Free Books Offer Good Advice Despite Subtle Ads
Consumers looking for financial advice continue to snap up advice manuals on everything from handling credit to investing. However, few people realize that there are rafts of smaller handbooks and pamphlets that do a solid job of explaining many of these same topics--and they’re free.
The free books, put out by consumer groups, investment companies and even the federal government are often partisan, containing subtle advertisements for the companies or industry groups that sponsor them. Nonetheless, many are excellent.
Here’s a list of some of the better recent offerings:
* The Consumer Information Center’s new “Consumer Information Catalog” focuses on employment issues, including hiring an employment agency to help you find work. The catalogue, which also lists more than 200 free and low-cost federal publications on a wide array of subjects--from banking to helping your kids cope with school--can be ordered by writing to: Consumer Information Catalog, Pueblo, CO 81009.
* New York-based Citibank has a series of credit guides geared to different market segments. There’s “Money Matters for Young Adults,” “Money Matters for Women,” “Money Matters for Newlyweds” and “Coping with a Credit Crisis.” The bank also puts out a short brochure called “Facing Credit Card Fraud.” The guides can be ordered by calling (800) 669-2635.
* Key Federal Savings Bank, in Havre de Grace, Md., specializes in offering secured credit cards to people with checkered payment records. Predictably, the bank’s free books focus on that market.
“Managing Your Credit” is a 24-page booklet that provides an overview on responsible credit management. Order by calling (800) 228-5757.
“How to Recover from a Bankruptcy . . . and Get a Credit Card” outlines steps to take to restore good credit after a personal bankruptcy. Call (800) 228-3303.
The bank’s pocket-sized “rate finder” helps calculate and compare the total cost of a secured credit card. Call (800) 235-7285.
* The National Consumers League published 11 new pamphlets and work sheets covering everything from budgeting and getting a second mortgage to avoiding financial scams. The nonprofit group doesn’t charge for the booklets, but asks that consumers send $3 to defray the cost of postage.
The packet includes a budget booklet and work sheet titled “Three Steps to Put You in Control of Your Pocketbook;” several mortgage booklets; a pamphlet on avoiding credit repair scams, and “Denied Credit? The Credit Report Blues,” which explains how to get, review and correct your credit report.
To order, send a check or money order for $3 to the National Consumers League, 815 15th St., N.W., Washington, D.C. 20005.
* USA Funds is providing a short “Education Loan Guide” that spells out loan limits, rates, fees and qualifications for the various types of federally sponsored student loans. Write to: United Student Aid Funds Inc., P.O. Box 6180, Indianapolis, IN. 46206-6180. Or phone (800) 562-6872.
* T. Rowe Price’s “Personal Strategy Planner” gives basic investment information and tips on how to diversify your nest egg, set goals and determine your risk tolerance.
The Baltimore mutual fund company also offers excellent kits that explain investment strategies for retirement. One, the “Retirement Planning Kit,” is aimed at those who have several years--if not decades--before retirement. The other, “The Retirees Financial Guide,” helps people who are retired or within five years of retirement.
The guides can be ordered by calling (800) 638-5660.
* Fixed-income investments have drastically declined in popularity since interest rates started to rise last February, but Fidelity Investments’ “Discovering Opportunities with Fixed Income Investments” is, nonetheless, recommended reading. The 40-page guide explains the difference between various types of fixed-income investments, ranging from Treasury issues to mortgage-backed securities and certificates of deposit. And it explains how these investments can fit into your portfolio.
Fidelity also offers several other fine informational brochures on investing, including “Common Sense Guide to Investing in International Stock Funds” and “Common Sense Guide to Tax Free Investing.”
To order, call (800) 544-8888 or pick them up in a Fidelity branch.
* Scudder, Stevens & Clark Inc. introduced a series of investment planning materials for mutual fund investors. The books are free if you’re a Scudder Funds shareholder. If not, they cost $2.50 per book, plus $2.50 per order for shipping and handling.
“Investing Basics” covers setting goals, understanding stocks, bonds and money market investments and evaluating risk. “Investing for College” explains how to set up a regular investment plan, how to diversify among investments and includes a work sheet to estimate future education costs.
“Investing for Retirement” explains how to balance and maintain a retirement portfolio, how to use individual retirement accounts and 401(k)s to your best advantage, and work sheets to help estimate how much money you’ll need.
To order any of the Scudder investor series, call (800) 225-2470, ext. 7584.
