- Death of a spouse.
- Health issue.
- Work-life issue (job loss, restructure, retirement, etc).
- New event (new home purchase, new baby, relocating to new area, etc).
- Do I have my spouse insured for at least five times the income he brings home?
- Do I know what our credit scores are together and separate? And for that matter, do I understand what story my score is telling?
- Do I have a doctor that I visit regularly and that I can openly speak with about my life? Do I encourage my spouse to be the same way with his health and wellness?
- Do I continually stay educated on my industry and the economy around me? If economic change occurred, do I have a back-up plan?
- Do I embrace change? If not, how can I begin a journey to learn how to?
1. Find your debt to income ratio.
2. Know your credit score.
3. Use credit and your credit cards properly.
Credit cards and cellular phone bills are the easiest way to wreck your credit. And bad credit is the number one problem that follows us from college into the years when our spending potential is at its peak. Manage your risks by educating your children too so that you can break the cycle for them right now! We learn our spending habits from our parents. Make cents for them by showing sense in your budget and your credit habits.
“Luck? I don't know anything about luck. I've never banked on it, and I'm afraid of people who do. Luck to me is something else: Hard work -- and realizing what is opportunity and what isn't.” – Lucille Ball
4. Consider this, too.
Three credit vendors you need to have on speed dial:
- Transunion 1-800-916-8800
- Experian 1-888-397-3742
- Equifax 1-888-766-0008
5. Protect your assets.
Home CEO™ Anita DaSilva is the owner of Anita DaSilva State Farm agency, headquartered in Bergen County, NJ. As a successful female entrepreneur in the insurance industry for over a decade, Anita has helped clients nationwide properly insure their life and assets. Politically and socially aware and active, Anita volunteers in her community and serves on several professional boards. For more information on financial resources and financial advice, you may contact Anita here.