What is a credit report?

What is a credit report?

A credit report is a summary of your financial reliability for the most part, your history of paying debts and other bills. Itis prepared by credit bureaus primarily for use by lenders, employers and others who, under the federal Fair Credit Reporting Act, have a legitimate need for the information.

The wealth of information gathered by credit bureaus, coupled with the speed of today's computer systems, explains why consumers can quickly get loans and other services, like free fico scores including approvals of certain credit applications in minutes.

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Personal Finannce Books

Try these three - all are regarded as classics and live on through
multiple editions:

The Only Investment Guide You'll Ever Need - Andrew Tobias - title is
only a slight overstatement, but this is an easy read, it's funny - he's
kind of the David Sedaris of personal finance if that means anything.

A Random Walk Down Wall Street - Burton Malkiel - not really a personal
finance book but a great overview on investing and what the stock market
(and markets generally) are all about.

Common Sense on Mutual Funds - John Bogle - or one of his other books
since - you'll probably invest using mutual funds and could do so your
entire life. This is a great introduction to the concept of index funds
and their long-term advantages.

A lot of financial planning involves topics other than investing
(insurance, credit and debt management, taxes) so if that's your
interest a more general book would be better. Maybe something like Eric
Tyson's "Dummies" book on the topic.

Also the Wall St Journal puts out a bunch of slim paperbacks on these
topics, they're really good references and well laid out.

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