Why Money Management is More Important Than Ever

Given the current economic situation, successfully managing your money has become more important than ever. One of the big worries that has the government scrambling to get a bail-out bill passed is the effect on the ability of individuals and small businesses to get a loan. The government is very worried about banks and other lenders becoming more reluctant to offer credit. One could argue that might be the right road to take long-term, but it would certainly continue to slow the economy in the short-term.

So how do you ensure that you always have the credit you need? By managing your money and maintaining a strong credit score. If you look like a safe bet, you'll likely still be able to borrow money when you need to. But if lenders look at your credit history and have concerns about recouping their money, you may be one of those on "Main Street" feeling the effects of the economic crisis on "Wall Street".