It haunts and affects every aspect of our daily living, whether you’re looking to get a loan for a car or house, and these days even if you’re applying for employment, your credit score can have incredibly negative effects on your life.
Learn about National Get Smart About Credit Day
National Get Smart About Credit Day encourages you to take control of this very important aspect of your life and learn how to manage it properly. There will come a day when it may be incredibly important that you maintain a proper credit score, and be able to hold your head high when your accounts are checked.
It doesn’t matter whether you are currently in debt or you have never had a credit card before, National Get Smart About Credit Day is an important day. It helps you to learn more about borrowing money – the good and the bad. It is an important day of awareness as well, so if you already have a lot of knowledge about this subject, make sure you share it with others.
Encourage people to develop healthy money habits so that they have a bright future. It is also important to make sure that people are aware that being in debt does not mean you have ruined everything. It is possible to get out of the situation.
In fact, if you do a bit of digging online, you will find lots of true story accounts from people who have been in debt yet have managed to turn their lives around. This can give you the inspiration you need to make the right changes in order to pay off your debt and put yourself in a better position financially. Not only this, but you could pick up some hints and tips on the best way to get out of debt quickly and effectively.
History of National Get Smart About Credit Day
National Get Smart About Credit Day was established by the ABA (American Bankers Association) to help encourage young people to get a handle on their credit from the very beginning.
By educating people on the forms of credit and how to properly increase, manage, and protect your credit score, they ensure that the coming generation will have smart investors who are able to improve their lot in life without being buried in debt.
To shed some light on the severity of the situation, one need only look at the average American household and the debt that they hold. It is not at all uncommon for American households to have over $15k in credit card debt alone, not including student loans ($49k), auto loans ($28k) and homes that often are in the range of $170-$175k.
Every year this debt only continues to rise, and that’s why it became imperative that the ABA begin educating people everywhere on how to protect themselves from the destructive force that is financial debt.
Presentations and instructional documents on how to ensure that families have a secure financial future are their stock and trade. National Get Smart About Credit Day is your opportunity to join this movement and get educated on securing your credit for the future.
How to celebrate National Get Smart About Credit Day
National Get Smart About Credit Day is best celebrated by going to visit your financial adviser and beginning the path of identifying your present financial circumstances.
From there you can research the foibles of handling credit and building a solid foundation to build your financial future on, and the ABA is a great place to start looking into it. The future of you, your children, and the inheritance you will share with your family are all built on the back of financial security. National Get Smart About Credit Day is a great opportunity to begin.
One thing that we would definitely recommend doing on National Get Smart About Credit Day is checking your credit score. This is easy to do these days, as a lot of websites offer a basic service whereby you can check your credit score for free. If you are not happy with your credit score, it could be worth paying for the more in-depth service so that you can see where you are going wrong and why your score is so low. It could simply be that there is a mistake on your credit report, and if this is the case, the best thing that you can do is contact the credit agency and the lender or business that has reported the error so that they can put things right.
There are a number of different things that impact your credit score, so you can work on these elements to start improving your score. Of course, the amount of debt that you are in makes a difference, so the first thing you should do is commit to paying your debts off. You also need to make sure that all of your personal information is up-to-date. Opening a lot of new accounts and making many credit applications can lower your score, so try to avoid doing this.
Finally, a lot of people use National Get Smart About Credit Day to put together a plan to pay off their debts. To do this, you should sit down and work out which debt is the most expensive, i.e. which has the biggest APR. Work on paying this off first, and then you can work your way down the other debts until you have paid them all off. By having a plan, you will feel a lot more comfortable about what you are able to achieve and getting yourself out of this position.