{"id":1366,"date":"2017-03-02T23:11:06","date_gmt":"2017-03-03T07:11:06","guid":{"rendered":"https:\/\/www.workparentsleep.com\/?p=1366"},"modified":"2021-04-27T08:59:31","modified_gmt":"2021-04-27T16:59:31","slug":"credit-and-debt-guide-part-1-owning-your-credit-and-debt","status":"publish","type":"post","link":"https:\/\/workparentsleep.com\/credit-and-debt-guide-part-1-owning-your-credit-and-debt\/","title":{"rendered":"A Credit and Debt Guide: Part 1 &#8211; Owning Your Credit and Debt"},"content":{"rendered":"<p>Over the years I have put together a laundry list of do&#8217;s and don&#8217;ts for achieving financial freedom; I have compiled these into an 8-part series called &#8220;A Credit and Debt Guide for Parents.&#8221; \u00a0Based on these tips and tricks I have managed to pay off my college loans entirely, manage my finances in a way that allows me to not miss payments and tackle my credit card debt, and raise my credit score from around a 678 in college to a whopping 829 as of Feb 26, 2017.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-1374\" src=\"https:\/\/workparentsleep.com\/wp-content\/uploads\/2017\/02\/financial-guide-for-parents-credit-score-01.jpg\" alt=\"Financial Guide for Parents - Credit Score\" width=\"612\" height=\"278\" srcset=\"https:\/\/workparentsleep.com\/wp-content\/uploads\/2017\/02\/financial-guide-for-parents-credit-score-01.jpg 612w, https:\/\/workparentsleep.com\/wp-content\/uploads\/2017\/02\/financial-guide-for-parents-credit-score-01-300x136.jpg 300w, https:\/\/workparentsleep.com\/wp-content\/uploads\/2017\/02\/financial-guide-for-parents-credit-score-01-585x266.jpg 585w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h1 style=\"text-align: center;\"><span style=\"color: #29abe2; font-size: 48px; font-family: open-sans-regular;\">KEEPING IT SIMPLE<\/span><\/h1>\n<p>&nbsp;<\/p>\n<h1><span style=\"font-size: 28px;\">Introduction to a Credit and Debt Guide for Parents<\/span><\/h1>\n<p>Whether you are paying off debts, starting your first savings account, or well on your way to financial stability, you can never have too much knowledge on credit and debt.\u00a0 Here are the links to my 8-part series &#8220;A Credit and Debt Guide for Parents&#8221;:<\/p>\n<p style=\"padding-left: 30px;\"><a href=\"https:\/\/workparentsleep.com\/credit-and-debt-guide-part-1-owning-your-credit-and-debt\/\"><strong>Part 1:<\/strong> Introduction to Owning Your Credit and Debt<\/a><br \/>\n<a href=\"https:\/\/workparentsleep.com\/credit-debt-guide-part-2-how-credit-cards-work\/\"><strong>Part 2:<\/strong> How Credit Cards Work?<br \/>\n<\/a>Part 3: Building Your Credit\u00a0<span style=\"color: #ff0000;\">(COMING SOON!)<\/span><br \/>\nPart 4: 0% APR Credit Card Promotions to the Rescue <span style=\"color: #ff0000;\">(COMING SOON!)<\/span><br \/>\nPart 5: How Do I Get Out of Debt?\u00a0<span style=\"color: #ff0000;\">(COMING SOON!)<\/span><br \/>\nPart 6: Managing Your Money and Bills\u00a0<span style=\"color: #ff0000;\">(COMING SOON!)<\/span><br \/>\nPart 7: Understanding Your Credit Score\u00a0<span style=\"color: #ff0000;\">(COMING SOON!)<\/span><br \/>\nPart 8: How to Make Credit Cards Work for You\u00a0<span style=\"color: #ff0000;\">(COMING SOON!)<\/span><\/p>\n<p>Nerd wallet put together some interesting analyses, based on data from the Federal Reserve Bank of New York and the U.S. Census Bureau, and determined that in 2016 <a href=\"https:\/\/www.nerdwallet.com\/blog\/average-credit-card-debt-household\/\" target=\"_blank\" rel=\"noopener\">the average American household is carrying a whopping $16,061 in CC debt and $49,042 in student loans. \u00a0<\/a>When you are looking through your personal accounts, those numbers\u00a0can be quite alarming and might seem like an impossible hill to climb with all of the other bills and expenses on your plate.<\/p>\n<h2>When it comes to credit card debt\u00a0remember that\u00a0<strong>you are not alone!\u00a0<\/strong><\/h2>\n<p>Credit card debt can be a downhill spiral of climbing interest rates, late fees, and penalties. \u00a0Standing at the base looking up at any sized mountain of debt can intimidate even the sturdiest financial guru, but the one thing I can promise you is taking the first step toward climbing it makes the mountain one foot smaller.<\/p>\n<p>We hope that this series\u00a0can serve as a comprehensive guide to understanding your credit and debt, and help you as a parent maintain your footing and rise to the challenge of providing stability for your family and loved ones (<em>and maybe have some fun along the way<\/em>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the years I have put together a laundry list of do&#8217;s and don&#8217;ts for achieving financial freedom; I have compiled these into an&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1367,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[62,4],"tags":[91],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Credit and Debt Guide: Part 1 - Owning Your Credit and Debt<\/title>\n<meta name=\"description\" content=\"We&#039;ve created a credit and debt guide for parents to boost their &quot;Financial IQ&quot; and help tackle everyday finances and credit card debt.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/workparentsleep.com\/credit-and-debt-guide-part-1-owning-your-credit-and-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Credit and Debt Guide: Part 1 - Owning Your Credit and Debt\" \/>\n<meta property=\"og:description\" content=\"We&#039;ve created a credit and debt guide for parents to boost their &quot;Financial IQ&quot; 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