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Product ID: 408865EAU
 

Financial Wellness: Building Credit

OnDemand Webinar (61 minutes)

Gain the tools necessary to establish, build, repair, and maintain a good credit score.For better or for worse, the American economy runs on borrowed money. Most of us borrow money to buy cars, homes, furniture, appliances, and a college education. The cost of borrowing money, and the amount available to borrow, often depends on our credit history and score. Not only will a good credit score increase our chances of obtaining a loan with competitive terms, but it may also be a condition of employment and/or a requirement before receiving electricity, water, cell phone, and similar services. Although we may not be born with a good credit score, we can acquire one through improvement in our overall financial health. Would-be borrowers must recognize the relationship between financial health and their credit, understand the importance of having a good credit score, and be given the tools and resources necessary to establish, build, repair, and maintain one. Similarly, financial practitioners need to recognize the obstacles borrowers face to obtaining a good credit score and understand what steps can be taken to overcome these challenges.

Authors

Erik Carter, J.D., CFP?, Financial Finesse Gregory A. Ward, CFP?, Financial Finesse

Agenda

The Current State of Financial Wellness

• Financial Wellness Defined

• The Current State of Financial Wellness and Resilience

• The Relationship Between Credit and Financial Wellness and Resilience

Understanding Credit

• The Importance of a Good Credit Score

• Differences Between Credit Scores

• How Credit Scores Are Calculated

Cleaning up Credit Reports

• How to Get Free Copies of Credit Reports

• Identifying and Removing Errors

• Dealing With Delinquent Debts

Improving Credit Scores

• Building a Positive Credit History

• Decreasing Credit Utilization

• Bankruptcy and Rebuilding Credit

Protecting Credit

• Common Credit Mistakes

• Security Freezes

• Credit Monitoring