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.

My Card Wasn't Maxed Out Yesterday

I believe I have mentioned that credit card companies are ruthless and have no problem cheating you out of your hard earned money before. Well I would like to take this opportunity to divulge one of their clever tricks. This has happened to a few people I know. It starts off with you missing one payment on a card that you have been carrying a balance on and before you know it your interest rate jumps to 29.99% and they tell you that your card is maxed out and thus your interest rate has been placed higher.

The 0% Balance Transfer

Ever been offered a 0% balance transfer by a credit card? Well let me fill you in on a few thing before you go jumping into that mess. I would like to start off by letting everyone know that I have used these 0% balance transfers in the past and with success, however you must know a thing or two before entering into this dangerous world.

Are Credit Cards Really "The Devil"

Most people in America use credit cards on a daily basis and why not, credit cards make purchases easy and fast.  Just pay the bill at the end of the month and you won't ever accrue interest. Credit cards even give you cash back their more like a friend then an enemy. So why do so many people say that credit cards are evil? Well the truth is at some point you will hit a bump in the road and guess what that snake in the grass will be there to bite you.