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Date
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Item
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Actions
Needed
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Taking
Action
|
Articles
From
Library
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__/__
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Review you
credit report.
A
solid and accurate credit record can make borrowing easier and cheaper.
You can get
a free report annually at www.annualcreditreport.com or you can
order one..
Equifax - 800/997-2493
Experian - 888/397-3742
TransUnion - 800/888-4213
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1.
2.
3.
|
|
Developing
and Using a Wise Borrowing Strategy
Review
Your Credit Report
Don't
Let Anyone Steal Your Credit Identity
|
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__/__
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Examine your
home mortgage.
Would
refinancing reduce your monthly payments because of lower rates?
Consider paying
down your mortgage faster than the regular amortization.
Examine whether
you have the right type of mortgage. A shorter term or adjustable
rate mortgage may better match your plans and offer a lower rate.
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1.
2.
3.
|
Visit with a
mortgage professional to learn how the right mortgage can save you
money.
Compare current
mortgage rates with what you are currently paying.
|
Evaluating
Mortgage Types
Should
You Refinance Your Home Mortgage
|
|
__/__
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Consider
a home equity loan.
Using
the proceeds of a home equity loan to pay off credit card debt will
probably reduce your interest costs. Interest paid on a home equity
loan may result in a tax deduction unlike other types of interest.
|
1.
2.
3.
|
Review the terms
of home equity loan programs and check the rates.
|
Home
Equity Loans
Tax
Implications of Home Ownership
|
|
__/__
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Evaluate
your credit cards.
Are
you using them wisely and paying off the balances monthly?
Does the combination
of fees, rates and "reward" benefits match how you use the card
and provide the lowest total costs?
|
1.
2.
3.
|
Review
credit card terms to find the one that is right for you. |
Evaluating
Credit Cards
Guidelines
for First Time Credit Card Users
|
|
__/__
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Auto loans.
If
borrowing for the purchase of a car, be sure to compare the loan
rates from your financial institution with those offered by the
auto dealer. A rebate from the dealer, instead of their "low" rates
may be better.
|
1.
2.
3.
|
Check the terms
of the auto loan program and compare the rates.
|
|
|
__/__
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Electronic
payments.
Using
regularly scheduled electronic payments from your checking account
to pay your mortgage, auto loan or credit card bill can simplify
your monthly bill paying and ensure payments are received in time
to avoid any late payment charges.
|
1.
2.
3.
|
Sign
up for online banking. |
Ten
Reasons to Consider Online Banking |
|
__/__
|
Getting help.
If
your borrowing is causing you anguish, take steps to control your
borrowing.
Quit using credit
cards, substitute a debit card for your credit card, develop a plan
to pay off your debt and definitely pay more than the monthly minimum
on your credit card balances.
|
1.
2.
3.
|
|
Developing
and Using a Wise Borrowing Strategy
Reducing
Your Debt Burden
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