How Credit Impacts Your Daily Life

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 13 December 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Rod Griffin shares how credit impacts your daily life! As a consumer education and advocacy expert at Experian, Rod discuss the critical role of credit in financial health, particularly during the holiday season. This conversation covers best practices for managing credit and credit scores, including maintaining low credit utilization, paying bills on time, and understanding credit reports. He also talk tips to avoid holiday overspending.

Today we discuss...

Rod Griffin, with 27 years at Experian, shares insights into the company's diverse services beyond credit scores, including fraud prevention, identity theft recovery, and automotive history.
Rod's journey from journalism to consumer advocacy at Experian, highlighting the role of information as a key driver of global economies.
The importance of using credit as a financial tool during the holiday season to avoid overspending and access better financial opportunities.
Rod advises on planning and budgeting, including making lists and avoiding impulse purchases, to manage holiday spending effectively.
Key tips for maintaining strong credit scores include paying bills on time, keeping credit card balances low, and avoiding the myth of needing to carry a balance.
Using tools like free credit reports and risk factors from credit scores to understand and improve their financial standing.
How credit scores assess payment history, credit utilization, credit mix, and recent behavior to gauge risk for lenders.
Consistency in financial habits—such as paying in full and maintaining low utilization—is essential for building good credit over time.

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Barbara Friedberg | Barbara Friedberg Personal Finance
Phil Weiss | Apprise Wealth Management

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For more information, visit the show notes at https://moneytreepodcast.com/credit-impacts-your-daily-life-rod-griffin-668

Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.8	Stock market, wealth, personal finance, value stocks, invest in your life.
0:11.2	Hello, Smart Money Tree podcast listeners.
0:13.0	Welcome to this week's show.
0:14.0	My name's Kirk Chisholm and I'll be your host.
0:16.1	So today I'm joined with Rod Griffin.
0:17.9	How you doing today, Rod?
0:18.8	Hey, Kirk.
0:19.3	How are you?
0:19.8	Doing great.
0:20.3	So brought Rod on the show as we're into the holiday season,
0:24.2	wanted to get some insight here. So Rod, tell us a bit about your background before we get into things.
0:29.1	I lead experience consumer education and advocacy programs in our corporate group.
0:34.4	Been with the company 27 years. So when I started, you know, now you're seeing
0:38.7	me in the image. I have lots of gray hair and didn't have that when I started. But I've
0:44.0	learned a lot along the way. My role is about helping people understand what experience is what we
0:50.0	do. Typically, we talk about credit reports and credit scores because that's what people know us
0:55.0	for, but we're much more than that. As a company, we work in fraud and identity theft and
1:02.5	prevention, detection, recovery. We have an automotive history business that competes with that
1:08.4	one that we all kind of know from the commercials. Actually,
1:11.9	the National Dealer Association preferred provider. We have direct marketing businesses. We have
1:18.0	all sorts of identity verification and information services. So we're the world's largest
	...

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