Today’s City Hall Meeting: My Topic 2 of 3–Credit Reports

Posted on July 24, 2008. Filed under: -- On MY Calendar, -- Uncategorized, -- What MOLLY's Up To, . More Resources For YOU! | Tags: , , , |

By Molly Malone

Hopefully you read and liked topic #1.  Topic number 2 was on Credit Reports.

Here’s a summary: 

It’s no doubt that most people, even some of us in Central Texas, are feeling the effects of the economy. Some blame the financial institutes, some blame Ben Bernanke, and some blame Bush. Regardless of who it is, everyone’s got someone to blame but themselves.

I see what’s going on as a huge problem, but one that can be solved at the ROOT CAUSE, which can get started right here in Austin, by making sure our residents are as prepared and educated about their credit scores as they are for hurricanes and fire evacuations. I’m being dead serious.

I truly believe that it is IMPERATIVE for people (everyone) to know their score. It’s the single bit of advice that can have the BIGGEST impact on turning around someone’s financial situation. You have to know your FICO score. Every decision you make for the rest of your life revolves around and is linked to your score. It’s like a siamese-twin you can’t escape.

We are all entiteld to a free credit REPORT annually from but what good is a report without a score? That’s where big business comes in and starts charging the consumer for things we sort of should already be entitled to. I believe that’s where the city can step in. 

I truly believe that the city is capable of negotiating very reduced rates for it’s citizens and should launch a “Know Your Score” campaign or something just to get people charged up. Nationally, we’ve got January, which is National Braille Literacy Month, National Hobby Month and Hot Tea Month. Then February, which has Black History Month, followed by March with Women’s History Month History, so why not have a “Know Your Score” month in April, even just in Austin?

History is said to repeat itself and if people get their scores today, hopefully they change the way things happen tomorrow. 

I also added how the city has all sorts of programs and classes that they already offer the public, and stressed the value-add for something like this. I’m talking about digging deep and tracking progress, running comparative numbers, etc. I want to make that number as tangible as possible. I would volunteer if they needed help, hell yea. People would leave the class standing a little taller, probably seeing more light at the end of the tunnel, but also leave having the power and the tools to improve their score, ultimately having the power to change their own lives and their purchasing power.  All of which is good news for them and the City of Austin.

Read Full Post | Make a Comment ( 6 so far )

  • Blog Stats

    • 341,978 hits
  • I'm glad you found my blog. I hope you enjoy it!

  • Flickr Photos

  • Enter your email address to follow this blog and receive notifications of new posts by email.

  • December 2019
    M T W T F S S
    « Jun    

Liked it here?
Why not try sites on the blogroll...