Wall Street is in fear and panic. The stock market is in turmoil and stock prices are dropping like rock thrown from the Empire State Building. Don’t follow those who sell in panic. If you have a few years until retirement, wait it out. You cannot control the events on Wall Street anyway. If you have junk stocks, sell ‘em, but if you hold fonds or high quality stocks – keep ‘em. They’re down due to the market, not because all the companies are going down hill.
Rather work on improving your credit score. Clean up your credit history and reduce the amount of debt that you have. In times like these it is important that your credit score is as high as possible. Too many things affecting your life depend on the credit score – as sad as it is. Let’s take your car insurance. Rates depend on how motorists in your area do in regards to claims and damages + it depends on your own profile (age, gender, driving history, and … credit score). A higher credit score means effectively lower car insurance payments.
So, step away from the TV, turn off CNN, MSNBC, FoxNews, or whatever you are watching that scares your financial security. Pull your free credit report and receive your free credit score, too. Then review the complimentary credit report analysis provided and clean up your credit report.
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