Developing a deeper knowledge of financial management techniques helps to qualify a person for a career in banking, the insurance industry and in investment and brokerage firms. Someone already working in the financial world as an accountant, a loan officer or an analyst may move into a position with more managerial responsibility and compensation. International companies need people to write detailed financial reports and oversee complex investments. Any business that practices diversification will be in need of a financial management team.
For instance, your credit reports will list a mortgage loan that you are still paying off as open, including the loan’s current balance, the date you took out the loan and the lender behind the loan. Reports will also list whether you have any late or missed payments on this loan and will list whether the loan is open — meaning you are still paying it off; closed — you’ve finishing paying off the mortgage; or in foreclosure.
Ever been denied a job because of your credit? No? Well I have. It was embarrassing and I had to do something about it. I started my search for a credit repair program and found the “850Mindset Club”. With this program I was able to first off learn about what is credit: the do’s and don’ts. I learned how to read credit reports and learned what credit companies doesn’t want us to know. With the “850Mindset Club” Membership Annual the knowledge I’ve gained has set me to higher standards and put me in charge of my OWN future. Utilizing this program I have already began to see a change in my credit score, it feels so good. It’s just that EASY. This is a proven system that works. Try it for yourself, you’ll be glad you did.
These colleges offer free, non-credit online courses and lessons in financial management. These tutorials and lectures can introduce you to financial management or act as a study guide if you're currently enrolled in a finance program. In general, you'll need a video player and PDF reader to access materials, and some classes require Microsoft Excel. Neither of these colleges awards credit for completing a free online course, and no active participation is required.
That’s why it’s so important to make sure that the information on your credit reports is accurate. A single mistake on these reports could send your credit score tumbling — and errors aren’t as uncommon as you might think. In fact, a report by the Federal Trade Commission in 2012 found that 26% of participants in a study found at least one potential error on their credit reports. That same study found that 5.2% of the participants who corrected these mistakes saw their credit scores increase enough so that they would be more likely to nab a lower interest rate on a loan.
If you have impossibly high interest on those credit cards, then do cancel them. It doesn’t help to have open credit cards if the interest rate makes it nearly impossible for you to get the balance down. In fact, banks currently have hardship programs, where they will reduce your interest rate TO ZERO if you agree that they will cancel your cards. Yes, you wll take an immediate hit on your credit score, but that will quickly improve as you pay down your credit cards, which you can now do because you don’t have those usurious interest rates to pay.
You don’t have to earn a perfect credit score of 850 to be considered successful or qualify for the lowest interest on loans. A more optimal credit score to work toward is 760. Anyone with a score of 760 and above will likely get desirable rates offered by lenders. A history of credit, on-time payments and decreasing the amount you owe will help you work toward this goal.
Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.