Week #2 Challenge

This week is the week to "Get Your Head Out of the Clouds". This is a 2 part challenge. It is important to know just how much debt you have. This is the start of changing your financial life. So let's get started.......

This week I would like for you to first, check your credit report/profile. This is a simple task, but very important. Your credit score affects the interest rates you receive on credit cards and other items. It is now used to determine health insurance premiums, rental rates and employment. You should always check your credit report at least once a year. Check for errors and all negative impacts on your credit report. If you see something incorrect on your credit report, don't be afraid of filing a dispute form.

You may check your credit report once a year, from each credit reporting agency and when you are denied credit free of charge. Along with your credit profile, it will give you suggestions on how to improve your credit profile.

You may want to check your credit FICO score once a year as well. This is not free, but will normally cost you $10.00 to $20.00 dollars. However, now if you are denied credit you may receive your credit score for free.

So go to www.annualcreditreport.com and sign up to receive your credit profile. If you are asked for a credit card you are at the wrong site.

Secondly, I need you to write down ALL of your debt. I mean everything. List all of your credit card debt, amount you owe family members, student loans, etc.......... After you do this, hold on to it for next week's challenge.

Okay, let's get busy!