True or False: The only way to view your credit report is to purchase a copy from one of the three major credit reporting agencies (Equifax, Trans Union, or Experian).

FALSE. The three major credit-reporting agencies, Equifax, Trans Union, and Experian, are each required to provide consumers, upon request, a free copy of their credit report once every 12 months.

You have three options to obtain your free copy:

• Go to AnnualCreditReport.com
• Call (877) 322-8228
• Contact the Federal Trade Commission (FTC) to obtain a copy of the Annual Credit Report Request brochure. You can fill out the form on the back of the brochure and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
  • To request the brochure, you can contact the FTC by phone: at 1-877-FTC-HELP, or download the form at: www.annualcreditreport.com

Well, folks, there you have it. Another money myth dispelled. This happens to be an important money myth because many people never see their credit report for fear of the cost. This allows for errors that could be addressed to never see the light of day thus hurting the consumer for reasons they are not even aware.

So, if you haven’t seen your credit report in eight years or worse still, NEVER, please follow the above steps and order your free credit reports today.

For more information, visit CareOne Credit.

MSN Money has a nifty little debt evaluation calculator that does just that in a few, easy steps. This is not for a detailed, in-depth analysis of income and spending, but rather a good way to provide a snapshot of your financial situation. There is even a summary at the end of the wizard-like interface that basically tells you if you are in good shape or in a world of trouble, money-wise.

Put your numbers in and see how you fare. For those of us who have a difficult time approaching this process, this definitely qualifies as a positive and powerful first step. Evaluate your debt now with MoneyCentral’s Debt Evaluation Calculator.

Among the subjects covered, 66 Ways… has thrifty tips to help you save on

• Airline Fares
• Auto Purchases, Rental and Repairs
• Gasoline
• Insurance
• Banking
• Credit Cards
• Loans
• Home Purchase and Improvement
• Utilities
• Food
• Funeral Expenses
• Medical Expenses
• and more

So, if you are clueless about how to cut your expenses to help you get out of debt, it’s a great starting point. If you are a skilled money manager, at only 12 pages long, it’s a quick, painless refresher course. Either way, it’s free.

Download the brochure for free or order a printed copy for $.50 from the Federal Citizen Information Center.