When you buy a house, a car or even a cellphone, lenders start their evaluation of you as a buyer with one thing: a credit score. 

Your credit score is what banks and other lenders use to assess your ability to pay back a loan. Low scores such as 300 indicate bad credit, while 850 is the highest and most beneficial score. 

Since 90% of Americans have a credit score and lenders rely on it to loan money, it's important to keep an eye on yours. March is National Credit Education Month, with an emphasis on spending a few minutes each day to learn more about credit, how it can work for you, and how to be safe with your credit information such as credit score and credit report. 

The best place to begin is to request a copy of your credit report, which includes the following: 

• Bill payment history
• Loans
• Current debt
• Bankruptcy history
• Lawsuit records

Lenders examine this information, in addition to your credit score, when considering a loan application. Your credit score also can be used in some states to evaluate housing applications, set interest rates for credit cards and determine auto insurance rates.

To learn more about your credit score and how to get a free credit report, view the Credit Report webpage. 

Learn by Livestream

Whether you're interested in saving for retirement or other financial matters, Fidelity and TIAA can help. Both offer several live and on-demand events each month about a variety of topics. These online events are free and take place on Eastern Time. March events include: 

Fidelity

Fidelity will offer three "Women Talk Money" events in March. Click on each event to get more information and register. 

Creating Space for Success – Boundaries & Balance
Wednesday, March 11 – 2-2:45 p.m.
Special Guest: Mindy Kaling, writer, producer, author, director, and actor

Financial Power-up: Make Your Next Money Move Count
Wednesday, March 18 – 2-2:45 p.m.

Share the Wealth – How to Grow Your Career and Community
Special Guest: Shonda Rhimes, writer, producer and CEO of Shondaland 
Wednesday, March 25 – 2-2:45 p.m.

Artificial Intelligence: How AI is Reshaping Industries
Wednesday, March 18 – noon-1 p.m.

Artificial intelligence has moved from clever chatbots to an economic force reshaping industries, markets and global competition. During this webinar, discussion will include the history of AI, from the infrastructure supercycle to those who benefit and the risks across the value chain.

To view more educational events, go to the Fidelity Special Events Learning Center web page. 

TIAA

Your Guide to Living Well in Retirement
Wednesday, March 11 – 11-11:30 a.m.

Retirement can be a major life transition. During this webinar, the human factors that can help you thrive during this new chapter will be addressed. Topics will include:

• Find your purpose
• Stay physically, mentally and emotionally healthy
• Create community to stay connected 

Understanding Required Minimum Distributions (RMD)
Thursday, March 26 – noon-12:30 p.m.

If you've saved in a traditional IRA or workplace retirement plan, RMDs are a key part of your income strategy. This webinar will help simplify the rules and timelines around RMDs so you can stay on track and avoid unnecessary penalties.

During this webinar, you'll learn: 

• What RMDs are and when they apply
• How to calculate and take your distributions
• Strategies to minimize taxes and avoid costly mistakes
• Ways to keep your money working for you

TIAA also offers a curated library of on-demand webinars that address three main subjects: 

• Save for your goals
• Manage your finances
• Protect your future

To explore TIAA's webinar library, go to the TIAA Webinars web page. 

Check In to Check Out

Events are great ways to increase your financial knowledge, but they can't replace personal connection with your TIAA or Fidelity retirement specialist. You can meet with a strategist virtually, by phone or in person for optimal convenience. Evolving technology allows them to screen-share so you can see your account information in real-time.  

To schedule your one-on-one appointment:

• Visit the Fidelity Scheduler web page or call (800) 642-7131, weekdays from 8 a.m. to midnight. Fidelity offers appointments exclusively for U-M employees every Tuesday from 8:30 a.m. to 5 p.m.
• Visit the TIAA scheduling web page or call (800) 732-8353, weekdays from 8 a.m. to 10 p.m.

Help at MHealthy

MHealthy also offers several resources to assist faculty and staff with improving their financial well-being. These include education programs and resources, coaches, and immediate assistance for those who need help now.