Find the Social Solution to Better Credit

Whether you run a business or work for one, your finances are likely your top priority from day to day.

For the former, running a company takes intestinal fortitude and many other things.

If you’re good when it comes to overseeing money, your business can turn out to be quite successful. On the flip side, if handling and dispersing funds is not your strong suit, you could find yourself one of many small businesses that ultimately go under.

For those individuals not running a business but working hard to stay ahead financially, their credit history can go a long way in determining if they have money while they’re working and ultimately when their working days are behind them.

So, how can you take advantage of all social media has to offer when it comes to learning how to manage your finances and more importantly, acquire and maintain a competitive credit score?

Educate Yourself on Finances

Face it; while many people claim to be financial gurus, those who truly are tend to be few and far between.

The key to properly running a small business and/or managing one’s own finances oftentimes boils down to education.

A prime example of this is one’s credit history.

Companies such as CreditSesame.com can help you with financial information pertaining to your monthly credit score, reviews of your entire credit and loan portfolios and much more. By using these kinds of companies, you have a better idea of where your credit profile stands and what you may need to do to improve on it.

Unless you live in a world where you never plan to buy a car, a home, take out a loan etc., your credit score and its history do in fact matter. As all too many people have discovered, a bad credit score can prohibit them from making key purchases in their lives.

This is where social media can play a major role in helping folks improve their financial standing in the eyes of banks, credit unions, loan providers, credit card companies and more.

Among the various ways to use social media for a better financial education:

Educate yourself on credit cards – For starters, don’t be applying for multiple credit cards if you’re not very good at handling money. The truth is that paying for items hurts more when you use your own cash than a piece of plastic. Credit cards should be used more for bigger ticket items such as car repairs, purchases for a small business like computers and printers, and trips (that doesn’t mean you should be jet-setting around the world and running up a big credit card tab). Visit various financial sites and their Facebook and Twitter pages to learn how to use credit wisely;
Learn about identity theft – With the usage of credit cards unfortunately comes fraud and identity theft. Turn to social media pages from financial sites again (along with the media and law enforcement) to learn about credit card scams and more. Federal, state and local agencies will oftentimes turn to their social media pages to alert the public when a credit card/identity theft scam is underway. An educated consumer is much less likely to become a victim than someone who pays little or no attention to what is going on in the world.

Use social media to educate yourself on credit history, credit scores, credit card fraud and more whether you run a small business or not.

When you’re better educated, you stand to take credit for being a better individual when it comes to finances.

[image error]