The Freedom of Financial Security

“I have $80 million in the bank. I don’t have to play football for money.”
These words were uttered by Cincinnati Bengals quarterback Carson Palmer over the summer, expressing unhappiness with his current football team. We’re three weeks into the NFL season, and he has yet to step on the field. While most of us would love to have that sort of financial freedom, being that well-off is a pipe dream at best. However, having financial stability is more attainable than you may think, as a recent post on the FreeScore blog points out.
In “Bad Economy Passes Carson Palmer By; Sacks People With Low Credit Scores,” the credit experts at FreeScore explain the importance of financial security.
The article cites reports showing that Americans save just over five percent of their annual salaries. With the U.S. median at $49,777, that adds up to under $2,000 a year. At that rate, most Americans’ long-term plans resemble a wobbly Hail Mary that would make JaMarcus Russell cringe.
To avoid being sacked financially, relying on your credit scores is key. High credit scores (in the high 700s or better) can help you secure the best rates on credit cards and loans. Lower interest rates mean lower payments, which results in more money in your savings account. If you’re unemployed, having higher scores could help you land a job. Many employers check the credit scores of job applicants to gain insight into their character and judgment.
By visiting and harnessing the Power of 3, you can get all three of your credit scores as well as 24/7 credit monitoring and automatic alerts that help protect you from fraudulent activity and identity theft.
You may never be able to say that you have $80 million in the bank, but with smart saving and information from FreeScore, you’ll be better prepared to walk away from your career at some point in the foreseeable future..