By Ann Carrns While no one likes to be nagged, a bit of prodding — with periodic emails or online messages — can help consumers reduce their credit card debt, a new study has found. The research, conducted by the Urban Institute and the D2D Fund, sought to determine if reminding people about simple financial “rules of thumb” could help them lower their credit card debt. Read more here.
Prepared by: Financial Planning Association Key Points Why Credit Is Important Missing Payments How Credit Reporting Works Signs of Credit Overextension Credit Reporting Agencies Be Credit-Smart Points to Remember Installment debt, in itself, is not a bad thing. It enables us to make major purchases that would be nearly impossible to finance up-front. The problem is, in this consumer society, we’re bombarded with advertisements for literally thousands of “must-have” products. The result is that while our parents tended to pay… Read More