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1. A lot of people don’t have wills. Everyone needs a will, but not all people have one. Wills are important because they explain who gets your stuff after you die. You don’t want your things going to someone you don’t want them to go to. My Aunt Martha went to a lawyer to get a will, I did my will online. My dad died in 1988. He didn’t have a will. His stuff went to my step mom, who I don’t get along with. If he would have had a will, I might have been able to start college sooner. But my dad didn’t have a will. A will is good and you need to get one. Do you have a will?

2. Recent economic concerns prompted President Obama to meet with credit card industry executives in April, 2009. The national credit card delinquency rate has continued to grow in recent times, and the President, along with Congress, aims to end unfair fees and increases in interest rates. In addition, the President asked that all terms, disclosures, and statements be clear and easy to read for consumers. Confusing terms, often laid out in fine print, are believed to have led to the nation’s rising debt and delinquency.

3. Individuals can be denied credit for a number of reasons. Individuals who are near limits on existing cards, have too much outstanding debt or too many accounts overall, have a history of late payments, charge-offs or bankruptcy are likely to be denied credit. Individuals denied credit, by law, will receive a letter documenting the reason for the denial under the Fair Credit Reporting Act. Individuals who receive that letter should then examine the reasons for the denial and make efforts to correct their credit.

4. Most consumers understand that a good credit score is vital to one’s financial security and stability. Many people may not understand how a credit score is calculated. Payment history accounts for roughly 35% of one’s overall score. This means that on-time payments are absolutely essential. Debt level is not far behind at 30%. This accounts for near-limits and the total amount of money owed. Length of credit history is next at 15%, followed by inquiries at 10% and mix of credit at 10%.

5. Avoiding and managing debt is hard. Things cost so much money that it’s hard not to spend more than you make. The bills pile up, the utilities cost a lot, and going to the grocery store is expensive too. Then once those bills are paid, someone in the family gets hurt and needs to go the doctor or an unexpected bill comes in like car tags or something. We are told to just use cash and not use credit cards to help stay out of debt. Who’s going to pay those extra monthly bills if it’s not the credit cards? Avoiding and managing debit is too hard.

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    Nice paragraphs. Do you have a question?

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