When are Lessons Truly Learned?
I’ve always been the type of person who learns through experiences. I learned how to pay bills by actually paying bills, I learned how to code for websites by sitting down and doing it, I’ve learned how to teach through substitute teaching. Experiences to me are the best way to learn. Now, everyone learns differently, of course. But I wonder how true financial experiences alter people’s habits. For example, for those people short selling their houses, are they learning that...
Read MoreKNOW AND BUILD YOUR PERSONAL CREDIT RATING
This is a guest post written by Money Supermarket, a UK based comparison site. As I’m sure most of you will know borrowing money has become extremely difficult in recent years. However, there will probably be a time when you will need to be approved for credit, and when that time comes you need to be prepared. Building your personal credit rating is simple; you need to show to possible lenders that you are trustworthy and reliable, because at the end of the day they just want to ensure that...
Read MoreWhat to Do if You’ve Been Declined a Secure Credit Card
A while ago, a mutual friend of ours admitted that he had ruined his credit and wanted to begin rebuilding it through obtaining a secure credit card. I advised him on opening up a secure credit card because most banks keep the amount of the credit line, for instance $500, in a savings account as collateral for extending credit to a person who is a less than credit worthy. A secure credit card is similar to a prepaid Visa gift card, but it’s reported to the credit bureaus as an actual...
Read MoreNational Debt Relief a Fraud?
Once a month I help out one of our clients with her personal finance issues, such as checking her credit card balances and calculating her residual income from her deceased ex-husband’s films. Unfortunately, she has always had others take care of her bills and finances and is purposefully clueless about finance charges and credit card debt. Hence, whenever credit card offers come in the mail, she has me look over them. The majority of the offers I shred immediately; there’s no...
Read MoreGood Riddance Annual Fee!
On a mission to clean up and improve my credit score, I had taken on a couple of cards a few years ago with annual fees. Neither card had a very high credit limit, but at the time it was all any credit card company was willing to lend me. So, I signed on the dotted line and decided to swallow their fees with the hopes of building a solid payment history. Flash forward to today and I’ve finally accomplished that goal: my credit score is over 700 and I’m now receiving credit card...
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