Change is inherent in life; just when we get comfortable and settle into some sort of a routine, we are faced with some sort of a change and everything is topsy turvy again. The very best that we can do is go along for the ride and try to adjust as best we can. Of course the change that we face in our life is sure to affect different areas of our day to day operations and in many cases we are affected financially. Absolutely anything can have an impact on our current financial status – marriage, divorce, a death, a birth, a change in career, a loss of a job, and so forth. We try to keep pace with the madness by making sure that we are in the best position possible – adjusting our insurance policies, controlling our spending, and making those changes that will enable us to ride through these times in our life with financial dignity.

This is the plan. But of course, as we all well know, the plan and the reality are often too different things. Any change in life leaves us vulnerable to a host of financial difficulties and being even the slightest bit unprepared can launch us into an avalanche of problems that simply snowball if left unchecked. Credit cards are taken out and used when perhaps they had been previously kept at bay, savings and investment accounts are accessed, payments are made late and more and more bills become due; the cycle is enough to put any of us under water. And ultimately what this can mean to our credit report can be disastrous.

Because our credit report is so crucial to our financial health it is imperative that we know what is on that report and how we can make changes to improve our situation. To this end, we need to begin with the gathering of free credit reports.

In the next post, we’ll discuss how free credit reports can be the first step in regaining a solid financial footing after a significant life change.

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