The wise use of credit requires a knowledge of the process for establishing credit. In addition, you should develop an awareness of credit reports and the legal rights associated with using consumer credit.
| Short-Term Financial Planning Activities | Wise Use of Credit Websites |
| 1. Prepare an inventory of current credit balances and
monthly payments. | PFP Sheet 29 | |
| 2. Review your credit file for current accuracy of information. | Pages 177–180 |
| 3. Become familiar with consumer credit laws that may
relate to various aspects of your use of credit. | Exhibit 6–12 |
| Long-Term Financial Planning Activities |
| 1. Describe actions you may take to reduce your credit
balances (if applicable). | |
| 2. Create a plan for spending that provides for using credit
at an appropriate level. | |
