source : debtconsolidationconnection.comBy Peggy Stillwell on May 7th, 2010
Many consumers may not know what affects their credit score, which may make it difficult for them to teach their children about proper financial management tactics.
According to a survey from ING Direct USA, 46 percent of respondents could identify no more than five of the 10 things that can lower a person's credit score. In fact, only five people of the more than 1,000 surveyed knew all 10 of the negative financial practices.
ING Direct USA chief executive officer Arkadi Kuhlmann said that parents who cannot identify the actions that can reduce a credit score may not be presenting a proper example to their kids.
"Also, parents could be overlooking some significant cost savings like lower interest rates that result by keeping their credit scores in check," Kuhlmann said. ...
According to a survey from ING Direct USA, 46 percent of respondents could identify no more than five of the 10 things that can lower a person's credit score. In fact, only five people of the more than 1,000 surveyed knew all 10 of the negative financial practices.
ING Direct USA chief executive officer Arkadi Kuhlmann said that parents who cannot identify the actions that can reduce a credit score may not be presenting a proper example to their kids.
"Also, parents could be overlooking some significant cost savings like lower interest rates that result by keeping their credit scores in check," Kuhlmann said. ...
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-As students score low in financial literacy, consumer credit counseling may be option for education
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