1. Does checking my own credit report affect my credit score?
When shopping for a car, a home, or even applying for a new job, the worst thing that can happen is that you realize there is a mistake on your credit report. It is important to note that your credit report and your credit score are two different things. The credit report is all the information credit reporting agencies have about you while your credit score is the quantitative assessment of that information to rate your likelihood of paying back debt. Therefore, your credit score is based on the content of your credit report. Because employers and lenders use your credit score to judge your character, it is extremely important to check your credit report annually to ensure there are no mistakes and correct errors before they cause you problems. The law entitles you to one free credit report every 12 months from each credit reporting agency (Equifax, TransUnion, and Experian.) Despite common myths, checking your credit report does not affect your credit score. If you identify an error in your report, the Federal Trade Commission has very detailed checklists on how to correct your report.

1. Should I increase my car insurance deductible?
Like any insurance, the higher your deductible, the lower your premiums. But the question is how much of a deductible is reasonable? There are two types of coverages that call for a deductible: comprehensive and collision. Comprehensive coverage protects you from things like theft, natural disasters, and other non-crash related accidents while collision coverage protects you from car accidents. Here is a short list of things to consider when deciding whether to increase your insurance deductible to lower your premiums.