Building your credit can unlock possibilities and save you money. It’ll help you qualify for loans and credit cards at lower interest rates, and you might get a break on your car insurance rate or avoid deposits on utilities.
But be strategic about the approach you pick. Taking on high-cost debt to improve your credit can leave you in a worse place than where you started.
GreenPath was born as a budgeting and financial education service out of the Michigan Credit Union League in 1961. A decade later, it was already expanding into other states, and today, it has offices in 18 states, at 60 different locations, with more than 450 employees. Although founded to help people through financial crises, the nonprofit has expanded its focus to help people achieve their financial goals
How much do you owe on your credit card and can you pay it off?
Mary Perez/The Sun Herald (Gulfport, Mississippi)
22 January 2017
Even before Christmas, Americans went on a spending spree, adding a record $21.9 billion in credit card debt in just three months from July through September.
Then we each charged $1,000 more in holiday spending, according to consumer financial-education website Magnify Money, and are starting 2017 with more debt than some can ever pay.
During the national recession, people cut spending, started saving and paid down their credit cards.
'Tis the Season to Pay off Credit Card Debt
Alese Underwood/Time Warner Cable News (San Antonio)
29 December 2016
Paying off all that credit card debt from the holidays might be a little harder than you think in 2017. Our Alese Underwood shows us how an interest rate hike could damage your credit score if you're not careful.
SAN ANTONIO -- As holiday spending winds down, tis' the season to pay off your credit cards, but it might cost you a little extra in 2017.
"The average American has about nine credit cards in their wallet at any given time," said Federico Pena with GreenPath Financial Wellness.
How much is too much for a car payment?
Susan Tompor/Detroit Free Press
19 January 2017
- Counselors at GreenPath say aim to spend 15% of income on transportation, including car insurance.
- About 40.7% of new car loans are in the 61 month to 72 month range, Experian says.
- Payments on a $20,000, five-year car loan would be about $371 a month with a 4.3% rate.
New Contracts Across Metro-Detroit
Crain's Detroit Business
15 January 2017
Asset Health Inc., Troy, a health and wellness consulting, managing and technology firm, and GreenPath Inc., dba GreenPath Financial Wellness, Farmington Hills, a nonprofit financial counseling and education organization, are launching Asset Health-GreenPath Financial Wellbeing Services.
Setting financial goals in 2017
Mark Huffman/Consumer Affairs
12 January 2017
It's still not too late to make a New Year's resolution, and if you are hoping to get ahead financially in 2017, resolving to get a handle on your finances is a very worthy goal.
GreenPath Financial Wellness, a non-profit credit counseling and education organization, says a good way to start is to stop and think about what went right financially in 2016.
Financial Talk Offered at Patterson Library
The Courier, Cold Spring, NY
12 January 2017
The Patterson Library, 1167 Rte. 311 Patterson, will present “Steps to Financial Freedom” on Tuesday, January 17 at 1:00 PM. Chris Dlugozima from GreenPath Financial Wellness will show you how to improve your budget and credit to help you reach your financial goals. Topics will include credit reports, debt management, money management, investing and retirement.
How can my partner and I meld our money habits?
Brianna McGurran/Christian Science Monitor via NerdWallet/Associated Press
11 December 2016
(“Ask Brianna” is a Q&A column for 20-somethings or anyone else starting out. I’m here to help you manage your money, find a job and pay off student loans — all the real-world stuff no one taught us how to do in college.)
This week’s question: “I’m pretty frugal, but my partner is a big spender. How can we get on the same page?”