ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
08.10.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Study Shows Americans Need to Get Financially Fit

Author: Samuel Martin Author Ranking Silver | Posted: 12-10-2007 | Comments: 0 | Views: 1 | Rating:  (50) Article Popularity - Green (?) Got a Question? Ask.
Sign Up Now!

The survey polled 1,002 American adults. It gauged respondents' knowledge of the basics of personal finance like budgeting, saving habits and credit principles.

More than one-third reported they do not use a budget to manage their family's expenses; over 30 percent of those surveyed either did not know or responded incorrectly when asked to define a good credit score; and nearly one-fourth have never reviewed their credit report.

"Given the growing importance and influence of credit scores on purchasing decisions, it's startling that the majority of Americans do not understand what constitutes a good credit score," said Ken McEldowney, executive director of Consumer Action.

Various factors are used to determine a credit score, including a consumer's payment history, the amount of debt currently owed and the length of credit history.

An amendment to the federal Fair and Accurate Credit Transactions Act passed in 2004 now allows consumers to receive one free credit report every year from each of the three major credit reporting agencies. Consumers can request their reports online at www.annualcreditreport.com.

As easy as it is to check your credit score and credit report, "many still neglect to take this simple step to protect their credit and their finances," said Diana Don Colby, director of financial education at Capital One.

Besides reviewing your credit report, experts agree education is the key to a healthy financial future. To help consumers understand the basics, Capital One and Consumer Action created the MoneyWi$e financial education program.

The MoneyWi$e program includes free, multilingual brochures on personal finance topics, such as improving and rebuilding credit, budgeting, saving and investing.

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Source: http://www.articlesbase.com/finance-articles/study-shows-americans-need-to-get-financially-fit-233393.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

For More Article Visit :: http://www.thearticleinsiders.com/

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Got a Question? Ask.

Ask the community a question about this article:

Q&A Powered by:
Powered by Yedda 

Latest Finance Articles

BVI Offshore Registration: All That You Need To Know To Get Started
By: Ramapati Singhania | 08/10/2008
BVI offshore registration is certainly cheaper than Lichtenstein or Luxembourg and extremely popular. More than 6,500 companies are incorporated in this jusrisdiction every month!

The History of the Global Forex Market
By: Orlando Thompson | 07/10/2008
In this article we explain what the global forex market is and how it came to be this is very insightful information that will help you in your forex trading system choices.

How To Go About Improving Your Credit Score
By: MIKE SELVON | 07/10/2008
While it'd be nice to live a "credit-free existence," it can be difficult to do so in today's world.

Self Directed IRA Possibilities With A Small Business
By: Jerry Glynn | 07/10/2008
It is normally not possible to set up a self directed IRA with a small business. This article describes a little known strategy that can be used in conjunction with a small business.

Understanding Debt Consolidation Loans
By: Richard Greenwood | 07/10/2008
It can be all too easy to end up in debt and especially during the current times of financial uncertainty you may find yourself unable to make repayments. Consolidating your debt can make your debts easier to manage and lower your interest charges meaning you become debt free faster.

Credit Card Comparison
By: Richard Greenwood | 07/10/2008
Credit card offers are everywhere and all claim to out do each other. How do you cut through the marketing talk and understand the key features you need to compare to make an informed decision. Find out with this informative article on credit card comparison.

Shopping For Auto Insurance
By: Brenda Williams | 07/10/2008
When you get your license for the first time before you begin driving you need to get car insurance as it's mandatory to have car insurance while driving. Car insurance can be rather expensive, especially for new drivers which is why you'll need to ensure that you're getting the best...

Taking 100% Responsibility - the Prerequisite for Creating Money & Marriage Success
By: Leslie Cunningham | 07/10/2008
It's a simple concept, to refrain from blaming and complaining, and yet it's a challenge to change a habit, especially one that everyone else has. Like sticking to your diet, when everyone else around you is enjoying chocolate cake. Keep reading and you'll find out how this relates to your marriage and finances. Then I'll share some action steps to help you become 100% responsible for your life.

More from Samuel Martin

Web Sites Level Playing Field in Business
By: Samuel Martin | 12/10/2007 | Online Business
For many years, only the largest companies had the resources to attract and serve customers all over the world. Now, thanks to technological innovations and the Internet, small businesses are able to offer the same high-quality services and compete on a global scale.

Touchscreen Technology: a New Gateway to Products, Services
By: Samuel Martin | 12/10/2007 | Communication
Frequent fliers know that checking in for flights is much easier and quicker today thanks to self-serve kiosks that enable users to zip through the process with the touch of a finger.

Writing Wrongs: Editors Help Students Avoid Costly Errors
By: Samuel Martin | 12/10/2007 | Education
College students struggling to write the perfect paper often turn to friends or parents for help in correcting everything from punctuation to syntax errors to misspellings. Chances are, however, that unless Mom and Dad are working for The Washington Post, some things are going to fall through the cracks, and junior may be less than thrilled with his final grade.

New 'diamond' Vodka is a Cut Above the Rest
By: Samuel Martin | 12/10/2007 | Business
You've seen vodka made with vanilla, raspberry and even pepper. But for those with caviar tastes, one company has introduced a new twist: diamonds. New to the premium vodka category is DIAKA (an acronym for "diamond vodka"), which is imported from Poland and filtered with actual diamonds.

Roll-up Bag Irons Out Wrinkle Problem
By: Samuel Martin | 12/10/2007 | Business
Savvy travelers know the trick of rolling their clothes when they pack to reduce wrinkles and save space. This usually works for smaller, casual articles of clothing, such as tops and jeans. But what if you had to pack a suit? And if you are taking a short trip for business, how do you fit your business attire into an overnight bag that you don't have to check?

Give Dad the Gift of Technology
By: Samuel Martin | 12/10/2007 | Business
Dad will always appreciate the dress shirt or cologne that you normally give him for Father's Day. But this year, why not break from tradition and give him an electronic gift that will help him step squarely into the 21st century?

Where to Get a Free Ipod, Find Other Giveaways Online
By: Samuel Martin | 12/10/2007 | Marketing
Since Apple's iPod came onto the scene in 2001, tens of millions of the popular music players have been sold. If you wish to join the mass of iPod devotees, a new one will set you back about $200 or more.

Boating Industry Launches Marketing Campaign
By: Samuel Martin | 12/10/2007 | Marketing
For the first time in U.S. boating history, marine products manufacturers will spend millions of dollars promoting the benefits of recreational boating and boat ownership. The National Marine Manufacturers Association's "Grow Boating" campaign and $12 million marketing blitz includes national advertising buys, direct mail and other initiatives that the industry hopes will connect with potential boaters whose free time is growing more fractionalized.

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below