Borrowing Basics

Upon reaching adulthood, your credit score is one number that can dramatically impact your life, both financially and otherwise. A good score can help you receive the loans you need and ultimately pay less interest. But it can also help when applying to lease an apartment; some employers even check your score before hiring.   While a good credit score is desired, it isn’t always easy to obtain. Life throws everyone curve balls that knock their financial plans and budgets off track. So how do you build and maintain the high credit score you desire? Below are seven habits commonly found…

We’ve scoped out the best times of year to buy some higher-ticket items so that YOU can save money throughout the year and stay on budget. Each month is listed with items that are most likely to be priced the best they will be all year, plus we’ve included the holidays when you’ll find major sales. Make sure to plan your shopping calendar and your budget accordingly!  January  Electronics: There are typically sales AFTER Christmas to encourage additional purchases after the holidays. You’ll probably find that some of your favorite electronics are on sale.  Fitness Equipment: Retailers know that people make resolutions to…

If you’re struggling with holiday credit card debt, it might feel like you’re drowning in quicksand. The more you fight to get out of this high-interest debt, the deeper you get, it seems.   But there’s a lifeline! There are practical things you can do to pull yourself out of credit card debt, once and for all. These four real-life tips can help you out:   1. Stop Using Your Credit Cards. You must understand and accept that unpaid credit card debt is bad for you financially and must be corrected. If you’ve been using your credit cards to fill in financial gaps, now is the time to break the habit for good and vow never to return.    This sounds much simpler than it is.  Do these three…

Buying a car is an exciting time. There are so many possibilities! But, although your heart may be into the shiny sports car on the lot, your mind tells you a nice, modest sedan is actually what you can afford. This guide will help you focus so you can score a better deal the next time you buy a car.  Focus on Price First  Buying a car may be serious business to you, but the salesperson at the lot may view selling a car as a game. Their goal is to score the best deal for the dealership… and a higher commission check for themselves. Your mission,…

It’s usually not until you apply for a loan that you realize just how valuable an excellent credit score can be. Lenders typically price loans based on your creditworthiness. Lower credit scores lead to higher interest rates. The difference between a C and B credit score, or B and A, could mean saving hundreds, or possibly thousands of dollars in interest, depending on the size and length of the loan.  You may feel that lenders are punishing you, but the reality is that financial institutions are trying to protect themselves from potential losses. Your credit score gives them a bird’s-eye view of your money management abilities. Lenders will perceive you as a higher risk if you struggle…