We shouldn’t let the uncertainties of life overpower us. This might seem like a clich, but it’s a good principle to follow in the matter of finances.
The lack of a proper financial plan can lead to serious problems in our lives. It’s really important that you plan right, as far as money is concerned. Medical emergencies and unexpected accidents require immediate monetary help, and you should have enough funds to bail you out of such situations. A few baby steps are all you need for a perfect financial plan and a relaxed future. The earlier the better. Keep the following pointers in mind for a financially secure future.
Plan Right
Maintain a record of all the financial expenses that you make. Keep a record of the money you’re saving every month as well. Is that amount enough for securing your and your family’s future? If the answer is no, try and save more. Reduce your expenses or look for additional income options.
Spend Right
A little bit of luxury is understandable. However, don’t overdo it. Have a saving goal in mind and make sure to reach it every month. Splurging a huge amount under peer pressure is something that you need to put an end to, unless you have already done it.
Pay Taxes And Debts On Time
Make sure to pay taxes and debts on time. If you default, you would have to pay penalties and late charges. If you have taken a loan, pay the EMIs on time.
Invest
Buying assets that appreciate in value is a great way to make money. Invest in shares and debentures or any other assets that have a lucrative future. However, make sure to talk to an expert before making such investments. Investing in the wrong assets can lead to losses.
Health is Wealth
Serious illnesses caused due to negligence can cost you a bomb. Take good care of your health and everyone around you. Lead a healthy lifestyle and make sure to exercise few times in a week. Get rid of bad habits and most importantly, be happy. Try and get the right treatment at an early stage of the illness so that the cost of the treatment doesn’t bog you down.
A proper financial planning is bound to make your future better, and more importantly, secure. Plan properly and nothing can stop you from achieving your financial goals. Talk to experts and friends who are doing well in life financially. Invest in the right places and make sure to save. Unless you save today, you won’t have a secured future. Consider investing in medical insurances too as medical costs are touching the sky.
Make a plan and stick to it. No one is asking you to forget about holidays and other luxuries in life. Learn the art of balance, and you’ll be in a better position to handle your financial needs.
There are companies that work on collecting and maintaining credit information of consumers. These are known as credit reporting agencies (CRAs). There are three such major CRAs in the country, namely Equifax, Experian, and TransUnion. Apart from these, there are other smaller-scale agencies too that specialize at the job. If you’re worried about “where to get my credit score?,” the larger CRAs are the most reliable bets.
These major CRAs obtain information from companies that you hold business and transactions with. People or companies that lend you money regularly report to these CRAs on your repaying status. There is also detailed information on the amount you are indebted and whether you have ever defaulted on your payments. Aside from the reports obtained from lenders, these companies also tally your general records based on certain other aspects. Some of these aspects are your public records from the local and state judiciary. These include your tax records and bankruptcy information. This information makes up an important chunk of your credit score and its report.
Equifax
Present in 24 countries, Equifax is an agency that offers consumers protection against identity theft and credit fraudulence. They also sell credit reports and credit monitoring assistance to businesses.
Experian
Experian started off in London and is now a trusted agency in 39 different countries. It provides you with a credit score, credit report, and even credit tracker on subscription. The agency uses FICO 8 system of credit score calculation. Experian was a part of Forbes’ “World’s Most Innovative Companies” in 2018.
TransUnion
Based across 30 countries with a database of over 1 billion consumers, TransUnion is another CRA giant. The agency, like the other ones, will provide you with your credit score and your credit reports. In case you decide to freeze your TransUnion credit report, it will also go the extra mile to notify Equifax and Experian, which frankly is a big help especially in case of identity theft and credit fraud.
So, the next time you are sat wondering “where to get my credit score?,” think of these three giants that provide you with an annual credit score and credit report for free once each year. However, if you are looking for more frequent updates, you can subscribe to their services and receive your monthly updates.
Did you know that you have more than a single credit score? Agencies calculate your credit score based on the data in your credit reports. If you are wondering, “where to get my credit score?,” there are three main credit reporting agencies. These can have different credit scores for you if your information on each of their credit reports is different. Also, these agencies charge a fee to reveal your credit score.
Recently, it has become easier to track and get hold of your credit score without paying any fees. You can get it from your credit card company, your loan provider, and even from a non-profit counselor. Here are a few tips you can use to check your score.