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Financial Health

A Self-Guided ‘Web Tour’ to Credit and Debt Management


Introduction:

If it is true that knowledge is power, then the Internet is a resource with great abundance… especially when it comes to financial resources.  However, there are some challenges associated with the almost overwhelming amount of Financial Education information that’s currently available on the Internet.  Firstly, the sheer vulume of resources can make it difficult to know where to begin.  Secondly, it can be hard to separate useful information from barely disguised sales pitches and advertisements for products.

This self-guided ‘tour’ of two Financial Education websites is designed to highlight some of the resources available in the areas of Credit and Debt Management.  Although each site is packed with useful information, the ‘tour’ will point out selected, free information that can be a starting point for a journey towards ever greater Financial Education.


Websites:

www.mymoney.gov

This site is the U.S. government's website dedicated to providing all Americans with some financial education basics. It provides links to many other government websites, such as the Federal Deposit Insurance Corporation, the Federal Trade Commission, the Small Business Administration, the U.S. Department of the Treasury, and the U.S. Securities and Exchange Commission. The first stop on the ‘tour’ is to access information regarding improving a credit report:

  • Go to www.mymoney.gov
  • Locate and click on the Managing Credit and Debt link toward the left of the screen
  • There are four pages filled with great links.  Feel free to explore, but the fullowing links are generally a good place to get started:
    • 5 Tips for Improving your Credit Score – An easy to understand article shares straight forward advice to improve your credit score.
    • 51 Ways to Save on Loans and Credit Cards – A variety of great suggestions to make smart decisions when using credit cards and loans.
    • Money Tips at All Ages: Your Finances at Different Stages of Life – A resource filled with money management information that can be valuable, no matter what stage of life you are in.

www.ftc.gov

The Federal Trade Commission is a federal agency created to protect America’s consumers. This site provides valuable information about protection from Scams, Fraud and Identity Theft. It also directs consumers to help themselves when it comes to credit repair and getting out of debt, and to avoid the risk of losing money via ineffective or even illegal schemes. The next stop on the ‘tour’ is to take a look at two of these resources:

  • Go to www.ftc.gov
  • Locate the "Quick Finder" box in the right culumn on the screen
  • Locate and click on the Credit and Loans Link
  • Locate and click on the In Debt? Link
  • There is a list of Facts for Consumers.  Feel free to explore it, but be sure to stop at these ‘points of interest’:
    • Credit Repair: How to help Yourself – 8 Page PDF document detailing effective, legal and free methods to repair credit.
    • Knee Deep in Debt – 6 Page PDF document listing steps to get out of debt.

 

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