Older Stuff

Federal Reserve Raises Interest Rate Quarter Point

After deliberation, and weighing of various options over concern of inflation, the Federal Reserve decided at their May 10th closed-door meeting to raise the federal funds rate to 5%, which is the highest it’s been in 5 years.

The Federal Reserve started the campaign to raise the rates after concerns of inflation, to [...]

Credit Improvement Tip #4 : Create a Spending Budget

The fourth tip I have for improving and maintaining a good credit score is to create a set spending budget for every month, considering what you plan on bringing in for that month (this usually doesn’t change for most salaried people, but may change if you are a commission employee or a salesperson of [...]

Better Credit Tip #3

Another tip, which seems very “common sense”, but is actually key in keeping good credit and building good credit from virtually nothing, is to pay your bills on time, all the time.

Paying your bills in a timely manner is important because some companies report late payments as well as just plain old [...]

How Much Money Should You Be Making?

Most of us would love to pay off all of our outstanding credit – there’s just one little problem – we don’t have enough “disposable income” to actually accomplish that feat. Below I’ve put a link to a really helpful salary calculator that I found. I think it’s a powerful tool to see how [...]

Secured Credit Cards

What are secured credit cards? I found myself asking this question, although I knew what “secured” meant in general, as related to the financial and lending industry – it meant you had to put up some sort of “collateral” in oder to secure a line of credit from a bank of lending institution.

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Good Credit Tip 2 : Open a Checking Account

If you haven’t already done so, you MUST open a checking account. When creditors are looking at the variables that make an individual a “qualified borrower”, they are looking for a good, steady, established credit history.

A checking account history shows that you have responsibly maintained (hopefully without overdrafting) a checking account, and [...]

Building Good Credit : Tip 1 : Ordering a Credit Report

Tip # 1 is to know where you are currently with your stance in good credit. Order a credit report. A lot of companies now will provide a free credit report, and options to continue to receive your credit report at designated intervals for a nominal fee or membership (ones I’ve seen are generally [...]

Current Prime Interest Rate for Loans?

Forecasts for the Prime Rate – which is the best going rate you can possibly get in a given time period, are usually given by financial forecasters and banks about once a month. Yep, the Prime Rate changes that often.

It just goes to show the true volatility and dynamics of the financial [...]

Building Good Credit

We all know that in order to get the best loan rates, mortgage rates and general loan rates including car loans, you need to have good credit and be deemed a good risk so that the lender will place a higher value on your business (they know you are more likely to pay them [...]

Identity Theft on the Rise : Not Just Credit Cards at Risk

I was just reading about the 26.5 million veterans whose records have been stolen and possibly sensitive information compromised, such as their social security numbers, which can basically get you a loan, credit card or other purchasing powers fairly easily today.

The worst part is, breaking news is saying that these identity thefts [...]