For many, December means spending lots of money on presents, food, travel, and other things to get you through the end of the year. And after we stretch our wallets, January’s often for taking stock and planning for the year to come.
If that’s true for you, here are some things to hopefully save you time as you transition from holiday festivities to financial goals in the New Year.
Are you:
- Trying to stay on top of your credit? Check your credit reports to make sure there’s nothing on there you don’t recognize. (If there is, it could be a sign of identity theft.) And if your credit’s not what you’d like it to be, take steps to improve it.
- Saving for something big, or wanting to build more of a nest egg? Here’s a budget worksheet to track how much you’re taking in and how much you’re spending.
- Wanting to tackle your debt? Learn about steps to take yourself, how to get help, and what to know if you’re getting calls from debt collectors.
Looking for more? The FTC’s consumer.gov site has tools to help you in the New Year and beyond. Get the basics on these and other topics like avoiding scams and identity theft at consumer.gov in English, Spanish, Chinese (Simplified), Korean, and Vietnamese. You’ll also find videos and free, one-page handouts to share in your community.
For more information, click here.
Teaching Suggestions:
- Ask students to get their free credit reports from Equifax, Experian, and TransUnion, and sign up for free credit monitoring with Credit Sesame or Credit Karma.
- Ask students to list the main steps in creating a budget. What are commonly recommended qualities of a successful budget?
Discussion Questions:
- Why is it important to check your credit reports regularly?
- What are the most frequent reasons for indebtedness?
- What are common danger signals of potential debt problems?
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