GALLIPOLIS — October is time for spooky thoughts of Halloween. While ghosts and goblins might give you a fright, don’t let your finances give you nightmares, too.
Credit doesn’t have to be scary. To equip youth with a better understanding of credit, the American Bankers Association is hosting “Get Smart About Credit Day” this month.
Once again, Ohio Valley Bank plans to participate in the program.
The 14th annual event will be celebrated Oct. 20, but the American Bankers Association encourages participants to host “Get Smart About Credit” presentations throughout the entirety of October, as well as anytime in 2016.
To celebrate the event, OVB will be working credit lessons into their financial education programs. At the high school level, “Get Smart About Credit” will be incorporated into the OVB BANKit program.
In addition, “Adventures in Credit” presentations, featuring the Centsables, are planned for area elementary schools. Ohio Valley Bank is also offering a smart, limited-time offer on new Visa Platinum credit cards. Details on the offer are available at any Ohio Valley Bank location.
The main goal of “Get Smart About Credit” is to share with students the “credit facts of life.” According to the American Bankers Association, the event stresses the importance of credit in all aspects of life. The campaign aims to show students that credit education isn’t just about paying for college, credit cards and loans, but also encompasses budgeting, understanding a credit report and identity protection.
What can you do to raise your credit score? Check out the following tips:
- Take advantage of your annual free credit report. You should have your credit checked once a year to review for errors or inaccuracies. Visit annualcreditreport.com for more information.
- Pay your credit card bill on time. Also, pay your bills in full if you are able to do so.
- Set and stick with a budget. Adhering to a spending plan is really your first step to financial freedom. By following a budget and saving money you will be less likely to overspend on credit cards, which will also help you save on added fees such as interest costs.
- Watch for warning signs of credit trouble. For example, if you find yourself continually making late payments, are only able to pay the minimum each month, or find yourself using credit for every day expenses, you’re already in trouble.
- Think before you buy. Do not pay for things using credit without thinking about how it could affect your budget first. Make sure you will have the means to make payments on your purchase before you swipe your credit card.
For more information on Get Smart about Credit or to schedule a presentation for your school/event, contact OVB Financial Literacy Leader Hope Roush at [email protected]