TidBits - May 2007

Talk To Your Parents

Many of us are fortunate enough to still have our parents with us. If you haven’t ever talked to your parents about their estate plan, it’s never too late to start. Even though talk of money is considered taboo in many families, you might be surprised at how an open conversation about financial situations can bring you closer to your parents – and ease their minds about some sticky decisions that they need help with.

Credit Reports

If you don’t already do this, it’s a good idea to get a copy of your credit report from each of the three credit-reporting agencies once a year. It’s moderately easy to do, by going to www.annualcreditreport.com. Doing so will allow you to ensure that you don’t have any “extra” accounts on your record, or any mistakes with regard to your payment history. Staying current with your credit information will make applying for that mortgage or home equity loan a lot less stressful with no surprises. Be careful that you don’t sign up for any of the “credit watch” or “credit monitoring” services – these are almost always very costly services for the minimal benefits that they provide.