Money Saving Monday Tip#1 (Gasoline)

It's time to start saving money so to help you do it I will post a new way each and every Monday from now on, well until I run out of ideas then I will be forced to push the same idea and pass it off as new. So let's kickoff Money Saving Monday with something that costs us all way more than it should gasoline.

How Credit Is Built

When most people think of credit they think of credit cards and why not credit cards are everywhere and nearly everyone has one. So I often get the question "Will getting a credit card help build my credit?". Of course it will however if you are not careful it can do the opposite and help bring down your credit. So the real question is what is credit and how can we safely build it?

Credit Report For Married Couples

Many people falsely believe that marriage will impact their credit score. This is simply not true, however your choices of how you hold title or open accounts can. Hey wait you just wrote that it doesn't and now you're saying it does. Yes there is a bit of grey area here. We will discuss it in more detail.

How Long Will This Stay On My Credit Report

People are always concerned with their credit report especially if they have made a mistake like a late payment or a bill that went to collections. The main aspects I will discuss is bankruptcy,  civil suits, civil judgments, records of arrest, paid tax liens and accounts placed for collection or charged to profit and loss.

Statutes Of Limitation For Credit Card Debt

Most people don't know this but each state has a time limit for creditors to sue for nonpayment. It is important to know your states limit when dealing with collection agencies. Once a debt is passed the legal limit they cannot sue however they can ask you to repay them and continue to damage your credit score.

The Dangers Of Impulse Buying

Impulse buying is something that nearly everyone is guilty of. You may be saying "What's the harm in that, if I want something I will buy it". The harm is habitual impulse buying. As people we create habits and we go along living our lives by these habits. There is nothing inherently wrong with habits however if the habit is formed around a destructive behavior it can have great impact in our lives.

Why Creditors Settle For Less

I bet you have heard that creditors will settle for less than the owed balance and your probably wondering well why don't I just settle my credit cards for less than I owe?  It's really not as simple as that. Creditors don't settle on accounts that are current. So before they will settle you have to be behind on payments.

Should I Lend or Give Money To A Friend

Eventually you will be faced with a similar decision . Do you lend a friend or family member money or do you simply give the money as a gift? Well this decision is yours to make the only person you need to discuss this with is your spouse is you have one. However all too often I see people make mistakes when they lend or give money. Today we will explore the difference and show you how to lend money properly if you decide to lend instead of give.

Creating A Budget And Sticking To It

A budget is the cornerstone of an good financial plan. It's truly amazes me how intimidated people are of budgets. Hopefully  after reading this you will understand how to create and use a budget without fear. The most difficult part of a budget is facing yourself after you see how much money you are wasting.

How Is My Credit Score Calculated

Many people have asked me "How do I raise my credit score?" and in return I say "Don't you mean how is my credit score calculated?". Truly understanding how your credit score is calculated will lead to understanding the steps required to raise your credit score. The general purpose of the FICO score is to establish a score that represents how likely you are to pay back the loan. Your FICO score will range from 300 - 850 points and is comprised of 5 components: Payment History, Credit Utilization, Length of History, Inquires, Different Types of Accounts.