The importance of having a stellar credit is not lost on many people. In fact, it is of paramount concern to most people because there are many financial undertakings that depend largely on their credit worthiness (CW). In this regard, it is equally important to keep track of how your individual finance for purposes of planning for the future and knowing just how secure you and your family are.

Online Credit Report (CR) is made available for people in order to check their personal finances particularly their debt standing in relation to their chances of getting approved for a mortgage or a loan. It is also a convenient way for creditors to verify the CW of potential debtors and thereby providing a speedy processing of loan applications.

Online CR is sanctioned by the law specifically in accordance with the Fair Credit Reporting Act. This will be able to provide pertinent financial information for individuals who are looking into applying for a loan or any other financial undertaking that would require their information on how much they owe.

For many people, online CR is only important when they are trying to secure a loan or trying to buy a house or refinance a mortgage. In a larger sense however, being adept in one's CR will be very helpful in making necessary adjustments in one's lifestyle particularly one's expenditures. It is important to plan ahead and get your account in a much better status than it is today and obtaining online CR can provide the necessary information to do just that.

Not long ago, a New York State College Professor of economics had made an extremely astute comment about the generational divide on fiscal and financial responsibility in noting that those who lived during the depression and for a few decades after thought of money much different than the current younger generation now.

Indeed, most would concur and even I tend to agree very much that after the depression people were more frugal, saved more money and handled their financial affairs with greater responsibility. We are now watching the shifting demographics and those who grew up in the depression are the middle to older baby boomers, and it appears the underling generations did not learn that lesson very well. That's too bad.

Very concerned with the credit card issues, as folks are paying interest the wrong way, instead of allowing it to work for them they are paying often in excess of 18% the wrong way. That is unsustainable over time, as compounded interest and growth can be your best friend, but in reverse; it's economic enslavement indeed.

Fact is, I wonder if our college professor has noticed at his college that credit card applications show up around campus? I can remember giving speeches on business topics and seeing credit card applications lying around with promises of free-gifts for kids that sign up.

As I understand it the average graduate has in excess of $10K in credit card debt - I bet he could verify that figure, and if so, that's just disgusting really? Of course, as a Friedman economist type myself, they were free to choose, too bad they made such horrible choices? Please use credit wisely, value money, save, and consider all this.