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Creating a Financial Plan
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Establishing and Maintaining a Credit Record

The wise use of credit requires 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

Your Short-Term Financial Planning ActivitiesResources
1. Prepare an inventory of current credit balances and monthly payments.PFP Sheet 29
http://credit.about.com
www.bankrate.com
www.banx.com
2. Review your credit file for current accuracy of information.www.myfico.com
www.equifax.com
www.experian.com
www.transunion.com
3. Become familiar with consumer credit laws that may relate to various aspects of your use of credit.www.ftc.gov
www.federalreserve.gov
Your Long-Term Financial Planning Activities
1. Describe actions you may take to reduce your credit balances (if applicable).www.ncfe.org
www.profina.org
2. Create a plan for spending that provides for using credit at an appropriate level.Text pages 169–172
www.mymoney.gov





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