by Adam | Nov 22, 2016 | Money Tips
Stop Spending Money Unnecessarily! So you’ve decided to cut back on spending and start saving. Good for you! Now you just have to figure out how to go about it. You’ve probably heard it all by now: stop shopping, stop eating out, stop buying things you don’t need. But where to you start? How do you stop spending and start saving? It’s hard but it’s not impossible. Here are 101 sneaky ways you haven’t thought of to spend less and save more. Categories Jump to the spending category that interests you most by clicking on the link below: > Eating Out > Clothes > Coffee > Makeup > Alcohol > Online Shopping > Groceries > Transportation > Credit Cards > Reduce Debt > Saving How to Stop Spending Money on Eating Out It’s easy to get take-out when you’re having a busy day and don’t have the time to make dinner. Or maybe you really just don’t want to dream up something to make. For fun let’s say you eat out 5 times a week, lunch or dinner, and spend on average $10 per meal. That’s $2,600 a year! Even if you cut that in half you would be saving a lot of money. So here are some tips to keep that extra money in your pocket. Keep weekday meals simple to prepare. If it’s easy, you’ll more likely be willing to do it. Pinterest is a great resource for quick and simple meal ideas. Make enough food to have leftovers for the next...
by Adam | Nov 22, 2016 | Credit Repair
Your credit score is important, and knowing your credit score can be a good indicator of whether or not you’re making responsible financial decisions or maybe headed down the wrong path. But there are a lot of factors that make up your credit score, and lenders are interested in specifics when it comes to approving a loan. But if you try to look up what specific numbers lenders are looking for, your search will likely yield a bunch of vague hypotheticals. So let’s take a look at some actual numbers and ranges that have proven to be good indicators of a financially responsible individual, based on FICO’s report of High Credit Scorers, and Capital One’s credit monitoring tool CreditWise, which uses TransUnion credit report data. Payment history Your ability to make payments on time is crucial, and accounts for 35 percent of your credit score. But will a late payment here or there hurt? Here is the breakdown of how your percentage of payments made on time look to lenders: 0-1% is below average, meaning you are almost always late. Approximately 12 percent of individuals fall in this category. 2-59% is average, and 17 percent of individuals fall in this category. 6-89% is good, and 9 percent of individuals fall in this category. 90-100% is excellent, and 61 percent of individuals fall in this category. Credit utilization Lenders want to know you live within your means and don’t rely on borrowed money to live, which is why credit utilization accounts for 30 percent of your credit score. This is calculated by comparing how much total credit is available to...
by Adam | Nov 10, 2016 | Credit Repair
Practicing sound financial principles may come easy for you, but you probably know someone who can’t quite seem to get the hang of managing their money. It can be frustrating and even heartbreaking to watch them make mistakes that can potentially be serious and life-changing, but you don’t have to just sit and watch. Chances are, they are just not informed about the tools and options available to them to help them manage their money, repay their debt, and repair their credit. Here are some ways you can help your family members in financial despair: Offer to review annual credit report It’s not something you learn in high school, and not something many parents teach their children. Don’t assume they know either – the next time you notice a family member struggling financially, maybe after being turned down for a loan or asking to borrow money, ask them if you could show them a few things to help them fix their credit. One of the first things you can show them is how to access their credit report. Show them the websites for the three credit bureaus and teach them how to access their free annual credit report. Suggest that you review their credit reports together. Show them how to read it Once you have a copy of their credit report, teach them what each area means, and its significance. Because the free credit reports don’t come with a credit score, you should also teach them how credit scores are calculated, and which areas of their credit report are most important in calculating the score. Identify problem areas, showing them how...
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