Money Tree Investing How Credit Impacts Your Daily Life
Rod Griffin shares how credit impacts your daily life! As a consumer education and advocacy expert at Experian, Rod discuss the critical role of credit in financial health, particularly during the holiday season. This conversation covers best practices for managing credit and credit scores, including maintaining low credit utilization, paying bills on time, and understanding credit reports. He also talk tips to avoid holiday overspending.
Today we discuss...
- Rod Griffin, with 27 years at Experian, shares insights into the company's diverse services beyond credit scores, including fraud prevention, identity theft recovery, and automotive history.
- Rod's journey from journalism to consumer advocacy at Experian, highlighting the role of information as a key driver of global economies.
- The importance of using credit as a financial tool during the holiday season to avoid overspending and access better financial opportunities.
- Rod advises on planning and budgeting, including making lists and avoiding impulse purchases, to manage holiday spending effectively.
- Key tips for maintaining strong credit scores include paying bills on time, keeping credit card balances low, and avoiding the myth of needing to carry a balance.
- Using tools like free credit reports and risk factors from credit scores to understand and improve their financial standing.
- How credit scores assess payment history, credit utilization, credit mix, and recent behavior to gauge risk for lenders.
- Consistency in financial habits—such as paying in full and maintaining low utilization—is essential for building good credit over time.
Today's Panelists:
- Kirk Chisholm | Innovative Wealth
- Barbara Friedberg | Barbara Friedberg Personal Finance
- Phil Weiss | Apprise Wealth Management
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For more information, visit the show notes at https://moneytreepodcast.com/credit-impacts-your-daily-life-rod-griffin-668