Summer blockbuster season can make or break the year for a movie studio. Just as those big-budget productions have a huge impact on a studio’s financial health, some blockbuster life events can affect your credit for the rest of the year – and beyond.
Take the right steps to protect your identity and manage your use of credit.
Here is our version of some summer blockbusters you wouldn’t want a ticket for:
“The Spy Who Scammed Me” – Spy films are often filled with exotic cars, scenery and locales, but there’s nothing glamorous about getting scammed by online spies. Spyware that steals your personal or financial information is a favorite tool of identity thieves. To protect yourself from identity theft scams, monitor your credit report and make sure your computer’s anti-virus and anti-malware software stays up to date.
“House of Credit Cards” – Used wisely, credit cards can be like the perfect bucket of popcorn that makes the movie more enjoyable. But if your financial “house” is built on credit cards, and you use plastic to pay for everything from your morning coffee to a flat-screen TV, you’ll be setting the stage for unwelcome drama.
“The Budget Terminator” – The special effects needed for a successful summer sci-fi flick can be budget busting. If a studio loses money on one flick, chances are it can make up the cash with a different movie. Bust your own personal budget and it can be a lot harder to get back on track.
“The Bad Debt Grudge” – The Federal Reserve says total consumer credit outstanding—“debt” to the rest of us—topped $2.5 trillion in March 2012. Carrying too much debt can be like living in a horror movie. Bad debt can haunt your credit for years, making it difficult to achieve your financial happily ever after.
Taking steps to protect your identity and manage your use of credit can help ensure you don’t end up with a ticket to the kind of show you’d rather miss.