Economists have told us that the recession ended in 2009, but most American’s are still struggling to pay bills, sinking deeper in debt and taking their credit scores with it. And as the holiday season approaches some Americans are wondering how they’re going to pay for holiday gifts without going deeper into debt.
To help, Wells Fargo has designated October as Smarter Credit Month, a time for Americans to really take control of their finances, and learn how to avoid some of the pitfalls that can lead to severe financial problems down the road.
Michelle Thornhill will offer tips on setting budgets that’ll get you through the whole year. Many people have low credit scores due to making late payments, having too many current credit cards and spending more than you make. There are several ways to keep your credit in check:
– Pay bills on time
– Keep balances low
– Don’t open new credit cards you don’t need
– Pay off debt
– Develop a budget
– Save a percentage of every pay check
Through their Smarter Credit Center, Wells Fargo is encouraging consumers to learn how to understand their credit so they can begin to use their credit wisely and achieve their financial goals. The online site offers two-minute videos that will allow consumers to learn about important topics such as the 4 C’s of Credit, Establishing and Improving Credit, and Protecting Credit by Preventing Identity Theft.
Michelle Thornhill is the Senior Vice President Diverse Segments at Wells Fargo. Michelle has 15 years of experience developing consumer initiatives for diverse audiences in the financial services and non-profit sector, and has traveled extensively, both domestically and internationally, in support of these goals. Michelle’s educational credentials blend finance and public policy, with a BS in Family Financial Management from Virginia Polytechnic Institute and State University and a Master of Public Administration from the John F. Kennedy School of Government, Harvard University
Interview Source: Wells Fargo
