Check Your Credit Report. Research shows that only about one third of Americans regularly check their credit report. As identity theft rises, checking your credit report is your first line of defense. Order a free copy of your credit report from annualcreditreport.com. The Federal Reserve reports that nearly 80% of credit reports contain at least one error. It’s up to you to check your report and keep it up-to-date. Follow the directions in the report for contacting the credit bureaus regarding errors that need correcting.
Review Your Retirement Plan. According to the Employee Benefit Research Institute, 2011 Retirement Confidence Survey, 30% of Americans have less than $1000 saved for retirement. An additional 20% have less than $25,000. That’s half of the population. Where do you fall? Use a retirement planning calculator to estimate your retirement needs and put a tax-deferred savings plan in place.
Clean up Your Banking. According to bankrate.com’s 2011 Credit Union Checking Survey, the majority of credit unions (76%) offer no fee checking. Bankrate reports that 65% of banks surveyed offer no-strings-attached no-fee checking. If you’re paying monthly service fees on your bank accounts, take the time to shop around and switch.
Visit www.inCharge.org for more information.
