Ohio State University Extension/Research

Manage Your Money

Lesson 4: How Much Credit Can You Afford?

MYM-3-03

For More Information on Consumer Credit

From Ohio State University Extension (contact OSU Extension office in your county):

In Over Your Head, Bulletin 891 ($2.25 plus tax and postage).
Shopping for Consumer Credit, NCR606-1 ($1.25 plus tax and postage).

From The Board of Governors of the Federal Reserve System (Washington, DC 20551; www.federalreserve.gov; click on "brochures"):

Consumer Handbook to Credit Protection Laws (single copy free or print from web).
Shop: The Credit Card You Pick Can Save You Money (single copy free or print from web).

From The Federal Trade Commission (600 Pennsylvania Ave., Washington, DC 20580; www.ftc.gov; click on "consumer protection," then on "credit"; single copy free or view and print from web):

Building a Better Credit Record
Choosing and Using Credit Cards
Co-signing a Loan
Credit Repair: Self-Help May Be Best
Equal Credit Opportunity
Fair Credit Billing
Fair Credit Reporting
Fair Debt Collection
Gold and Platinum Cards
How To Dispute Credit Report Errors
Payday Loans = Costly Cash

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Written by Ella Mae Bard, Extension Agent in Family & Consumer Sciences, Knox Co., Carolyn McKinney, Family Resource Management Specialist, Consumer & Textile Sciences Dept., Nancy Hudson, Northeast District Family & Consumer Sciences Specialist, and Diane Johnson, Extension Agent in Family & Consumer Sciences, Darke Co., Ohio State University Extension. Portions adapted from "Managing Your Money," prepared (1994, 1996) by Eleanor Ames, former OSU Extension Agent (Madison Co.) in Family & Consumer Sciences.

For more information about family life issues, visit http://families.osu.edu

Manage Your Money is a six-part self-study course. The lessons include:
  1. Getting Started
  2. Where Does Your Money Go?
  3. Stop Spending Leaks
  1. How Much Credit Can You Afford?
  2. Develop Your Budget
  3. Your Net Worth and Financial Records

Appreciation is expressed to Marjorie McCullough, Office Associate, Consumer and Textile Sciences Department, who worked with several drafts of these materials.

This material is intended only for educational purposes. Mention of a proprietary product, trademark or commercial firm in text or figures does not constitute endorsement by Ohio State University Extension and does not imply approval to the exclusion of other products, firms, or organizations. For specific, consult your financial or legal adviser.

All educational programs conducted by Ohio State University Extension are available to clientele on a nondiscriminatory basis without regard to race, color, creed, religion, sexual orientation, national origin, gender, age, disability or Vietnam-era veteran status.

Keith L. Smith, Associate Vice President for Ag. Adm. and Director, OSU Extension.

TDD No. 800-589-8292 (Ohio only) or 614-292-1868