Establishing and Maintaining a Credit Record
(Activities for Chapters 4 and 11)
The wise use of credit requires a knowledge of the process for establishing credit. In addition, you should develop an awareness of credit reports and the legal rights associated with using consumer credit.
Short-Term Financial Planning Activities | Wise Use of Credit Websites |
1. Prepare an inventory of current credit balances and monthly payments.
|  PFP Sheet 06
(53.0K)
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2. Review your credit file for current accuracy of information.
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3. Become familiar with consumer credit laws that may relate to various aspects of your use of credit.
| | Long-Term Financial Planning Activities |
1. Describe actions you may take to reduce your credit balances (if applicable).
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2. Create a plan for spending that provides for using credit at an appropriate level.
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Comparing Credit Sources and Costs
(Activities for Chapters 3 and 4)
Credit is available from many sources. Becoming aware of the differences among financial institutions related to borrowing costs and other factors while wisely managing your debt will help you avoid financial difficulties.
Short-Term Financial Planning Activities | Comparing Credit Websites |
1. Evaluate your current use of credit cards. Compare various credit card offers related to APR, annual fee, grace period, and other fees.
| PFP Sheet 07
(44.0K)
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2. Compare various credit sources for loans related to various financial needs.
| PFP Sheet 08
(46.0K)
| Long-Term Financial Planning Activities |
1. Investigate various actions commonly taken to avoid debt problems.
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2. Prepare a spending plan to minimize the use of credit.
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