10 Rules of Smart Credit Management

As I have written about...I am looking at what I owe and attempting to pay it back as soon as possible. I have healthy debt...but any debt is not good. What's ironic is that for the past month I have been making payment schedules, etc....and this evening in my emailbox...I get an email from the people who manage my school loans and it is an e-newsletter on debt management.

The main topic of this newsletter was the 10 rules of managing debt, so I thought I would share their words of wisdom.

Being responsible with your credit and your finances saves you money.

* Know what you owe.
* Live within your means.
* Borrow only what you can afford.
* Maintain a good credit rating.
* Check your credit report annually.
* Use credit wisely.
* Recognize the warning signs of financial difficulty.
* Know a scam when you see one.
* Guard against identity theft.
* Treat bankruptcy as a last resort.

If you would like the in depth explanations of all their debt management tips...click here and read the whole article. I am happy to report that I am living by most, if not all, if these rules. I know that you have to know your debt because denial and ignorance doesn't get you anything...but more debt and losing more money. And...I am lucky that I have really good credit (well...lucky meaning I worked really hard for it). I have always known that going to grad school was going to cost me....and that I would be paying back educational debt for a long time...but I am glad to see a glimmer of light at the end of the tunnel.