Many people planning to be married take time to reexamine financial priorities, set a new budget, and establish savings or debt reduction goals.Being credit-wise consumers means realizing that managing your credit requires similar planning and care-and doubly so when you are entering into marriage.Think about your special personal and financial goals for the coming year.
How Credit Reports Work |
| What is a credit report? Whenever you apply for any type of credit or financing, a credit report is pulled from at least one of the three major credit bureaus. While there are hundreds of smaller credit bureaus around the country, virtually every credit bureau is affiliated with either Experian, Trans Union, or Equifax. |
Below is a summary of the FCRA. The full Act can be obtained directly from the Federal Trade Commission’s web site here.
Fair Credit Reporting Act (Summary)
Public Law 91-508
The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his credit report on the basis of “completeness and accuracy.” If, after a reinvestigation by the credit bureau, the disputed information “is found to be inaccurate or can no longer be verified, the [credit bureau] shall promptly delete such information.”
Getting a college degree is more important than ever. Over a lifetime of employment an average college graduate will earn more than twice the income of someone who graduated from only high school.
However, a true comparison is not quite as rosy. During his or her college years a full time college student forgoes income that the high school graduate who went immediately into the work force after graduating from high school would be earning. Not only that but the high school graduate is receiving what could be valuable on the job training while being paid for their services.
One of the great needs of young people has been addressed with the MoneySKILL® personal finance course. How to manage your personal finances has been a subject area long missing from the typical high school education in America.
MoneySKILL® is a highly interactive, reality-based Internet curriculum.
Its purpose is to educate students to make informed financial decisions. The course consists of 34 “How To” modules on income, money management, spending and credit, and saving and investing. The modules are designed to be approximately 40 minutes in length.
