggies yourself. The same goes for those meat and cheese appetizer trays. You would be shocked at the mark-up on these products compared with the cost of making it yourself.
  • Make it BYOB. The biggest cost you will incur for the big game is bound to be alcohol, if you’re planning on serving it. One of the easiest ways to cut back on this cost is to make your party a BYOB. Make it fun and have everyone bring their favorite beer or wine to share with everyone. Also, be sure to have a few two-liter bottles of soda handy for those who don’t plan on partaking in alcoholic beverages. The two-liter bottles cost a lot less than cans, and if you stick with store-brand soda you can save even more.
  • Use real dishes and flatware. While disposable dishes are more convenient, you are literally throwing way money at the end of the night. Why not save the money and use your own dishes and flatware? If you don’t have enough, you can always borrow some place settings from family and friends.

Remember not to stress too much over the details. Sit back and enjoy yourself — it is a party afterall. And even if your team doesn't win, at least you'll know you've won big by pulling off a bash without breaking the bank.   

MMI Debt Management Plan Client Corner
Tips for Success

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