Get Ready for Your Mid-Year Money Check-Up

Look at Your Credit Report

Proactively staying on top of your credit report is an important part of your money checkup. Regularly monitoring your credit can give you a heads up on errors, protect you from fraud, and provide you with important information to strengthen your credit score. It is important to review your credit report to check for any unusual activity. You can access your reports from the three major monitoring companies by visiting the website.

Why is it important to check your credit report? It shows vital information like the number of credit cards and loans you have, whether your bills are paid on time, and if any of yours have been turned over for collection debts. Creditors, some employers, and other businesses use your credit to decide if they want to do business with you — and what terms they will offer you. Have you ever wondered how your credit score is calculated?

GreenPath has trained, certified counselors who can walk you through a free review of your credit report. They will take the time to explain how credit scoring works, how to read the report and answer any of your questions. Understanding credit is much easier when you have a trained professional available who can help. Normally, you are entitled to receive one free credit report per year from each of the three credit bureaus – Experian, Equifax, and TransUnion.

However, due to the pandemic, through December 2022, the bureaus are offering access to your credit report each week. While the reports are free, there is a small fee charged to see your actual credit score. Keeping up with what is in your credit report helps reduce financial stress because when it comes to your credit, knowledge is power.

You Are Not Alone

The best first step to taking control of your money is knowing where you are now and where you are going.

Remember that on your money journey, you are not alone. Some people are reluctant to look at their finances honestly. Creating and managing your personal finances is an active process, not something you look at only one time a year and hope everything magically works out.

When it comes to money, small steps go a long way and have a lasting impact. The small step of regularly looking at your finances and making adjustments along the way keeps you on track and can relieve financial stress.

As you look at your money at this mid-year point, remember you are not on this financial journey alone. The spending, credit, and debt management advice you need is just a phone call away through GreenPath Financial Services.