Credit Report and Credit Score Online

Many Americans receive a thick summary of their yearly credit card transactions each year and toss it in the trash without a second glance. However, they may also be throwing away a valuable opportunity to instill better financial habits and control their spending Fox Business reports.

Your year-end credit card summaries provide you with a breakdown of where you spend the most money. The breakdown usually consists of restaurants, entertainment, transportation, and other sectors. By examining the breakdown, you can get an accurate reading of your spending habits and make an informed decision about where you need to cut back.

This approach may be especially beneficial if you’re a newlywed. When you tie the knot, your financial goals often change. You may decide to purchase a home or start a family. Goals like these may be more difficult to reach if you’re allocating 45 percent of your available credit to eating out or buying clothes.

In addition to reviewing credit card summaries, examining your credit report is another way to determine your financial health and gauge whether your credit standing is strong enough to secure loans at low rates.

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