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One of the best ways to fight bad credit and debt is education
By Adam | November 6, 2006
Hello-
This article addresses one of the best ways to fight off having bad credit or getting yourself deep into debt and that is education. Educate yourself all about personal finance and credit and how to fight an incorrect credit report or how to improve your credit score.
There are tons of free resources out there showing how to do this. You just have to take time away from watching TV or reading the gossip columns to do it. And that mean be the hardest part. It takes work. But, if you make a small sacrifice now, especially if you’re young, you’ll have this ‘credit’ education with you for the rest of your life and that will earn and save you much more than any celebrity news article will.
-Adam
Here’s a summary of the article:
In about a year, James Washington will graduate from the University of Pittsburgh with a double major in urban studies and political science and a “hole” of credit card debt.
Washington, 21, is from North Philadelphia, an economically distressed community, where he learned little about preparing financially for the future.
When it comes to money, he said, “There is so much information I don’t know.”
That’s why he was hoping to get financially educated along with scores of people looking to repair their credit rating, find resources for home-buying and look at how to invest.
Last week, Pittsburgh was the first of four planned stops in the national Urban League’s Economic Empowerment Tour.
Titled “You, Your Money, Your Future,” the one-day event was held at Carnegie Mellon University.
According to Marc Morial, president of the national group, blacks in America have made great strides in politics, business and education since the civil rights gains of the 1960s, but there remains a long way to go.
In annual income, blacks continued to fall behind whites by roughly $20,000 a year — $30,858 vs. $50,784 — which means blacks made only 60 percent of what whites did in 2005, compared with 51 percent in 1967.
This generation, said Morial, must fight for financial independence and economic prosperity by pushing for better jobs, increased home ownership, greater entrepreneurship and enhanced financial literacy.
“This has more to do with our own individual efforts, which is our only hope if we want to close the remaining gaps between minorities and whites,” he said.
Besides Pittsburgh, the tour will visit Houston, St. Louis and New York.
“We hope (the conference) will drive up interest in the extremely important issues of home ownership and preservation,” said Esther Bush, head of the Pittsburgh Urban League.
Group fills education gap (Akron Beacon Journal)
In about a year, James Washington will graduate from the University of Pittsburgh with a double major in urban studies and political science and a “hole” of credit card debt.
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