National Credit Education Month: 3 Tips for Better Financial Health
National Credit Education Month – In recognition of National Credit Education Month, here are some important steps to protect your financial livelihood.
The month of March is an important time to discuss finances and tips for saving more this year. As many work through their past year’s tax forms and come up with aggressive plans to save and do more this year, it’s important to also point out the value of high credit scores – and protecting your personal financial data from theft play in the overall picture.
In honor of National Credit Education Month, we’re offering you these 3 important tips you should keep in mind as you plan your 2021 and future budget and financial goals.
Understand Your Credit Report & Score
One of the first steps in getting better control over your financial future is to understand where you stand in terms of credit scoring with the reporting agencies. You can obtain one free credit report each year or request one from an accredited firm. The data included on these reports will show where your debts lie and how reliable you are with your finances and all open accounts.
When you have this information and can compare it against the earning you receive it is simple to see your debt to income ratio and begin to understand how much you can save as well as areas required improvements.
Pair Realistic Goals with a Definite Plan
Once you get a better view of your financial outlook and past, you should speak with a professional or do you own research and decide some realistic goals for both saving and investing. After you’ve decided how to approach paying down your debts and what you will do with your money, make a plan and then write it down.
Experts note that when a plan is written down and put somewhere in plain sight where you can view and be reminded of it daily, you’re far more likely to keep the course and stick with it.
You simply cannot enjoy the fruits of your efforts if someone with ill intentions can gain access to those accounts. This is why it is absolutely critical to include security and protection plans in with your financial goals. Know the creditors you borrow from, secure your accounts and data and absolutely never share credentials with anyone.
You should also have a sound destruction plan for papers like invoices, statements and other files that contain sensitive information on them. Professional shredding services are the way to go to give you total peace of mind.
This month, and every day of the year, take important steps to protect your financial livelihood. Need help with paper shredding and document destruction? Call Legal Shred today!
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