National Get Smart About Credit Day is observed on October 16th and aims to raise awareness about the importance of managing credit effectively. Established by the American Bankers Association, this day encourages individuals to take control of their financial health by checking their credit scores and consulting financial advisors. Participants are urged to learn about borrowing, the implications of debt, and to develop healthy money habits. Typical actions include researching credit management strategies, creating plans to pay off debts, and sharing knowledge about financial literacy with others. The day serves as a reminder that maintaining a good credit score is crucial for various aspects of life, including securing loans and employment opportunities.