It seems like there are countless ways we can go into debt including credit cards, mortgages, student loans, auto payments, medical bills, home equity loans, pay day loans, and personal loans. Despite the booming economy, record stock prices, and low unemployment, many Americans are still struggling with debt. It’s not entirely due to spending habits.
The travel arena is an area where some competition still exists, despite all the airline and hotel consolidation. There are plenty of websites and apps to help you find the best deals and see reviews. See my other travel blog posts here. The airline industry is now the epitome of nickel-and-diming customers and starting to be the model for other envious industries. But travelers do still have choices such as really cheap Spirit Airlines tickets that charge you extra fees for even carry-on bags to Southwest Airlines that advertise that “bags fly free”. To help navigate those choices, information for today’s post is provided by www.cheapflights.com.
When we discuss financial issues for seniors, we tend to focus on retirement or medical expenses, but of course there are so many other aspects of senior living that affect finance issues in one way or another. Today we have a guest post from Caroline James of elderaction.org with resources for seniors that cover a variety of issues. Continue reading
In the last two posts, I have discussed why your credit score is important and what affects it. Now let’s end with how you can improve your credit score.
In the wake of the data breech of Experian, one of the companies that compiles our credit scores, last week, I discussed why our credit scores matter. Today, let’s discuss what affects credit scores. Your actions could be affecting your scores without even knowing it, whether harming or improving.
Data breaches of big companies have become so common that you may not even pay attention to them any longer. Nevertheless, the recent news that Experian was breached which exposed the data of tens of millions of consumers does take this to the next level of concern and magnitude. So many people were affected and by a company that is supposed to monitor OUR trustworthiness in managing our debt and borrowing. Experian is one of the big three credit monitoring companies that produce a “credit score” on all of us who have borrowed money or even received a credit card. So let’s take a few blog posts to discuss our credit score: what is it, why should we care, and how we can improve it.
A new college year has started and students are back on campus learning to balance study, fun, and work. They are gaining new independence and responsibility. College is also the time when students start to practice real money skills, manage money while in college, and learn sound money management tips. Whether they work part-time, college is mostly paid for, or student loans postpone the day of reckoning; students can learn about budgeting, the difference between needs and wants, living within your means, stretching a dollar, planning for future bills, and managing money in college. They have plenty of opportunities to apply one of my favorite financial principles which is how to avoid paying full price.
My new book, “The Financial Guide to Life” is free on Amazon for three days: 8/14 – 8/16.
Get it for free while you can and take advantage of all the ways it can save you money, simplify your finances, improve your investing, get you out of debt, and improve your future. If it saves you money, then please leave a review on Amazon. All new authors need reviews to help spread the word.
It will pay you back with money savings tips, investing expertise, and advice on how to avoid paying full price. Save hundreds of dollars a month, simplify your finances, and enhance your financial future. I especially recommend this book for young people, because the earlier you get on the best financial path, the better your future will be.
Find out what is a credit score, why your credit score is important to you and how you can improve it. People with low credit scores will have a harder time getting credit and will pay more when they do. It can also affect other things like getting telephone service, an apartment, or even a job. Despite its importance, I haven’t discussed it much here on my blog. However, my new book, Financial Guide to Life, has an entire chapter that summarizes the things you really need to know for your own self-interest. For busy people, I really like checklists and bullet lists. Everyone one of my book chapters starts and ends with a bullet summary. So today, I am going to share the bullet list summary for my credit score chapter as well as the “more information” list to give you the quick facts you should know.
Many young people have recently graduated, started earning money, and are faced with a wide range of new financial choices. The financial principle I most hope young people learn early is how important it is to start saving early, especially for their retirement. Saving early, even a small amount, allows more time for the “magic of compound” interest to grow your savings and earn interest on your interest.