Understanding your credit utilization ratio is critical to your credit score and getting the money you need It may seem like lenders create your credit score out of thin air to decide whether to approve or deny you credit. The reality is there are a mix of factors that go into the number, some of which you can control and some you cannot. One of the most important credit score factors, and one … [Read more...]
11 FICO Credit Score Myths that Will Change Your Financial Life
These FICO credit score myths can keep you from getting the money you need, a good job or even a roof over your head Your FICO credit score is one of the most important parts of your financial life. It can help you find your dream home, get you cheaper rates on insurance and even help you land a job. Unfortunately, there is a lot of fake news about credit scores. I’ve seen FICO credit score … [Read more...]
3 Ways Paying Late Can Ruin Your Finances
Stop paying late from ruining your life with these tips and tricks We’ve all been there. You wake in the middle of the night screaming, “Crap, I forgot to pay the credit card bill!” Whether it’s the credit card bill, the cable bill or any of the dozen or so recurring monthly debts we all have, everyone has missed a payment or two…or three. Paying late might not be a big deal once in a while … [Read more...]
How Applying for a Loan Can Ruin Your Credit Score
The difference between a hard inquiry and a soft pull on your credit report can mean a huge change in your interest rate Credit scores are like spouses…you don’t miss them until they’re gone! In all of personal finance, there may be no other topic more important and more misunderstood than your credit score. Having a great credit score can open up a world of cheap financing for a home, car or … [Read more...]
How to Budget When You Don’t Make Enough Money
Making ends meet when you just don’t make enough is frustrating and painful but you can beat it with these tips The Census tracks household income and reports half of American households make less than $56,000 a year. Talking with a lot of friends and family about budget problems and just being flat broke, I think the estimate is a little high. Worse still is that estimate for household income … [Read more...]