Financial Literacy Month – Tip 19

Document The Facts 

The last few tips have been to gather statements, highlight interest rates, call creditors to negotiate lower rates and now it is time to document the facts. 

Grab a piece of paper and write down the following:

• Account name (e.g., Chase Visa, Macy’s, Target, etc)
• Balance
• Interest Rate
• Minimum Payment
• Actual Payment

Knowing where you stand with overall payments will help build a budget and eliminate costly credit one creditor at a time.