When many people hear the term financial health, they tend to think that it means that you have a lot of money or that you are all caught up on your bills. In reality, there are many things that comprise a true picture of financial health. Let’s take a look at them…
Credit Score: There are many commercials that talk about getting a copy of your credit score. The reason you need to know your credit score is that it helps you know what type of credit and terms you can get. A good credit score helps you get lower credit card interest rates, lower mortgage payments and auto loans. Also, it tells creditors about your credit worthiness and the likelihood of you being responsible for paying back the money that they loan you in the first place. A bad credit score makes for higher interest rates and sometimes no credit at all. Check out the credit reporting bureaus or credit reporting sites to get a copy of your credit report.
Debt: While there is such a thing as good debt, when people hear this word they